If you currently hold spot positions, be sure to clarify the following three key points!😘
1. If you are trapped in a certain cryptocurrency, do not blindly increase your position. The first priority is to observe its trend.
If the trend is downward, you should exit in a timely manner or at least significantly reduce your position.👍
Do not keep adding when the price drops; otherwise, you will fall into the trap of heavy losses, which is a major taboo in cryptocurrency trading! Otherwise, you may incur heavy losses that are difficult to recover.
2. If there is a cryptocurrency in your watchlist that is performing strongly, with a decline smaller than other cryptocurrencies and an increase larger than others, then congratulations, you have discovered a strong coin.🤪
At this time, you should firmly hold and increase your position in this bull coin. If you have ample funds, invest more; if funds are limited, sell weak coins and buy this bull coin instead. Soon, you will witness a continuous increase in your account profits.
3. If you find that the lows of the cryptocurrency you hold keep declining, the pattern is worsening, and when the market (like BTC) is rising, this cryptocurrency is either stagnant or declining, you should be highly alert.🤐
This is likely a signal that the major investors have withdrawn their capital; at this time, you should decisively switch coins and not stubbornly hold on due to losses.
As a seasoned cryptocurrency investor, I, Tu Fei, share my experiences and insights. Interested in the cryptocurrency world but don’t know where to start? Follow me to check my homepage, and I will guide you to achieve freedom in this bull market.