Beginner Trading Tips:
1. Buy sideways and don't buy vertical: Choose to buy cryptocurrencies that are consolidating sideways or have just dipped, and avoid chasing highs during a straight surge. Sell when the market is booming and sentiment is high.
2. Continuous small rises are real rises: If the cryptocurrency price rises slightly and continuously, this is usually a signal of a genuine rise; however, if there are consecutive large increases, be cautious of pullback risks and exit in time.
3. Significant surges require pullbacks: After a significant surge in price, there will often be a pullback. If there isn't a deep dip during the pullback, it could be a good buying opportunity.
4. Accelerating main rises indicate a peak: When the price enters a main rising wave and accelerates upward, it often indicates that a peak is approaching. At this point, sell decisively to avoid being trapped.
5. Sharp drops with low volume are intimidation: If the price drops sharply but the trading volume is small, this often indicates that the main funds are intimidating retail investors. In this case, there is no need to panic; patiently wait for a rebound opportunity.
6. Gradual drops with increasing volume require quick withdrawal: If the price is slowly dropping and trading volume is increasing, this usually signals that the main funds are offloading. At this point, be decisive in withdrawing to avoid larger losses.
7. Price breaking through the lifeline: When the price breaks through an important lifeline (such as moving averages, trend lines, etc.), do not hesitate; decisively engage in swing trading.
8. Pay attention to daily and monthly charts: By carefully observing daily and monthly charts, you can better grasp market trends and the movements of major players. Building positions in line with the major players often yields better profits.
9. Price attacks without volume are traps: If the price is rising without accompanying trading volume, this usually indicates that the main funds are luring investors. In this case, do not blindly follow the trend to avoid being trapped.
10. Low volume new lows indicate a bottom: If the price reaches new lows with decreasing volume, this usually signals a bottom. At this point, you can gradually build positions while waiting for a rebound opportunity.
In the cryptocurrency world, the simpler things are often more effective. These tips are the crystallization of wisdom; learn and remember them, and apply them flexibly in practice to avoid many detours.