The recent market conditions are really giving people headaches; trading has become particularly difficult.

Every wave of the market, every trade, no matter whether it ends in success or failure, is insignificant in your long trading career, among the countless transactions that number in the millions. Don’t get complacent because you made a profit once, and don’t let a loss make you frown and feel regretful. Always maintain a calm and steady heart, as this is the most powerful 'secret weapon' for us professional traders.
Once the market fluctuates and your asset values change, you become anxious, impulsive, and filled with fear and anxiety. At this point, regardless of whether your account shows a profit or a loss, you have actually lost. The overwhelming waves of the market can magnify these negative emotions infinitely, and when they wear you out, they will deliver a fatal blow.
Engaging in trading speculation can yield substantial returns if successful, but did you know? The probability of success is at most 1%, while the remaining 99% is likely to end in failure. So at the beginning, it’s wise to test the waters with a small amount, whether it's 1K or 2K; if you still have extra money on hand, consider buying some physical assets during a major drop.
If you unfortunately fail and lose all your capital, don’t lose heart. Calm down, work hard, save more money, and learn more knowledge before starting again. Remember, never borrow money; this is no joke. Once you get involved with borrowing, your life could fall into a deep abyss, affecting not just you but also your family.
In the trading speculation business, technology can sometimes be unreliable; mentality is the most crucial factor, accounting for at least 80% of the outcome. If you are heavily in debt, how can your mindset be good? It’s nearly impossible to achieve good results.
Take someone who has been trading cryptocurrencies for ten years, entering the market with a capital of 50,000. Now they can support a family through trading! It's no exaggeration to say that this person has tried 80% of the trading methods and techniques available on the market. If you also want to treat cryptocurrency trading as a side job to support your family, listen and observe more; you might discover insights that exceed your current understanding and avoid years of unnecessary detours!
So how do you determine whether a cryptocurrency has broken through? Here are some clever tricks from the perspectives of volume, price, time, and space.
Volume: As the old saying goes, 'Before the troops move, the grain and fodder must be prepared.' When a trend begins to form, an increase in volume is absolutely essential, especially the first increase after a long sideways trend, which should be given special attention. However, this is not yet the best time to enter; you generally need to wait for a pullback, allowing the main players to wash out the indecisive chips. It’s only during the second volume increase that we will have a real opportunity to take action.
Price: Looking at the closing price is the most reliable. No matter how exciting the fluctuations are during the process, as long as it can stabilize at the closing time, it indicates that the main players are serious! This is a key trick to distinguish between real and false breakouts. In summary, if the closing price can settle above the resistance level, the likelihood of a genuine breakout greatly increases.
Time: Before a breakout occurs, the cryptocurrency price should ideally have quietly experienced a long period of reduced volume consolidation, lasting at least over three months, and the concentration of chips should be less than 10%. Only then can the main players absorb enough chips, enabling a strong upward momentum once it breaks out.
Space: It’s essential to identify the key resistance levels. These resistance points can come from various sources, such as the position where the previous volume adjustment began to decline, or the necklines of W bottoms or head-and-shoulders bottoms, or even the integer levels of the cryptocurrency price. As long as we can accurately identify the resistance levels, we will have a clear understanding of how high the price can rise once it breaks through.
The above four dimensions are fundamental points for judging horizontal breakouts. To help everyone understand more thoroughly, Old Liu has decided to share a part of his long-preserved, handwritten notes on trading cryptocurrencies. Each summary inside is the essence that he has distilled from countless days and nights of reviewing.
Today, Old Liu is going to share a simple and practical tip for trading cryptocurrencies!
How to cleverly use support and resistance levels for trading? In the trading process, support and resistance levels are important 'indicators' for judging entry and exit timing. If used well, they can minimize risks and maximize profits.
How can we correctly draw support and resistance lines?
Step one, enlarge the chart and first find the larger timeframe. Old Liu believes that if we are looking at a larger timeframe chart, those particularly obvious key price levels will stand out. Generally, start from the weekly chart and then gradually drill down to the daily chart and 4-hour chart.
Step two, draw the most obvious price levels. These obvious levels are usually places where highs and lows are clearly defined, or the starting points of a price increase or decrease. Begin drawing on the weekly chart, then refine it on the daily chart.
Step three, adjust the support and resistance lines drawn above to find the areas where the price has touched the most. This step is to fine-tune the lines drawn earlier, allowing these support and resistance lines to have as many 'intimate contacts' with some key price levels as possible.
For us investors, whether you are a beginner just starting out or an experienced trader, what we gain here is not just the growth of funds in our accounts, but also the accumulation of investment knowledge and experience. Following investment education not only helps you grasp the ideas of market analysis, the basic points of watching the market, and the tricks of using various investment tools, but also allows you to hear insightful interpretations of fundamentals, clarify the chaotic international situation, and distinguish various investment dynamics. It enables you to not only make money and become a winner in this investment game but also become knowledgeable and transform into an expert!
If you are currently in such a market situation and unfortunately trapped with significant losses, comment 333, don't hesitate.

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