The cryptocurrency market has skyrocketed from 50,000 to 5.5 million, all thanks to remembering these 7 phrases!
[One R] Focus on Bitcoin
When Bitcoin moves, immediately pay attention to Ethereum and other mainstream varieties and altcoins; opportunities often lie behind!
[Two R] Trading volume is key
When the trading volume is small, buy in stages; when the trading volume amplifies at a low position, buy with full funds; when the trading volume amplifies at a high position, sell with full funds.
[Three R] Buy on a pullback with low volume, sell on high volume
You can buy when there's a pullback with low volume, but sell when the volume increases. An increase in pullback volume usually indicates that the main force is offloading.
[Four R] RSI and KDJ indicators
When the RSI indicator hovers at a low level for three times, you can buy; when it hovers at a high level for three times, sell. Buy boldly when RSI is below 10; sell quickly when it is above 85. If the coin price hits a new high but RSI does not reach a new high, it’s definitely time to sell. At the same time, the KDJ indicator can also be referenced. For short-term trading, the W%R indicator is crucial and must be studied carefully; for long-term trading, pay more attention to the TRIX indicator.
[Five R] Don’t get entangled in Bitcoin vs. Altcoins
There are only mainstream coins and altcoins, only major players and retail investors; don’t be confused by “mainstream” or “altcoins,” the key is to look at trends and capital movements.
[Six R] Moving average crossover trading method
When the moving averages cross upwards, it’s time to buy; when they cross downwards, sell quickly. If both the 5-day and 10-day moving averages are rising and the coin price is above these two moving averages, feel free to buy as long as the coin price does not drop below the 10-day moving average, don’t rush to sell. If it definitely drops below the 10-day line, then wait for the 5-day moving average to turn down before selling. This is because the 10-day moving average is very important to those who manipulate the market; it’s almost their cost price, so they generally won’t let the coin price drop below this line.
[Seven R] The strong get stronger, the weak get weaker
Sometimes, chasing rising prices and cutting losses can be quite useful. In the cryptocurrency market, the strong get stronger and the weak get weaker. When trading, timing is crucial; never be stubborn and compete with yourself.