1. Keep a close eye on Bitcoin trends
In the crypto world, Bitcoin often leads the trends. While Ethereum can sometimes show strength and perform independently, most altcoins are influenced by it.
2. Note the relationship between Bitcoin and USDT
Bitcoin and USDT often move in opposite directions; when USDT rises, be cautious of Bitcoin dropping, and when Bitcoin rises, it’s a good time to buy USDT.
3. Seize trading opportunities in the early morning
Every day from midnight to 1 AM, price spikes can easily occur. Domestic traders can place low buy orders and high sell orders before sleeping, which may lead to unexpected profits.
4. Observe the morning fluctuations
Every day from 6 to 8 AM is a crucial time for deciding to buy or sell. If the price drops continuously from midnight to 6 AM, and it continues to drop, it's advisable to buy or average down, as it is likely to rise that day; if it continues to rise, it's advisable to sell, as it is likely to drop that day.
5. Pay attention to afternoon volatility
Pay special attention at 5 PM, as due to time differences, American traders begin their operations, which can trigger price fluctuations; many significant rises and drops occur around this time.
6. Be careful of 'Black Friday'
In the crypto world, there's talk of 'Black Friday'. While there may be significant drops on Fridays, there can also be large rises or sideways movements; just pay attention to the news.
7. Be patient with declining coins
If a coin with a certain trading volume drops, don’t worry; holding patiently can help recover costs. It may take 3 to 4 days at the shortest, or up to a month at the longest. If you have extra funds, you can average down in batches to speed up recovery, unless it’s a worthless coin.
8. Persist in long-term spot trading
Engage in spot trading, hold the same coin long-term with fewer trades; the returns are often greater than frequent trading, it just depends on your patience.
9. Pay attention to external factors
The volatility in the crypto market is influenced by multiple factors, such as various countries' attitudes toward cryptocurrencies, negative sentiment leads to drops; US financial policies, such as rumors of a wealthy tax; and opinions from influential figures in the crypto space, like Elon Musk's statements. Keep an eye on financial news.
10. Maintain a good mindset for trading cryptocurrencies
The mindset for trading cryptocurrencies is crucial; do not panic during large drops, do not be complacent during large rises, securing profits is key.
