I have been in the cryptocurrency market for seven years, going from a few thousand to making a living through trading. Later, I realized that whether one can make money is not about how many techniques one has learned, but rather if one can judge a true breakout. $WET
I generally only look at four points, and only combine them to take action.
First, look at the volume. A significant increase in volume after a long period of consolidation is valuable; the first time is mostly a test of the market, so don’t rush. After the market is washed out, the second increase in volume is the real opportunity.
Second, look at the closing price. It doesn’t matter how much the price fluctuates during the day; whether it can stand above the key level at the close determines whether it is a true breakout or a false move.
Third, look at the time. A market that hasn't had enough time to develop usually doesn't go far. At least, it should consolidate with decreasing volume for a few months, clean up the chips, and then a strong rise can occur.
Fourth, look at the space. Draw key resistance levels in advance and have an idea of how far it can go after a breakout.
Remember one thing: a breakout is not a signal; it is a whole set of conditions. Once you understand this, trading will become much easier, and you will avoid several years of detours.