Share several key points you must know about trading cryptocurrencies
Remember the following 5 points to help you minimize losses and maximize profits
1. Rapid rise and slow fall = accumulation. If the price of a coin rises quickly but falls slowly, it may indicate that the market maker is quietly accumulating positions, preparing for the next surge.
2. Rapid fall and slow rise = distribution. A quick drop followed by a slow rise indicates that the market maker is gradually distributing their positions, and the market may soon enter a downward trend.
3. Don’t panic when there’s high volume at the top, but run quickly when there’s no volume at the top. High trading volume at a high price level may suggest further upward movement; however, if the volume decreases at high levels, it indicates a lack of strength in the rise, so it’s best to exit quickly.
4. Don’t rush to buy when there’s high volume at the bottom; consider it only if the volume continues. High volume at the bottom may indicate a correction in a downtrend, so observe carefully; if the volume continues to rise, it indicates capital inflow, and you can try to buy at a lower price.
5. Trading cryptocurrencies = trading emotions; emotions determine consensus. Market emotions drive price fluctuations, while trading volume is a direct reflection of consensus.
I will occasionally share more market advice and strategies in the chat room.
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