Learn these few rules, and you can easily make a profit in the crypto world and get 100 times your investment!
Here are some tips for trading cryptocurrencies:
Price breaks through key lines, don't miss short-term opportunities
Explanation: Once the price breaks through an important support or resistance level, there may be a short-term trading opportunity. Don't hesitate, seize it quickly.
After a big rise, don't rush to chase the high
Explanation: After a significant price increase, there is often a correction process. During this time, don’t rush to buy at high prices; you need to stay calm.
Price rises but volume doesn't increase, the main force may be deceiving
Explanation: If the price goes up but the trading volume doesn’t change much, it might be a trick by the main force trying to lure retail investors. You need to stay alert.
Don't panic when prices drop sharply with low volume, withdraw if it falls slowly with increasing volume
Explanation: When the price drops sharply but the trading volume is low, don't panic right away; if the price falls slowly with increasing volume, then you should withdraw quickly.
When the main rise speeds up, it may be nearing the top
Explanation: When prices are rising rapidly, it is likely approaching the top. You should pay attention to top signal in advance and be prepared.
Don't chase high prices when buying, wait for a pullback to take action
Explanation: When buying cryptocurrencies, never wait until the price has risen very high to buy, as that carries too much risk. It’s best to wait for a pullback and buy when the price is relatively reasonable.
Look at daily and weekly charts, the main force's movement is key
Explanation: When observing price trends, don't just look at the daily chart; you need to consider the weekly chart and even longer-term charts to better grasp the main force's trends and market direction.
Don't panic over small fluctuations, be cautious during big rises
Explanation: When prices fluctuate slightly, there's no need to worry too much; but if prices rise significantly for a consecutive period, then you need to be alert and not let the market's enthusiasm cloud your judgment.
New lows in price with shrinking volume may indicate a bottom: when trading volume rebounds and price rises, it’s a good time to enter
Explanation: If the price drops to a new low and the trading volume is also shrinking, it may indicate that a bottom has been reached; when the trading volume begins to rebound and the price starts to rise, that’s a good time to enter.
