First step: Add cryptocurrencies that have risen in the past 11 days to your watchlist. However, it is important to exclude those that have fallen for more than three days to avoid capital already escaping with profits.
Step 2: Open the candlestick chart and only look at the cryptocurrencies with a monthly MACD golden cross.
Step 3: Open the daily candlestick chart, here only look at a 60-day moving average. As long as the price of the coin pulls back to near the 60-day moving average and a volume candlestick appears, then enter with a large position.
Step 4: After entering the market, use the 60-day moving average as the standard. If the price is above it, hold; if below, exit and sell. This is divided into three details.
The first rule is to sell one-third when the wave's increase exceeds 30%. The second is to sell another one-third when the increase exceeds 50%. The third and most important rule, which determines whether you can profit, is that if you buy in on the same day and the next day there is an unexpected situation where the coin price directly breaks below the 60-day moving average, then you must exit entirely without any lucky thinking. Although the probability of breaking below the 60-day line using this method of combining monthly and daily charts is very small, we still need to have risk awareness.
In the cryptocurrency world, preserving your principal is the most important thing. However, even if you have already sold, you can wait until it meets the buying criteria again before buying back.
Ultimately, the difficulty in making money lies not in the method but in execution. "When the coin price directly breaks below the 60-day moving average, you must exit entirely without any lucky thinking." Just this one sentence has eliminated 90% of people.
In summary, in the cryptocurrency world, you cannot be rigid; adaptability is the way to survive in the market long-term. Therefore, we must pay attention to the fact that the overall market and individual cryptocurrencies can be completely opposite. Trading cryptocurrencies appears to be a contest with the market, but in reality, it is a contest with human nature. The risk you see on the surface may actually be an opportunity. Sometimes, what you see as an opportunity could be a trap tempting you.