The principles of cryptocurrency trading in a bull market can be summarized as a combination of technical aspects and cycle theory. The key elements are as follows:
First: Maintain your position and never go short.
While ensuring that you only use spare money for investment, buy mainstream coins with the largest position. In the early stage of a bull market, prices are still relatively low, so you must dare to hold on to the coins for short-term trading. Be sure to follow the main operation to avoid diverging from market trends.
Second: Avoid chasing highs and buy on dips.
Don't blindly chase up when prices are too high. A bull market will not rise straight all the way, and there will always be opportunities for a pullback. Seizing the opportunity of a pullback to increase your position and go long is the best strategy in a bull market.
Third: Avoid short selling and go with the flow.
In a bull market, any idea of short selling is dangerous. Going with the flow and following market trends is a smart investment decision, and never go against the general trend.
Fourth: Resolutely do not buy junk coins.
Even if junk coins rise a lot in the short term, they lack long-term consensus support and will eventually burst the bubble. When investing, you should focus on leading currencies with actual consensus and market recognition, and avoid chasing the empty bubble of short-term gains.
Summary: stabilize your position, seize the callback to increase your position, follow the trend, choose high-quality leading coins, and seize opportunities in the bull market.
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