Cryptocurrency Trading Tips (Part One)
1. Use technical indicators but don’t get bogged down in them.
There are countless technical indicators in candlestick charts, and sometimes learning too many can disturb objective analysis. The ultimate goal of learning these indicators is to acquire the information you need from them. If you have obtained the necessary information from one indicator, there is no need to get entangled with others, as many indicators in candlestick charts have similarities.
2. Go with the trend.
Those who go with the trend thrive, while those who go against it perish. In investing, one should go with the trend; grasping the large trends is like boarding a spaceship that will quickly take you to great heights, making it hard not to profit. Conversely, if you engage in counter-trend operations, especially during significant market movements, you may fall into a bottomless pit that cannot be filled, trapping the investor deeply and directly causing substantial losses. Therefore, grasping the trend is paramount.
3. History may not repeat itself, but there are lessons to be learned. In technical analysis, there are indeed times when you can capture clues from historical data. The cyclical nature of the market remains unchanged; other markets follow a similar pattern, transitioning from adjustment phases to growth phases, then to maturity, and finally to decline, in a continuous cycle. Therefore, historical data can be comprehensively considered in technical analysis.
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