Discipline surpasses talent, and patience is more ruthless than execution.
Old Zhao next door is the least like a 'big shot' in the cryptocurrency world that I've ever seen. Ten years ago, he entered the market with 100,000 yuan in capital, and now he holds five property certificates. He hasn't joined a single trading group on his phone, and he always only opens the most basic K-line chart in trading software.
When I asked him for the secret, he smiled and said: 'I'm a simple person, I can only remember six catchy phrases.'
Later, I secretly wrote down his six sentences and posted them in front of my computer. Surprisingly, I made a 20% recovery in three months. Today, I am sharing this valuable information with you. Survival in the cryptocurrency world does not require dazzling techniques; it only requires the 'simple work' of someone like Old Zhao.
First, don't panic during a sharp rise and slow decline; that's the main force accumulating.
What torments people in the crypto world is not the crash, but the 'slow knife cutting meat'. But Old Zhao tells me that a sharp rise followed by a slow decline is an opportunity.
Last year, Bitcoin rose from 30,000 to 45,000, then declined for two weeks. Many panicked and sold, but Old Zhao calmly added to his position. He said: “A rapid rise is retail investors following the trend, while a slow decline is the main force lowering the price to accumulate. If they were really offloading, they would have dumped it long ago; why would they give you time to sell slowly?”
I have seen his logic in Ouyang Xiao's ten years of review—trading volume does not lie. If the price slowly declines but the trading volume continues to shrink, it indicates that selling pressure is gradually exhausted, which is often a signal of a bottom.
Second, don't bottom fish on a sharp drop and weak rebound; that's money running away.
But there is one type of drop that Old Zhao definitely avoids: weak rebounds after sharp drops.
In 2022, when Luna collapsed, the coin price dropped 90% in one day and then rebounded 20%. Many rushed in to 'bottom fish', but ended up losing everything. Old Zhao said: “This is a typical case of the main force running away. A sharp drop is panic selling, and a weak rebound is a trap for retail investors; whoever enters will be left holding the bag.”
The lesson that veteran traders have learned with real money is: during a downtrend, the rebound most feared is 'weak sideways movement'. A true bottom is usually accompanied by sustained volume and strong upward movement, not hesitant slight increases.
Third, high volume at a high level does not count as a top; low volume is the turning point.
Old Zhao's most classic battle was when Bitcoin surged to $60,000 in 2021. The market was boiling, trading volume surged, and everyone was shouting that it would reach $100,000. He, however, began to sell in batches.
His logic is: “High volume at a high level indicates there are still buyers, while low volume is the end of the market.” Sure enough, after two weeks of fluctuating around $60,000, Bitcoin's trading volume couldn't keep up, and the price plummeted.
This coincides with the 'volume-price divergence' in traditional technical analysis—when the price reaches a new high but the trading volume cannot keep up, it means momentum is fading, and the trend may reverse.
Fourth, a single surge at the bottom is a trap; continuous surges indicate real opportunity.
Bottom fishing is a technical skill. Old Zhao never believes in 'single needle bottom hunting'; he only pays attention to continuous volume increase.
He said: “Market makers are best at creating fake lines. A single surge in volume might be a trap to lure in retail investors. But a true bottom is always the result of sustained capital inflow.” His standard is: at least three consecutive days of increased volume, with a steadily rising price; only then is it a reliable entry signal.
This method has helped him avoid countless false rebounds. Just like that time in early 2023, when Bitcoin suddenly surged in volume by 15%, many rushed in, but the next day it dropped back to square one. Old Zhao didn't move because 'the volume didn't sustain'.
Fifth, candlesticks can deceive, but volume is the electrocardiogram.
Old Zhao often says: “The candlestick chart is the face of the crypto world, but volume is the substance.” The market maker can draw lines to deceive, but it's hard to fake trading volume.
He has a vivid metaphor: “Red and green volume bars are like heartbeats; orderly and strong is good, chaotic is bad.” In a healthy rising trend, price increases with volume increases, and price decreases with volume decreases are standard patterns. If the price surges but the trading volume shrinks, or if the price drops significantly while the volume surges, these are danger signals.
This is also why experienced traders insist on reviewing trading volume daily; it is the most direct indicator of market sentiment.
Sixth, if you have no coins, your heart is free of worries.
What impresses me most is Old Zhao's discipline in staying in cash. His longest cash position lasted 278 days, during which Bitcoin rose 40%. Many laughed at him for missing out. He replied: “The crypto world lacks opportunities, but what it lacks is capital.”
As a result, a month later, the bear market arrived, and those who 'operated daily' lost 30% of their capital, while he steadily bottom-fished with cash.
Veteran trader Ouyang Xiao also said the same thing: the crypto market never lacks opportunities, what it lacks is capital. Surviving is key to waiting for the opportunity.
“Being 'dumb' is a strategy.”
Old Zhao's 'dumb' is actually a deliberate choice for simplicity.
In a market where everyone chases complex indicators and insider information, he adheres to his simple rules as if guarding the most important asset. He said: “Those big accounts who show off their profits every day would have become the world's richest if they were that capable. I am 'dumb', so I don't guess tops or bottoms, I only eat the belly of the fish, not the head or tail.”
This reminds me of what a veteran who turned 30,000 into 10 million said: the core of making money in the crypto world is to protect your capital and earn within your understanding.
After ten years of ups and downs in the crypto world, I have seen too many people lose themselves in pursuit of the 'holy grail'. Old Zhao's six maxims work not because they are precise, but because they conform to human nature and restrain greed.
Sometimes, the simplest principles are the most powerful. Surviving in the crypto world doesn't require you to be exceptionally smart, but you need to adhere to the rules and endure loneliness.
Just like Old Zhao said: “I am not a master; I am just an ordinary person who can survive in the market.”
And surviving is itself the greatest success in the crypto world.#巨鲸动向 $ETH
