1. Keep a close watch on Bitcoin trends
In the crypto world, Bitcoin often leads the rise and fall. While Ethereum can sometimes perform strongly and create independent market trends, most altcoins are influenced by it.
2. Pay attention to the relationship between Bitcoin and USDT
Bitcoin and USDT often move in opposite directions; when USDT rises, be cautious of Bitcoin falling, and when Bitcoin rises, it’s an opportunity to buy USDT.
3. Seize trading opportunities in the early morning
From midnight to 1 AM, the phenomenon of price spikes is common. Domestic coin enthusiasts can place low buy orders for their desired coins before sleep and high sell orders, which may result in pleasant surprises and easy profits.
4. Observe the morning rise and fall trends
Every morning from 6 to 8 AM is a crucial time to determine whether to buy or sell. If the price has been continuously dropping from midnight to 6 AM and is still dropping at this time, it’s advisable to buy or add to positions, as there’s a high probability of a rise that day; if it has been continuously rising, it’s advisable to sell, as there’s a high probability of a decline that day.
5. Pay attention to afternoon volatility points
Pay special attention at 5 PM, as due to time differences, American coin enthusiasts start trading, which may trigger price fluctuations. Many significant rises and falls occur at this time.
6. Be cautious of 'Black Friday'
There is a saying in the crypto world about 'Black Friday'; while there can be significant declines on Fridays, there can also be large increases or sideways movements, so it’s important to pay attention to news.
7. Be patient with falling coins
If a coin with a certain trading volume falls, don’t worry; holding patiently can often lead to breakeven. It may take as short as 3-4 days or as long as a month. If you have spare money, you can add to your position in batches to speed up breakeven, unless it's a worthless coin.
8. Stick to long-term spot trading
Engage in spot trading, hold the same coins for the long term and trade less; often, the returns are greater than frequent trading, it just depends on patience.
9. Pay attention to external influencing factors
The crypto market's turbulence is influenced by many factors, such as countries' attitudes towards cryptocurrencies, which can cause declines if negative; U.S. financial policies, like rumors of a wealthy tax; and opinions from big players on cryptocurrencies, such as Musk's statements. It is essential to pay attention to financial news.
10. Maintain a good trading mindset
The mindset when trading cryptocurrencies is critical; don’t panic during significant drops, and don’t become arrogant during big gains; securing profits is essential.