Seven Practical Insights to Help You Thrive in the Cryptocurrency Market!
1. In the crypto world, dramatic changes often occur during European and American trading hours, specifically from 9:30 PM to 7:30 AM Beijing time. Late at night becomes the golden moment to seize trading opportunities. Experts adjust their schedules, going to bed at 8 PM and waking up at 4 AM, just to wait for those fleeting moments of wealth.
2. If the domestic market experiences a significant drop during the day, there is no need to panic. When the European and American trading hours begin, the situation may turn around in an instant. Remember, a significant drop during the day may herald an opportunity, while a substantial rise requires caution, as the risk of a nighttime correction should not be ignored.
3. K-line pinbars, which are extreme upper and lower shadows, are a common tactic used by market makers. The depth of the pinbar often indicates the strength of the reversal. When a pinbar appears, it is the best time to buy or sell. Do not be misled by the tricks of the market makers; be keen to capture this signal.
4. Holding a large position means high risk. Market makers closely watch those with heavy positions; fleeting fluctuations could wipe you out. Therefore, using a lighter position and diversifying investments is the prudent path. Keeping your capital safe is essential for long-term survival in the crypto market.
5. After you stop-loss and exit, the price will immediately drop; after you take profit and exit, the price will subsequently rise. This is the norm in the capital game. Therefore, stop-loss should be carefully considered, while taking profits should be done in batches. Do not let market makers control your fate.
6. When you are immersed in euphoria, a waterfall market may already be brewing. Capital often takes advantage of your emotions to reap profits. Thus, it is crucial to remain calm and rational. In the crypto world, only by keeping a clear mind can you maintain an undefeated position.
7. Financially Strapped, Patiently Wait
When you are broke, the crypto market seems full of opportunities. But remember, the market is largely manipulated. Do not easily venture into unknown territories; patiently waiting and rational analysis is the best strategy. In the crypto world, opportunities always favor those who are prepared.
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