First step: Add the cryptocurrencies with an upward trend within 11 days to your watchlist, but be careful to exclude those that have dropped for more than three days to avoid losses from profit-taking.
Second step: Open the candlestick chart and only look at the cryptocurrencies that have a monthly MACD golden cross.
Third step: Open the daily candlestick chart, and here only look at a 60-day moving average. As long as the price of the cryptocurrency pulls back to near the 60-day moving average and shows a volume increase candlestick, then enter with a heavy position.
Fourth step: After entering the market, use the 60-day moving average as a standard. If the price is above it, hold; if it falls below, exit and sell. This can be broken down into three details.
The first is to sell one-third when the wave's increase exceeds 30%. The second is to sell another one-third when the wave's increase exceeds 50%. The third, and most important, which determines whether you can make a profit, is that if you buy in one day and the next day there is an unexpected situation where the price of the cryptocurrency directly falls below the 60-day moving average, you must exit completely. Do not hold any false hope. Although the probability of falling below the 60-day moving average using this method of combining monthly and daily candlestick analysis is very low, we still need to have a risk awareness.
In the cryptocurrency space, preserving your principal is the most important thing. However, even if you have already sold, you can wait until the situation meets the buying criteria again to buy back.
Ultimately, the difficulty in making money lies not in the method, but in execution. 'When the price of the cryptocurrency directly falls below the 60-day moving average, you must exit completely and not hold any false hope.' This one statement has eliminated 90% of people.
In summary, one cannot be inflexible in the cryptocurrency space; adaptability is the key to long-term survival in the market. Therefore, we must pay attention to the fact that the market and individual cryptocurrencies are often in stark contrast. Trading cryptocurrencies seems like a competition with the market, but in reality, it is a contest of human nature. The risks you perceive may actually be opportunities, and sometimes the opportunity you see may be a trap tempting you.