A seasoned veteran in the crypto space once shared a profound insight with me that opened my eyes: "This circle is all about retail investors messing around. If you can control your impulsive tendencies, money will flow to you like water!" He entered with 100,000 yuan back then, and now his wealth has grown to over 40 million. This advice carries weight.
If you want to make a living in the crypto space, you need to have some unique skills. From the pitfalls I've encountered and the money I've made over the years, I've summarized a few practical techniques that are grounded in reality, and today I'll break them down for you.
[Beginner's Guide to Entering the Market]
When you first enter the market, don't rush in like a rookie. Start with a little pocket money to test the waters. It's like learning to swim; start in the shallow end, understand the market's temperament, and then gradually increase your investment. Remember: taking too big steps can lead to mistakes; a steady approach is the way to go.
[Golden Rule for Sideways Markets]
See the price stagnating at a low level while still making new lows? It's time to roll up your sleeves and buy the dip! Conversely, if it's repeatedly spiking at a high level, quickly cash out. Last year, I encountered Bitcoin stagnating at $30,000 for half a month before it suddenly crashed; fortunately, I got out quickly.
[Survival Manual for Volatile Markets]
If the price suddenly spikes, don't be greedy; sell immediately! If there's a dive, don't panic; jump in. If the market is stagnant like a dead fish, it's better to sit back and watch than to make rash moves. Remember this rule: the longer the sideways trend lasts, the bigger the move that follows. Last month, Ethereum had three days of sideways movement and then suddenly surged 30%; those who had positions made a killing.
[The Art of Timing Trades]
If the market crashes in the morning, don't rush to cut losses; it might be a good opportunity to pick up bargains. If the market surges right after opening, quickly take your profits. If there's a sudden spike in the afternoon, don't chase it; it's likely the big players are fishing. If there's a drop at the end of the day, there's a good chance there will be cheap goods the next day. Buy on bearish candles and sell on bullish candles; going against the crowd is how you make money.
[Risk Control Life Saver]
When the market suddenly surges like a wave, something big is definitely about to happen. After consecutive rises, a pullback is inevitable. If the K-line forms a triangle pattern, it's time to withdraw. For upward trends, watch for support levels; for downward trends, watch for resistance lines. Going all in is something gamblers do; taking profits at the right time is what smart people do. The LUNA crash last year is a typical example; those who were greedy now have tombstones two meters high.
[Five Practical Strategies]
Range trading strategy: Cryptocurrency prices are like a spring; when pressed down, they will bounce back up, and when they rise too high, they will drop. Use Bollinger Bands to find the upper and lower bounds; buy near the bottom and sell at the top. Last year, I made five waves of profits using this method on Dogecoin.
Breakout chasing technique: Prices that have been stagnant for a while will eventually explode, just like a pressure cooker. When Bitcoin broke through the $20,000 resistance last December, I immediately jumped in and made a 20% profit in three days. However, this technique requires quick reflexes; if you're slow to react, you'll end up as the bag holder.
Riding the trend strategy: After a major trend forms, don't fight it; a pullback is an opportunity to get in. Use moving averages and trend lines to gauge direction, just like surfing with the waves. During the initial altcoin surge this year, I waited for a pullback to the 10-day moving average before entering.
Key level sniping method: When the price hits previous highs and lows, it's like hitting a wall; reverse operations are usually correct. Last month, when Ethereum hit the $2,000 resistance and couldn't break through, I opened a short position and made 15% in two days.
Retracement strategy: After a sharp rise or fall, there will always be a rebound, just like a ball bouncing off the ground. In March this year, after BNB suddenly surged 30%, it retraced, and I seized the opportunity to profit from a 10% rebound. However, this strategy requires careful observation of K-line patterns; inexperienced beginners can easily make mistakes.
In the end, trading cryptocurrencies is a contest with yourself. Don't be envious when you see others making money, and don't get upset when you lose money. Set clear profit and loss limits, and don't hesitate to cut losses when needed. Remember: the market is never short of opportunities; what's lacking is the ability to control oneself. Those who chase after every rise and fall will eventually be taken advantage of. Take it slow; slow and steady wins the race, as money doesn't come through haste.
Playing in the crypto space is essentially a battle between retail investors and big players. If you don't have cutting-edge information or firsthand data, you'll just get taken advantage of! If you want to strategize together and harvest profits from the big players, you can call me.
Daily focus: OM SUI SOL FUN BTC
