Want to turn a few thousand into tens of millions by trading cryptocurrencies? Let me give you a few tips, but remember, this is not a joke, you need to study hard!
First, when you see those coins that are soaring, and they start to drop from a high position for 9 consecutive days, you should keep your eyes wide open, follow the trend, and you might just find an opportunity.
On the other hand, if a coin has been rising for two consecutive days, don't celebrate too early; it's best to reduce your position quickly, as stable investing is the way to go.
There's also a rule: if a coin surges more than 7% in a day, it might continue to rise the next day, so you can hold off on selling for now and see how it goes.
For those truly strong coins, don't rush to pile in; wait for it to pull back and stabilize before entering.
If a coin has been stagnant for several days, wait three more days to see if it remains inactive; if it doesn't move, consider switching to another coin and don't get stuck on one.
If the coin you bought today can't even recover yesterday's cost tomorrow, don't hesitate, pull out quickly and don't get attached to the battle.
There's a trading mnemonic: "If there are three on the rise, there must be five; if there are five, there must be seven," which means that for coins that have risen for two consecutive days, you can look to buy at a low point, and generally, the fifth day is a good selling point, so remember to seize the opportunity.
Trading volume is the barometer of cryptocurrency trading, and it needs careful study. If the coin price breaks out with increased volume at a low position, it might be on the rise; however, if it increases in volume at a high position but doesn't move up, then it's time to run, don't hesitate.
You need to follow the trend in trading; only coins in an upward trend are worth your time. For short-term, look at the 3-day line; for medium-term, check the 30-day line; and for long-term, look at the 120-day line. If these lines are turning upwards, that's a signal of a rise.