If you are new to the world of cryptocurrencies, here are some important trading strategies to keep in mind:
1. Focus on buying when prices are falling rather than when prices are rising sharply, because selling must be in accordance with peak market conditions.
2. A gradual and steady increase indicates sustainable growth, while a sudden increase often signals an impending exit opportunity.
3. After a strong rally, expect a pullback—avoid overbuying when prices fall too far.
4. When prices rise significantly, it is usually a sign of an impending top—sell quickly when prices fall sharply, but take it slow when prices rise slowly.
5. A sharp drop without increasing volume can be misleading, while a slow drop with increasing volume indicates it is time to exit.
6. If the price breaks through major support levels, don't hesitate to take advantage of short-term price movements.
7. Pay attention to daily and monthly trends and watch for key factors when establishing positions.
8. If the price increases without a spike in volume, this is often a tactic to attract buyers—don't fall for it.
9. New lows on decreasing volume could indicate a market bottom, so consider entering when the recovery shows signs of strength.
By mastering these techniques, you will be better equipped to navigate the volatility of the cryptocurrency market.