$BTC $ETH After a few years of navigating the cryptocurrency world and experiencing countless ups and downs, I've summarized my insights into eight key phrases.
1. Skillfully utilize morning market conditions: In the morning, market sentiment is at its purest. If prices plummet, don’t panic; this could be a great opportunity to buy low. If the morning sees a strong upward trend, don’t get greedy; take the opportunity to sell and lock in profits.
2. Master afternoon strategies: If there's a sudden surge in the afternoon, don’t get swept away and follow the trend to buy in; this is often just a mirage, and entering at a high can lead to losses. Conversely, if there’s a major drop in the afternoon, it’s wise to stay calm, observe for a while, and find the right entry point the next day to acquire low-priced assets.
3. Maintain a calm mindset during downturns: If you wake up in the morning to see a significant drop in cryptocurrency prices, don't rush to cut losses; the market changes rapidly, and early morning fluctuations are often a 'smoke and mirrors' trick. If the market is stagnant, with no movement, it can lead to frustration.
Also, don't rush; it might be wise to take a break, recover your strength, and wait for the right opportunity.
4. Strictly adhere to trading rules: If the cryptocurrency in your hand hasn't reached your expected high price, don't sell easily; making less is still a loss. If it hasn't dropped to your psychological price point, hold back and don't rush to buy, to avoid catching a falling knife halfway. As for the sideways phase, with chaotic trends and unclear direction, trading at this time is undoubtedly like a blind person feeling an elephant; it's better to watch from the sidelines.
5. Operate based on candlestick patterns: Buy on bearish candles, sell on bullish candles; this is a classic strategy. A bearish candle indicates a price correction and cheaper chips, making it a good time to enter; a bullish candle signals the formation of a short-term uptrend, suggesting to sell at a high to secure profits.
6. Breakthrough with contrarian thinking: To stand out in the cryptocurrency world, sometimes you need to do the opposite. When everyone is frantically buying, stay calm; when there's panic selling, be bold, and dare to go against the trend to find niche opportunities for wealth.
7. Endure the agony of consolidation: Prices consolidating at high or low levels for long periods can be torturous. Don’t be swayed by anxiety and act rashly; be patient, remain calm, and wait for the trend to clarify whether it's going up or down before fully committing.
8. Seize the tail end of a surge: After a prolonged period of horizontal movement at high levels, if there's a renewed upward push, don’t hesitate; this is likely the final frenzy. Sell promptly to secure your profits; otherwise, they might slip away, and the cooked duck could fly.
Follow Xiao Cai's cryptocurrency advice, guiding you through all difficulties.
