After years of struggling in the cryptocurrency world, I have gradually explored some practical trading insights. The market is like a fickle dancer; to keep up with the rhythm, one must learn to observe its steps.
The morning market often reflects the most accurate situation. If you wake up to see prices plummeting, don't rush to cut losses; this might be a good opportunity to buy at a discount. Conversely, if the early market is rising sharply, it might be wise to take some profits first. In the afternoon, sudden surges are often just a mirage; chasing highs can be risky, but if there's a significant drop in the afternoon, it might be better to calmly observe and look for entry points the next day.
Market downturns test one's mentality the most. Morning fluctuations are often fake moves, so don't be spooked into hasty actions. When the market is stagnant, don't rush; resting is also a strategy. Trading must follow the rules; don’t act impulsively before reaching your target price, and especially be patient during sideways movement.
Candlestick charts can be informative; a bearish candle often signals a buying opportunity, while a bullish candle indicates a profit-taking moment. To make money in the cryptocurrency world, sometimes you need to go against the crowd—stay calm when others are frantic, and be bold when others are panicking. What tests your patience the most is prolonged sideways movement; at this time, it’s all about patience, so it's best to wait for clear direction before acting.
Remember, a sudden spike after a long period of consolidation is often the last supper; don’t hesitate to take profits when it’s time. The market is always changing, but maintaining discipline and controlling emotions is the key to long-term success.