Essential reading for newcomers in the crypto world: master the timing, and even beginners can profit!!!
After much persuasion, my mentor revealed the time difference rules he learned over 8 years in the crypto world, making the trading journey a bit smoother for newcomers. Here are the must-know tips for crypto novices to avoid pitfalls:
1. In most cases, Bitcoin leads the market fluctuations; Ethereum and strong coins may sometimes deviate from Bitcoin's influence and move in a one-sided trend, while altcoins generally cannot escape its impact;
2. Bitcoin and USDT move inversely; if you notice USDT rising, be cautious of Bitcoin falling. When Bitcoin rises, it's the right time to buy USDT;
3. Between 0:00 and 1:00 AM, there is a tendency for price spikes, so domestic crypto enthusiasts can set low buy orders and high sell orders for their desired coins before going to bed, as this might result in easy profits while they sleep;
4. The time between 6:00 and 8:00 AM is crucial for deciding whether to buy or sell, and it also helps determine the trend for the day. If the price has been falling from 0:00 to 6:00 AM and continues to fall, it's a good opportunity to buy or add to positions, with a high likelihood of a rise for the day. Conversely, if the price has been rising from 0:00 to 6:00 AM and continues to rise, it's a selling opportunity, with a high probability of a drop for the day;
5. 5:00 PM is an important time to pay attention to rumors in the community; due to time zone differences, American traders are waking up, which may cause price fluctuations. Significant rises or drops have occurred at this time, so be particularly cautious.
6. There is a saying in the crypto world about 'Black Friday', where significant drops have coincidentally occurred on Fridays, but there have also been cases of significant rises or sideways movements, so it's not particularly reliable.
(This can only be attributed to skill, but a bit of luck is also needed.)
The above does not constitute investment advice; it is merely a sharing.
