The current market is booming. If you missed the market rhythm, I have two methods to follow strong coins during pullbacks:
For spot trading, everyone should carefully read and learn, it will be very helpful for you.
Method 1: New coins that break through the highest price on the first day of listing with increased volume
1. Choose new coins: Identify recently listed new coins, especially those with high trading volume and enthusiastic market response on their first day.
2. Determine the highest price of the breakout day: When the price of the new coin breaks through the highest price of the day with increased volume, it usually indicates strong market demand for that coin, and it may continue to rise.
3. Follow up with buying: Buy the coin at the right moment of the breakout with increased volume, and set a stop-loss point to control risk.
Method 2:
Breakthrough the annual line with increased volume and then a pullback with decreased volume:
1. Choose old coins: Identify old coins that have been in the market for a long time, and have good fundamentals and high market recognition at the annual line.
2. Monitor the annual line: Observe the annual line of these old coins (usually refers to the 200-day moving average) to determine if the coin price is close to or breaking through the annual line.
3. Determine the breakout: When the price of the old coin breaks through the annual line with increased volume, it usually indicates enhanced market confidence, potentially leading to a new round of increases.
4. Follow up on a pullback with decreased volume: Wait for the coin price to experience a pullback with decreased volume after breaking through the annual line. When the price pulls back near the annual line, consider following up with a buy. It is also very important to pay attention to the overall market trend and changes in fundamentals to avoid blindly following.
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