The most important thing in the crypto world is mindset
The most important thing in the crypto world is to have a good mindset; technology is secondary!
1. In most cases, Bitcoin leads the rise and fall of the crypto market. Strong coins like Ethereum sometimes break away from Bitcoin's influence and show independent trends, while altcoins generally cannot escape its influence;
2. Bitcoin and USDT move in opposite directions. If you notice that USDT has risen, be cautious as Bitcoin may fall; when Bitcoin rises, it is the right time to buy USDT;
3. Between 12:00 AM and 1:00 AM, there is a tendency for price spikes, so domestic crypto enthusiasts can set a low buy price for their desired coins before going to sleep and a high sell price; you might just make a deal while lying down;
4. Every morning between 6:00 AM and 8:00 AM is a good time to judge whether to buy or sell, as well as to assess the day's price movements. If the price has been falling from 12:00 AM to 6:00 AM, and it continues to fall in that time frame, it is a good time to buy or add to your position, and the day will likely see a rise. Conversely, if the price has been rising from 12:00 AM to 6:00 AM, and it continues to rise during that period, it is a good time to sell, and the day will likely see a fall;
5. 5:00 PM is an important time to pay attention to rumors in the market. Due to time zone differences, American crypto enthusiasts are waking up and getting to work, which may cause fluctuations in coin prices. Some significant rises or drops have indeed occurred at this time, so it’s particularly noteworthy;
6. There is a saying in the crypto world about “Black Friday,” as there have been several instances of significant drops on Fridays, but there have also been cases of large rises or sideways movements. It’s not particularly reliable, so just pay a little attention to the news;
7. If a coin with a certain trading volume drops, don’t worry; patiently holding will definitely allow you to break even, whether in 3 or 4 days for short-term or up to a month for long-term. If you have extra USDT, add to your position in batches to lower the price; you’ll recover faster. If you don’t have extra money, just wait; it won’t disappoint you. Unless you really bought I coins;
8. Holding the same coin in spot trading long-term with less trading is generally more profitable than frequent trading; it just depends on whether you have the patience to hold.
In the end, the difficulty in making a profit lies not in the strategy but in the implementation. “When the coin price falls below the 30-day moving average for three consecutive days, you must decisively liquidate your position, without any illusion.” Just this one statement has eliminated 80% of people.
