@All friends in the cryptocurrency circle, please pay attention:
Looking at today's cryptocurrency market, Lao Jiu cannot bear to see others lose money. Today, Lao Jiu has decided to share the experiences he has summarized over the years, how Lao Jiu has survived in this market, and how to remain invincible. At the very least, this can save you years of detours, and what you learn can directly turn your losses into gains!👇
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💎Regarding trading volume: the so-called troops haven't moved, but supplies must be prepared first. The formation of the initial trend requires volume, especially the first significant increase after a period of sideways movement, which should be closely monitored. This is not the best entry point; the first significant increase will likely have a pullback. When the second significant increase occurs, that is our best entry opportunity!
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💎Regarding price: it is essential to look at the closing price. The fluctuations during the day are not important; if the closing price can hold steady, it indicates that the main force is about to take action. To distinguish between a genuine and a false breakout, Lao Jiu's conclusion is that if the closing price can remain above the resistance level, then the probability of a breakout is very high!
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💎Regarding entry timing: before a breakout, the cryptocurrency price should ideally have experienced a long period of sideways consolidation. The longer, the better. The concentrated chip area should ideally fluctuate less than 10%. Once the main force has completed a substantial accumulation of chips in such a target, it will surely advance with a devilish pace that shows no signs of turning back!
💎Regarding resistance levels: it is crucial to identify previous resistance levels. For example, during previous declines, there was support in that range, and if it remained in that area for a long enough time, then that position is the resistance level for an upward move. Normally, when at a key resistance level, the first direct breakout can generally be deemed a false breakout. At this position, it is entirely reasonable to exit first and wait for a minor pullback before re-entering!
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