Learn these few mantras, and you can easily make a profit in the crypto world and achieve ten times your investment!
Here are some insights on trading cryptocurrencies: When the price breaks through a key level, don't miss the short-term opportunity. Explanation: Once the price breaks a significant support or resistance level, there might be a short-term trading opportunity, so don't hesitate to seize it quickly. After a big rise, don't rush to buy at a high.
Explanation: After a significant price increase, a pullback often follows. At that time, don't be too eager to chase after the high; you need to stay composed.
If the price rises but the volume doesn't increase, the main players might be deceiving you. Explanation: If the price goes up but the trading volume remains stagnant, it might be a trap set by the main players to lure retail investors, so you need to stay alert.
Don't panic if there are few trades during a sharp drop; if the price drops slowly with increasing volume, it's time to exit. Explanation: When the price drops sharply but the trading volume is low, don't rush; if the price is slowly declining and the trading volume is increasing, it's time to retreat quickly.
When the main upward trend accelerates, it may be nearing the top. Explanation: When the price is rising rapidly, it may be approaching the peak, so be sure to pay attention to top signals and prepare in advance.
Don't chase high prices when buying; wait for a pullback to take action. Explanation: When buying cryptocurrencies, don't wait until the price has risen significantly to buy, as the risks are too high. It's best to wait for a pullback when the price is relatively reasonable before making a purchase.
Look at both daily and weekly charts; the main players' movements are key. Explanation: When analyzing price trends, don't only look at the daily charts; also consider weekly charts and even longer-term charts to better understand the main players' movements and market trends.
Don't panic over small fluctuations; be cautious during large rises. Explanation: When the price fluctuates slightly, there's no need to worry too much; however, if the price continues to rise significantly, you should be alert and not let the market's enthusiasm cloud your judgment.
If the price hits a new low with decreasing volume, it might be a bottom: when trading volume rebounds and the price rises, it's a good time to enter. Explanation: If the price drops to a new low and the trading volume is also decreasing, it might indicate a bottom position; when trading volume starts to rebound and the price begins to rise, that’s the right time to enter the market.
