For beginners entering the crypto world, afraid of being scammed but not knowing anything, what should you do? Today, Kong Ge will teach you the basic knowledge of the crypto world.

This article is full of practical information.

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Since you have come to the crypto world, you cannot avoid one thing: Bitcoin (BTC), commonly known as 'big cake'.

Arbitrarily take a portion of Bitcoin, viewed from the monthly line.


From 2020 to now, can it be simplified into these five simple line segments?

There are only two types of trends for this line segment: upward or downward.

The so-called consolidation refers to fluctuations up and down within a range, where the price remains basically unchanged. Ultimately, it will evolve into one of the two trends mentioned above, which we will not consider for now.

If we want to profit, we need to be a trader: buy at wholesale prices and sell at retail prices, that is, buy low and sell high.


So Q1: If it is only the aforementioned five line segments or simplified further, as shown in the diagram below:

With this trend, do you have confidence in making a profit?

Now that we have a preliminary understanding of the trend, how can we know when the trend is complete and begins to transition to another trend?

Then we need to introduce a second concept: support and resistance levels.

Here’s an example:

A newly issued cryptocurrency, let’s call it Shab (a fictitious example, different from the actual Shab on BRC-20), with an issuance price of $1. This coin has great prospects and could even alleviate future domestic employment pressure and economic downturn issues. It quickly surged right after issuance, people bought frantically, reaching $100, $200, until the FOMO sentiment ended around $400. Subsequently, as enthusiasm waned, this coin continued to decline, becoming neglected. A few months later, the Shab team announced they had successfully researched a lithography machine, and the entire market became restless again. Originally declining to around $30, it began a second surge, but this time it faced significant resistance when rising to $400. Too many people had enjoyed the previous peak, and when a bunch saw hope of breaking even, they sold off massively at prices below the market, causing the price to fluctuate around $350. This $400 also became a resistance level, and as the official announcement led to a significant peace in human society, the market exploded three times, breaking through $400 and rising to higher positions, with that $400 accordingly becoming a support level.

These two terms are not difficult to understand and are widely used in practice.

So Q2: After three attempts to break the resistance level without success, is the resistance level stronger or weaker during the fourth attempt compared to the first?


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