The biggest point in trading cryptocurrencies is having a good mindset; technical skills are secondary.
1. In most cases, Bitcoin is the leader in the ups and downs of the crypto market. Strong coins like Ethereum may sometimes deviate from Bitcoin's influence and have their own trends, but altcoins generally cannot escape its impact;
2. Bitcoin and USDT move in opposite directions. If USDT rises, be cautious as Bitcoin may fall; when Bitcoin rises, it is the right time to buy USDT;
3. Between 0:00 and 1:00 AM, there is a tendency for spikes, so domestic crypto enthusiasts can place buy orders for their desired coins at lower prices and sell orders at higher prices before going to bed; you might just make a deal while you sleep;
4. The time between 6:00 and 8:00 AM is a critical moment for deciding whether to buy or sell, and it is also when you can assess the day's upward or downward trend. If it has been falling from 0:00 to 6:00 AM and continues to fall during this period, it is a buying or averaging down opportunity, and the day is likely to rise. Conversely, if it has been rising from 0:00 to 6:00 AM and continues to rise, it’s a selling opportunity, and the day is likely to fall;
5. 5:00 PM is an important time to watch due to rumors in the community. Due to time zone differences, American crypto enthusiasts are waking up and starting their activities, which may cause fluctuations in coin prices. Significant rises or falls have indeed happened at this time, so pay special attention;
6. There is a saying in the crypto community about "Black Friday"—there have been instances of significant drops coinciding with Fridays, but there are also cases of significant rises or sideways movements, so it's not particularly reliable; just pay a little attention to the news;
7. If a coin with a certain trading volume drops, don’t worry. Patience in holding will definitely lead to a recovery. It could be as short as 3 or 4 days, or as long as a month. If you have spare USDT, average down in batches to lower the price; recovery will be faster. If you don’t have spare cash, just wait; it won’t disappoint you.
8. For spot trading of the same coin, long-term holding with fewer trades yields greater returns than frequent trading. It all depends on whether you have the patience to hold. I bought Dogecoin at 0.089, and it has multiplied over 20 times since then.
