$ETH Short-term trading in cryptocurrencies really doesn't require struggling with those flashy indicators!
$XNY I have organized 6 practical phrases that I've thoroughly understood in practice. Remember them and follow them; it's much more reliable than blindly following trends or making random operations.
$BTC First phrase: Wait for new highs during high-level consolidation, and guard against breakdowns during low-level consolidation. Newcomers shouldn't rush into high-level sideways markets; the main players are mostly accumulating strength. As long as it doesn't break key support, the probability of subsequent rises is greater; but during low-level sideways markets, don't recklessly try to catch the bottom, as it's easy to fall into the 'new low trap'. Wait until the trend is clear before taking action to avoid being caught.
Second phrase: Don't act recklessly during consolidation. Price fluctuations during consolidation are flatter than a windless lake; forcing entry will either trap you or the profits won't be enough to cover transaction fees. Be patient and wait for the price to break through the upper range of consolidation or fall below the lower range. Only when the trend is clear should you act, increasing your win rate.
Third phrase: Dare to find buying points on bearish candles, and think about selling points on bullish candles. Don't panic and flee at bearish candles or chase after bullish candles; this is a typical case of buying high and selling low, leading to losses 90% of the time. As long as the overall trend is not bad, bearish candles are actually 'discounted buying opportunities', while bullish candles should prompt you to consider 'whether to realize profits'. Monitor support and resistance levels and operate in the opposite direction to avoid most risks.
Fourth phrase: The speed of decline determines the rebound. Rebounds after sharp declines are often very strong, while recoveries after slow declines will be very gradual. Remember this rhythm: when making rebounds, know whether to wait for quick declines to catch the bottom or to observe during slow declines, to avoid missing the timing.
Fifth phrase: Pyramid-style position building. Never go all in at once! For example, if you plan to buy 1000 coins, first buy 200 at a relatively high price, then buy 300 when it drops by 5%, and finally buy the remaining 500 when it drops further. Buying more as the price drops can lower the average cost and avoid the passive behavior of 'buying more as the price rises and panicking when it corrects'.
Sixth phrase: After rises and falls, there must be consolidation. If the coin price rises or falls for several consecutive days, it will definitely enter a 'consolidation period'. Don't rush to enter fearing to miss out; during the consolidation phase, it's easy to get trapped. Wait for the consolidation to end and see which direction it goes—either continue to rise or turn to fall—only act when clear signals are seen, to be more stable.
How to plan funds, how to seize opportunities, how to control rhythm, I can slowly chat with you about it, saving you a few years of detours; sometimes it just takes these few practical words.
