Are you feeling a little lost as you have just entered the cryptocurrency world? Don’t worry, the following trading tips and ways to make money will help you adapt to this world full of opportunities and challenges more quickly.
1. Trading tips
1. Buy horizontally, buy pits, not vertically, and the selling point is at the peak. This means: buy when the price is stable or slightly adjusted, and avoid blindly chasing high prices when the price rises straight up. When the market reaches its peak and the market is bustling, it is often a good time to sell.
2. Continuous small increases are real increases, and continuous large increases require exiting the market If the price of a currency continues to rise slightly, it is likely to be a real upward trend. But if it continues to rise sharply, then you should be alert, as it may be a sign that the bubble is about to burst, and it is best to exit the market and wait and see.
3. After a sharp rise, you need to step back. Don’t dig a deep hole and don’t buy too much. When the price of a currency rises suddenly and sharply, there is often a need for a pullback. If the pullback is not deep, don’t buy it easily. The real buying opportunity often appears after the price has experienced a deep pullback.
4. If the price of a currency accelerates during the main rise, it often means that it is about to reach its peak. If the price falls rapidly, you should sell it quickly; if the price only rises slowly, you can sell it slowly.
5. A sharp drop without volume is a threat, a slow drop with large volume means you should withdraw immediately. If the price of a currency drops sharply but the trading volume is not large, this may be a threat from the market. However, if the price drops slowly but the trading volume increases, you should be alert, as this may be a signal of capital flight and you should withdraw as soon as possible.
6. If the price breaks through the lifeline, do not hesitate to make a swing operation. The lifeline usually refers to some important technical indicator lines or moving averages. If the price breaks through these lifelines and continues to rise, do not hesitate and decisively make a swing operation.
7. Look carefully at the daily and monthly lines, and follow the main force to build positions. The daily and monthly lines are important tools for observing market trends. By carefully analyzing these line charts, you can better grasp the main force and trend of the market, and thus build your own positions.
8. If the price of the currency rises without volume, the main force is luring more, don't stand guard. If the trading volume does not increase significantly during the rise of the price of the currency, then this may be the main force luring more. At this time, don't blindly follow the trend and buy, so as not to become a "leek" standing guard. A new low with shrinking volume is a bottom image, and an incremental rebound is necessary to enter the market. When the price of the currency reaches a new low after a shrinking volume decline, this is often a signal of the bottom. If the trading volume begins to increase at this time and is accompanied by a price rebound, then it is a good time to enter the market.
2. Ways to make money There are many ways to make money in the cryptocurrency world. Here are nine common ways:
1. Cryptocurrency speculation: earning the difference by buying and selling cryptocurrencies.
2. Hoard valuable coins: Hold potential coins for a long time and wait for their value to rise.
3. Exchange arbitrage (IEO): Take advantage of the exchange’s promotional activities or new coin issuance opportunities for arbitrage.
4. Airdrop: Participate in the project's airdrop activities to get free tokens and wait for them to appreciate.
5.DeFi Mining: Get mining rewards by participating in decentralized financial projects.
6. Mining with physical mining machines: Purchase physical mining machines for mining and get rewards.
7. GameFi Gold Farming: Earn in-game currency or tokens by participating in game financial projects.
8. Participate in the primary market: directly participate in the private placement or crowdfunding stage of the project to obtain low-priced tokens.
9. Donations to early projects: Support early projects through donations to obtain project tokens or interests.
All roads lead to Rome. There are many ways to make money in the cryptocurrency world. The key is to find a way that suits you and stick to it. I hope these tips and methods can help you adapt to the cryptocurrency world faster and find your own way to make money! $BTC $ETH
