Trading cryptocurrencies is essentially about trading trends; a bull market is primarily an upward trend, and pullbacks provide opportunities!
The recent market situation has washed away a good number of retail investors, and those who chased high prices have become the fuel for the bull market. As long as you know how to read the charts, the big players won't be able to take advantage of you. Let me share some key trend lines; the support of these trend lines is critical entry points during the upward process.
Here are a few tips to avoid missing out:
1. Upward trends are not easily broken. Every time there is a pullback to the trend line, it's a good opportunity to enter the market boldly. Don't be afraid of pullbacks; they just allow you to enter at a better price.
2. Momentum during an upward trend is sustained; moving away from the trend line means increased risk and reduced returns. Don't be misled by the market's 'feelings' that suggest you should enter just because you think prices will rise; these are illusions created by the big players. Chasing highs leads to losses; remember this.
3. Go with the trend; trading cryptocurrencies means following the trend. If the trend looks bullish, the price points are very important. For example, the risk difference between buying BTC at 60,000 and buying BTC at 100,000 is significant. Therefore, grasp every pullback to the trend line as a key point; that is the best time to lay in wait.
4. As long as you don't chase highs, retail investors can turn into profit-makers. The market is still in the early stages of a bull market and has not yet reached the point of crazy explosions. At this stage, if you manage your positions well and allocate your funds reasonably, it won't be a problem for your account to steadily triple to quintuple over the next six months.