In the cryptocurrency market, if you do not understand the key points of the major players' wash trading and selling, then it will be very difficult for you to make money in the crypto space.
Here are some key techniques:
1- Pay attention to trading volume: Trading volume usually shrinks during wash trading, while it expands during selling.
2.- Watch the price position: Major players usually conduct wash trading when the price has risen about 30%, and when the increase exceeds 60%, one should be wary of the possibility of selling.
3. Analyze the intraday chart: The intraday chart during wash trading often fluctuates wildly, while the intraday chart during selling is relatively stable.
Currently, the trends in the altcoin market vary, and the time periods for entering their respective cycles and bottom consolidations differ as well. Which altcoin to buy at the bottom, and how to determine whether that altcoin has entered its own bottom, depends on personal choices and judgments.
When the market enters the late stage of the bottom, there is no need to pursue absolute precision. A vaguely correct direction is often more valuable than fleeting accuracy. Bravely buying at relatively low levels and firmly selling at relatively high levels in the future is the way to victory.