Cryptocurrency trading secrets: 10 golden rules to help you grasp the market!
In this cryptocurrency market with frequent fluctuations and unlimited opportunities, how to seize profit points and avoid traps? Here are 10 core suggestions to help you stay invincible in the market:
1️⃣ Opportunity for rebound of popular coins after the 9-day decline
When a popular coin falls from its high point for 9 consecutive days, it may be an opportunity for a rebound after the chips are concentrated. Seize the low layout and don't wait for it to take off before chasing.
2️⃣ Be vigilant if it rises for two consecutive days
After the coin price rises for two consecutive days, it is often close to the short-term high. At this time, it is wise to take profits or reduce positions in batches.
3️⃣ A single-day increase of more than 7%? Wait and see
If a coin rises by more than 7% in one day, there is a high probability that there will be room for upward movement the next day. Don't rush to enter the market, observe whether the trend is stable before taking action.
4️⃣ The best entry strategy for strong bull coins
Strong bull market coins are not afraid of missing out on the rise. Wait until it pulls back to the support level and stabilizes before intervening. The winning rate is higher and the risk is lower.
5️⃣ Patient selection of sideways coins
For coins with small price fluctuations for many consecutive days, give it a three-day observation period. If there is still no movement, you might as well switch to a more promising target.
6️⃣ Stop loss decisively, time is cost
If the cost of the previous day cannot be recovered the next day after buying, stop loss as soon as possible. There is no shortage of opportunities in the currency circle. Only by learning to stop loss in time can you recover blood quickly.
7️⃣ The five-day rule on the increase list
If a currency rises for two consecutive days, the fifth day is often a good shipping window, seize the high point to lock in profits.
8️⃣ Pay attention to the warning signal of trading volume
Trading volume is a barometer of market heat. If the price of the currency rises but there is no trading volume support, be careful that it may be a trap to buy more, and be prepared to leave the market.
9️⃣ Moving average determines the buy signal
When choosing a strong currency, observe the trend of its 3-day, 30-day, 80-day and 120-day moving averages. If the moving averages are all upward, it means that the upward trend is established and it is worth paying attention to.
