Speculating on cryptocurrencies is speculating on trends; in a bull market, there are many upward trends, and pullbacks present opportunities!
The market in the past few days has shaken out many speculative retail investors; those who chased the highs have become the fuel for the bull market. As long as you can read the charts, the operators have no way to deal with you. This chart shares with everyone the key trend lines; the support of the trend line is a crucial entry point in an upward trend.
Here are a few tips to avoid missing the opportunities:
1. Once an upward trend is established, it won't be easily broken. Every time it pulls back to the trend line is an opportunity to get in, so be bold and take the plunge.
2. The momentum during an upward process is persistent; staying away from the trend line indicates greater risk, and potential profits decrease as well. Don't chase the market based on feelings; your intuition that something will rise is often an illusion created by the operators. Chasing highs will lead to losses.
3. Go with the trend; speculating on cryptocurrencies is about speculating on trends. When the trend is bullish, the entry points are very important. If you enter Bitcoin at 60,000, the risk is very different from entering at 100,000, so grasp every pullback to the key trend line as an opportunity to position yourself.
4. As long as you don't chase highs, retail investors can turn into skilled traders. We are currently in a very good early to mid-stage bull market, not yet at the point of a significant explosion. At this time, manage your positions well and allocate your account's funds properly. Over the next half year, it should be entirely possible for the account to conservatively multiply by 3 to 5 times without issue.
