In the crypto world, achieving financial freedom and class transition must adhere to market iron rules:
1. Keep a close eye on Bitcoin trends
In the crypto world, Bitcoin often leads the trends of rises and falls. While Ethereum can sometimes be strong and show independent trends, most altcoins are influenced by Bitcoin.
2. Pay attention to the relationship between Bitcoin and USDT
Bitcoin and USDT often exhibit inverse movements; when USDT rises, be wary of Bitcoin falling, and when Bitcoin rises, it's an opportunity to buy USDT.
3. Seize early morning trading opportunities
From 0:00 to 1:00 every day, there is a tendency for price spikes. Domestic crypto enthusiasts can place buy orders at low prices and sell orders at high prices before going to bed, or be pleasantly surprised with transactions and effortlessly make profits.
4. Observe the morning rise and fall trends
Every morning from 6 to 8 is a key period for judging whether to buy or sell. If the price has been falling continuously from 0:00 to 6:00 and continues to drop, it is advisable to buy or add to positions, as there is a high probability of gains that day; if the price has been rising continuously and continues to rise, it is advisable to sell, as there is a high probability of declines that day.
5. Focus on afternoon volatility points
Pay special attention at 5 PM, due to time differences; American crypto enthusiasts begin their operations, which may trigger price fluctuations, with many significant rises and falls happening at this time.
6. Be cautious of 'Black Friday'
There is a saying in the crypto world about 'Black Friday'; while there may be significant drops on Fridays, there can also be large rises or sideways movements, so keep an eye on the news.
7. Treat declining cryptocurrencies with patience
If a cryptocurrency with a certain trading volume falls, don't worry; patient holding can help you break even. The timeframe can be as short as 3-4 days or as long as a month. If you have extra funds, consider averaging down to speed up breaking even, unless it's a worthless coin.
8. Stick to long-term spot trading
Engage in spot trading, hold the same cryptocurrency long-term and trade less; returns are often greater than frequent trading, depending on your patience.
9. Pay attention to external influencing factors
The crypto market is influenced by many factors, such as various countries' attitudes towards cryptocurrencies, which can lead to declines; U.S. financial policies, like rumors of wealth taxes; and influential figures' views on cryptocurrencies, such as Musk's statements. Keep an eye on financial news.
10. Maintain a good trading mindset
The mindset in trading cryptocurrencies is crucial; don't panic during significant drops, and don't be arrogant during large gains; securing profits is essential.