I am the Great Sage, a Wuhan native, working hard in Guangzhou for over a decade. I started trading cryptocurrencies with 50,000 yuan I saved from factory work, and in 7 years I grew it to 7 million.

In this industry, I've encountered traps and seen tricks. Today, I will share six hard-earned lessons; understanding just one can save you 100,000 yuan, and mastering three can help you outperform 90% of retail investors.

1. Rapid rise and slow fall, don't rush to sell

Did the price suddenly soar and then slowly decline? Don't panic; this is often a tactic by the big players to scare off weak hands. The real danger is when there's a sudden drop after a sharp rise, that's the strategy to cut the chives.

2. Rapid fall and slow rise, don't rush to bottom fish

Is the price rebounding like a snail after a crash? Don't be tempted to catch the bottom! This is usually the main force offloading their assets. Just because it has fallen a lot doesn't mean it will rise; the last wave of false rebounds targets those who think they are smart.

3. High volume at high prices can still rise; low volume at high prices means run

If the price rises to a high level but the trading volume is still increasing, it indicates more funds are entering, and there may still be a surge. However, if the price is high and the volume is stagnant, it's time to run; if no one is buying, a crash can happen in an instant.

4. Don't get excited about volume at the bottom; sustained volume is the real signal

If the price has been falling for a long time and suddenly there’s a massive rebound in volume, don't get too happy; it may just be a short-term trap. The real bottom signal is a period of low volume followed by consecutive days of increasing volume, indicating that the main force is building positions.

5. Trading cryptocurrencies is about trading human nature; volume is more important than price

You think you're analyzing candlesticks? In reality, you're studying human behavior. Trading volume represents market sentiment, while price is just the result. Overheated sentiment will correct, and icy sentiment presents opportunities.

6. The highest state is 'nothingness'

No obsession: Not stubbornly bullish or bearish; if it’s time to stay out, then stay out. No greed: Don’t chase highs or fantasize about getting rich overnight. No fear: Be brave enough to buy during a crash and sell during a frenzy.

This is not a Zen attitude; it is a top-tier trading mindset.

Summary: There are always opportunities in the market, but most people lose due to their mindset. Follow me for daily sharing of practical strategies to help you avoid detours. — Great Sage, a veteran in the crypto world who turned 50,000 into 7 million.