Trading cryptocurrencies is about trading trends. In a bull market, there are many upward trends, and pullbacks are opportunities! Recently, the market has shaken out many speculative retail investors, and those who chased high prices have become the fuel for the bull market. As long as you can read the charts, the market makers can't do anything about you. This chart shares key trend lines; the support of trend lines is a critical entry point in an upward trend.
Here are a few tips to avoid missing out:
1. When an upward trend forms, it won't be easily broken. Every time it pulls back to the trend line, it's an opportunity to get in. Be bold and take the plunge.
2. The momentum during the upward process is sustained. Staying away from the trend line indicates increasing risk, and the profits above will be smaller. Don't chase the market based on feelings; your intuition about rising prices, those feelings to enter, are just illusions created by market makers. Chasing highs will lead to losses.
3. Go with the trend. Trading cryptocurrencies is about trading trends. When the trend is bullish, the entry point is also very important. The risk of entering Bitcoin at 60,000 is very different from entering at 100,000. Therefore, seizing every opportunity when the price dips to key trend line points is the time to set up.
4. As long as you don't chase high prices, retail investors can become savvy traders. We are currently in a very good early to mid-bull market phase, not yet at the stage of a major explosion. At this time, manage your positions well, allocate your account funds properly, and over the next half a year, a conservative account can easily triple to quintuple without any issues.