Recently, with this wave of cryptocurrency price decline, many crypto enthusiasts must have encountered liquidation, or were trapped due to not setting stop-loss and take-profit orders, causing a lot of anxiety. Don't worry, Tan Sen is here to share practical strategies for getting out of a tough situation for free.

Here are some of my experiences and insights regarding getting out of a tough situation, hope they can genuinely help all crypto enthusiasts:

1. Responding Based on Position Status

1. Lightly Trapped: If the level of being trapped is not deep, crypto enthusiasts can look for rebound opportunities and exit in time; they can also reduce their position slightly when the price rises, recovering part of the funds to lower the risk of loss.

2. Deeply Trapped: If the position is deeply trapped, everyone can consider establishing some new positions or averaging down when the price rises, to lower the overall average price. By doing this, when the subsequent market comes, we can take the initiative psychologically and have more operational space.

2. Combining with the Trend of the Bought Cryptocurrency

1. Downtrend: If the cryptocurrency you bought is in a downtrend and the downward trend is basically confirmed, in this case, it is recommended to decisively stop-loss, and do not be overly attached or hold out hope. Because the market is changing rapidly, any hesitation may lead to a situation of being deeply trapped, making it even more difficult to escape later.

2. Balanced Fluctuation Trend: When the cryptocurrency you hold is in a balanced fluctuation trend, you don't need to rush to stop-loss. We should patiently wait until the cryptocurrency price reaches the high point of the fluctuation range; once we are out of the trap or if the loss is very small, we should decisively exit to secure profits.

3. Uptrend: If the cryptocurrency you bought is in an uptrend, then there is even less to worry about, no need to stop-loss, just hold on for a while. Not only can you get out of the trap, but there is also a great opportunity to reap substantial profits.