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Six Key Points for Short-term Cryptocurrency Trading
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1⃣
After the price stabilizes at a high, there will usually be a new high. Conversely, after stabilizing at a low, it typically reaches a new low again. Therefore, we should wait for the direction of change to become clear before taking action.
2⃣
Do not trade during sideways movement; most people lose money in cryptocurrency trading because they cannot adhere to this simplest principle.
3⃣
When selecting candlesticks, buy when receiving a bearish candle and sell when receiving a bullish candle.
4⃣
A slowdown in decline leads to a gradual rebound, while a rapid decline will result in a swift rebound.
5⃣
Build positions using a pyramid buying method; this is the only consistent strategy for value investing.
6⃣
When a cryptocurrency has been continuously rising or falling, it will inevitably enter a consolidation phase. At this time, there is no need to sell everything at a high or buy fully at a low. After consolidation, a change is bound to occur. If it changes from high to low, it’s important to clear positions in time; essentially, we must act promptly.
