Nine Essential Trading Secrets in the Cryptocurrency Market

1. Buy early when prices drop, sell early when prices rise: If you see a sharp drop in prices in the morning, do not panic; this may be a golden opportunity to enter the market. Conversely, if prices surge, be cautious of the risk of a correction and reduce your position accordingly.

2. Afternoon Strategy: If prices continue to rise in the afternoon, be cautious about chasing the highs to avoid getting caught at high levels; if prices drop sharply in the afternoon, do not rush to buy the dip; observe the market's reaction the next day before making a decision.

3. Maintain a Stable Mindset: It is crucial to remain calm in the face of market fluctuations. During a significant drop in the morning, avoid panic selling; when prices are stagnant, take the time to rest and keep a clear mind.

4. Follow the Trend: When the trend is unclear, avoid making blind moves. Do not sell when prices do not reach a new high, do not buy without a correction, and take a wait-and-see approach when prices are flat.

5. Candlestick Strategy: When buying, opt for a bearish candlestick for a more secure buy; when selling, wait for a bullish candlestick to appear before considering selling for better returns.

6. Contrarian Thinking: While following the trend is a basic principle of trading, in some cases, going against the trend can yield miraculous results. Daring to challenge market conventions is what makes a true winner.

7. Patient Observation: When prices are consolidating, avoid the temptation to rush for quick gains. Patiently wait for the market trend to clarify, then decisively act to secure your position.

8. Risks After High Consolidation: When prices suddenly surge after consolidating at a high level, be wary of correction risks. At this point, decisively reduce your position or exit to avoid getting trapped at high prices.

9. Hammer and Doji Star Warning: If the market exhibits a hammer or doji star pattern, it indicates an impending market reversal. Stay closely tuned to market dynamics, operate cautiously, and avoid the risks associated with being fully invested.