This journey has had both losses and gains, but I've summarized some painful lessons to share with new friends who are still exploring:
1⃣ Hotspots need to switch; don't linger too long on altcoins.
Don't cling to trending coins; if you don't take profits in time after an altcoin surge, you can easily get trapped. Just like FIL and LUNA from previous years, after the peak comes the abyss. It's almost impossible to enjoy the whole ride; knowing when to switch is key to survival.
2⃣ An unusual move after sideways trading is a key signal.
After a high-level sideways market, a surge often entices buyers; be decisive in reducing positions or exiting. A 'false drop, true recovery' after a low-level sideways market often indicates that the major players have finished consolidating, making it a good time to buy the dip.
3⃣ Market sentiment determines the strength of the trend.
When the market is bad, if a coin can still consolidate or slightly rise, it indicates that funds are quietly entering; however, if a coin is still falling in a good market, be cautious; funds may be fleeing.
4⃣ Increase your position when making profits; don’t average down during a decline.
Don't think about making up for losses; you will only lose more. The real strategy is to add positions when the market is rising and cut losses when it's falling. Let profits run and stop losses in time; this is the core of trading.
5⃣ Recognize the rhythm of bottoming out and hold patiently.
Once judged to be at the bottom, it often experiences a 'two up, one down' oscillating rise; don't be easily thrown off the train. Especially during an upward trend, consolidation is the norm, and holding on can lead to surprises.
6⃣ When buying coins, pay attention to the sector, not just the coin.
Experts look at sectors, intermediate traders look at individual coins, beginners look at indicators, and gamblers rely on luck. First, identify strong sectors, then filter leading projects to improve your winning odds.
7⃣ True technical analysis looks at the relationship between volume and price.
All indicators derive from price and trading volume. Discussing technicals without considering volume and price is putting the cart before the horse. Remember, if the price is to rise, it must be driven by funds.
8⃣ Different trends require different operational logic.
In a rising market, look for support; a pullback is an opportunity to enter; in a downtrend, look for resistance; a rebound is a point to exit or short. Follow the trend for better results.
📌 If you are new to the crypto world, bookmark this article and read it slowly; if you've been in the crypto space for a long time, feel free to leave comments to share more useful information!
Remember this: there are no perpetual victors in the crypto world, but there are those who know how to cut losses.
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