How to position yourself during the volatile rises and falls in the cryptocurrency market? Here are three key techniques you need to master!

Success is like a ladder; those who keep their hands in their pockets cannot climb it. Only those who strive to climb up can reach the peak. The motivation to act on your own is different from being urged by others. While you still have time, do your utmost to achieve what you most want to do, become the person you most want to be, and live the life you most want to live. Perhaps we will always be just small figures, but this does not prevent us from choosing how to live. This world is always more wonderful than you think; do not be defeated by life. The future you will surely thank the present you for your hard work.

In the cryptocurrency market, major news often accompanies significant market movements. Cryptocurrency trading is not gambling; it requires clear thinking. Here, I summarize five key techniques for investing in cryptocurrency to help everyone.

First move: Recognize the trend

Going with the trend is the winning strategy for any investment, so the first move is to “recognize the trend.” The trend is a mid-to-long-term concept, representing the direction of price changes over an extended period, including three directions: upward, downward, and sideways. Therefore, once you identify the trend, adopting the traditional operation method of “selling high and buying low” is very prudent. If you want to “chase highs and cut losses” against the market, you must focus on short-term operations.

Second move: Wait for the buying point

“Waiting for the buying point” is the second move you must master. Investors can use methods such as the Fibonacci retracement method or trendline buying method to achieve this. There is no superiority or inferiority in different methods; it only depends on whether they are suitable and convenient for investors to operate.

Third move: Find your target

“Finding your target” is the third move. Investors can also use the Fibonacci retracement method to achieve this. A target is just a target; it may not be reached, or it may be exceeded. Stubbornly sticking to a target is not advisable; the key lies in the choice after achieving the target: should you close the position or hold on? This depends on the “trend.”