Eight experiences in cryptocurrency trading, I suggest you collect them!
These are my experience summaries in trading, I hope they will be helpful to you:
1. In an upward trend, declines are all traps
In an upward trend, occasional declines are often for washing the market. There is no need to panic about the decline at this time, but it is a buying opportunity.
2. In a downward trend, rises are all traps
In a downward trend, short-term rises are often to attract retail investors to chase highs, thereby further shipping, so you should be cautious at this time.
3. High-level sideways trading means shipping
When the price is sideways at a high level, it is usually the main force that is gradually selling its positions and preparing to fall.
4. Low-level sideways trading means absorbing funds
When the price is sideways at a low level, it is often the main force that is quietly absorbing funds and preparing to pull up.
5. In an upward trend, a small drop is a buying opportunity
In an upward trend, a short-term small drop is usually temporary and a good time to continue buying.
6. In a downward trend, a small rise is a sell signal
In a downward trend, a short-term small rise is mostly a rebound, which is a good time to sell.
7. If you hold the support level for a long time, you will lose it.
After the support level is tested many times, it will often be broken, which means that the support strength is insufficient and the price may continue to fall.
8. If you attack the resistance level for a long time, it will be broken.
After the resistance level is tested many times, it will often be broken, which means that the pressure is insufficient and the price may continue to rise.
Collect these experiences, summarize your own trading strategies, and continuously improve your trading level to be able to navigate the market with ease.
If this article is helpful to you, you may wish to pay attention to it. If you have any questions that you don’t understand, you need to consult or want to communicate and learn together. Read the introduction of the industry and try to join the circle