Six Don'ts for Buying, Four Don'ts for Selling: Direct Tips for Trading Cryptocurrencies

Six Don'ts for Buying:

1. Don't touch coins that have been continuously dropping and haven't stabilized at the 60-day moving average.

Follow the trend; for coins that keep dropping, let's wait and see when they turn around.

2. Don't buy coins that rise and then receive good news.

When good news comes, it often signals a selling opportunity; for coins that have already risen, the main players might want to cash out.

3. Don't chase coins that have surged too quickly and are far from the 5-day moving average.

Coins that rise too quickly come with high risks, chasing highs can easily lead to losses.

4. Don't take risks with coins that suddenly spike at high levels.

A sudden spike at high levels carries significant risks; it might be that the main players are quietly selling.

5. Avoid coins with a turnover rate exceeding 30%.

A high turnover rate indicates intense competition between bulls and bears; let's steer clear of this volatile market.

6. Don't be fooled by coins that are still holding up in a bad environment.

If the market is struggling but a coin is still being pushed up, it’s likely just a smoke-and-mirrors tactic.

Four Don'ts for Selling:

1. Hold onto coins with an RSI between 50 and 80.

An RSI in the mid to high range indicates that the coin still has strength; holding on can yield more profits.

2. Don't rush to sell coins that have jumped from a low position.

A gap up indicates strong bullish momentum; let’s see if it can continue to rise.

3. Hold tight onto coins that are trending upwards.

Following the trend, coins in an upward momentum will yield more profits the longer you hold.

4. Don't easily sell coins that have concentrated chips in one place.

When chips are piled together, the main players might still want to push the price up; waiting for a peak to sell isn’t too late.

Cryptocurrency Trading Insights:

When it comes to trading cryptocurrencies, rules must be followed; it can't be based on feelings. Understanding the trend is much more reliable than random guessing!

I share practical tips every day because I want to help everyone earn real money in the crypto space.

The "Six Don'ts for Buying, Four Don'ts for Selling" is my summary of practical experience, hoping to guide everyone!

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