Today, I will present a set of carefully summarized practical tips.
Tip One: Wait for market changes and act wisely.
When the market is as unclear as fog, with both bulls and bears at a stalemate in a sideways phase, do not let anxiety cloud your judgment and act blindly. The wisest approach at this time is to keep calm. Closely monitor various technical indicators, market news, and capital flows, and wait for the moment when the situation becomes clear and the direction is discernible. Only then should you decisively enter the market to operate, as this will greatly reduce risks and increase your chances of success.
Tip Two: Don't be greedy for hot positions, be flexible in switching positions.
Popular cryptocurrencies always come with a halo, attracting a lot of capital inflow, causing prices to soar in a short time, making people excited. But remember, popularity comes quickly and goes quickly. If you cling to the temporary glory of a hot position and react a little slowly, you may very well get stuck at a high position. Therefore, always stay alert and closely monitor changes in popularity.
Tip Three: Long bullish candle, hold your positions tightly.
In the process of rising prices, if a high-opening bullish candlestick appears in the K-line chart, like an arrow piercing the clouds, and the trading volume increases simultaneously, it sounds the horn for the market's accelerated charge. At this moment, do not be frightened by the short-term gains and easily sell your positions. On the contrary, you should be confident and firmly hold onto your coins, as this often indicates that a larger upward space is about to open, and the subsequent market is expected to continue rising.
Tip Four: Huge bullish candle, secure your profits.
Regardless of whether the price is high or low, once a huge bullish candle appears in the K-line chart, it is like the calm before a storm, likely hiding the risk of a pullback. Even if the price has already reached its limit and seems prosperous, do not let victory cloud your judgment; you must quickly exit the market in a timely manner.
Tip Five: Seek opportunities online, avoid risks offline.
Understanding moving averages and accurately grasping support and resistance levels are essential skills for survival in the cryptocurrency market. The daily moving average acts as the offensive line on the battlefield, guiding us in the short-term defensive direction. Generally, observing for 3 to 7 days can provide a relatively accurate short-term trend signal. When the price stabilizes above the daily moving average and the moving averages are in a bullish arrangement, it is a good time to buy on dips, referred to as 'buying in the online shadow'; conversely, when the price falls below the daily moving average and the moving averages turn bearish, it is a critical moment to sell decisively, called 'selling in the offline light'. By following this strategy, one can effectively avoid risks and seize opportunities.
The cryptocurrency market is both a 'dream factory' for wealth and a 'high-risk area' for dangers. Only by thoroughly understanding these tips can one carve out their own space in a market filled with both opportunities and challenges.
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