1. Keep a close eye on Bitcoin trends
In the crypto world, Bitcoin often leads the rise and fall. Although Ethereum can sometimes perform independently, altcoins are mostly 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 as Bitcoin may drop. When Bitcoin rises, it is a good opportunity to buy USDT.
3. Grasp the trading opportunity in the early morning
From midnight to 1 AM, sudden price spikes are common. Domestic traders can place low buy orders for their desired coins before sleeping and high sell orders, which may lead to pleasant surprises and easy profits.
4. Observe the rise and fall trends in the early morning
Every day from 6 to 8 AM is a critical time to judge whether to buy or sell. If there is a continuous drop from midnight to 6 AM and it continues to drop, it is advisable to buy or add to positions; likely to rise on that day. If there is a continuous rise and it continues to rise, it is advisable to sell; likely to drop on that day.
5. Pay attention to afternoon volatility points
Pay special attention at 5 PM, as due to time differences, American traders will start operating, which may trigger fluctuations in coin prices; many significant rises and falls occur at this time.
6. Be cautious of 'Black Friday'
In the crypto world, there is a saying about 'Black Friday'. Although there may be significant drops on Fridays, there can also be major 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, do not worry; patiently holding onto it can help recover losses. It may take as short as 3 or 4 days, or as long as a month. If you have extra money, you can add to your position in batches to accelerate recovery, unless it is a worthless coin.
8. Stick to long-term spot trading
When trading in spot markets, holding onto the same coin for the long term while trading less often can yield better returns than frequent trading; it all depends on your patience.
9. Pay attention to external influencing factors
The volatility in the crypto market is influenced by multiple factors such as countries' attitudes towards cryptocurrencies, negative sentiments can lead to drops; U.S. financial policies, such as rumors of a wealthy tax; and opinions from influential figures like Musk. Stay informed with financial news.
10. Maintain a good mindset while trading coins
The mindset while trading coins is crucial; do not panic during significant drops, do not get arrogant during large rises, and secure profits.