Next, let's talk about some tips for short-term cryptocurrency trading:
1 After consolidation at high levels, new highs are often created, while consolidation at low levels usually leads to new lows. If the coin price is consolidating at high levels, generally speaking, there will be new highs later; while at low levels, new lows may be on the horizon. Therefore, waiting until the consolidation period ends to determine market direction before taking action will be more prudent.
2 Avoid rash trading during sideways movement. Most investors who lose money do so because they are impatient during sideways price movements, frequently entering and exiting, which ends up trapping them. Sideways movement is a time-consuming phase with no major opportunities, so it's better to quietly observe.
3 K-line operation: Buy during bearish candles, sell during bullish candles. When the K-line chart shows a bearish close, consider entering the market; when it shows a bullish close, consider selling. This simple strategy can help you grasp market fluctuations in short-term trading.
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