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When it comes to crypto trading, the first thing to watch is still BTC's temperament. BTC is like the weather vane of the entire market; when it's doing well, other coins have the chance to follow suit and rise; if it is sluggish, even the best altcoins will find it hard to stand out independently.
Specifically, for individual altcoin operations, my habit is to first look at the long-term chart. The long-term chart helps you identify key support and resistance levels, which are often good points for positioning or reducing holdings. Short-term fluctuations can be very deceptive, but the trend on the long-term chart is hard to fake.
Many people like to focus on minute charts and trade frequently, only to get slapped in the face repeatedly. Instead of doing that, it's better to find a trading cycle that suits you—perhaps the 4-hour chart or the daily chart—and then root yourself at that level, waiting for high-probability opportunities to appear. Doing so will significantly improve your success rate in trades.
Day trading for retail investors on the minute chart is really time to quit, every time gets manipulated
The daily chart is the real way, everything else is noise
BTC won't die, we still have hope
There's nothing wrong with looking at the big cycle, but unfortunately most people can't stick to it
Those who truly make money never trade frequently, this is an ironclad rule
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The minute chart is indeed a trap; I've fallen for it too. Now sticking to the daily chart feels much more comfortable.
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Getting the key support and resistance levels right means half the battle is won.
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Those who trade frequently are just trying to get rich overnight, but end up repeatedly being educated by the market.
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Finding your own trading rhythm is truly more important than anything else; there's no need to follow the crowd.
The big cycle indeed doesn't lie. I also started from the daily chart and am much more clear-headed than those leeks who focus on minute charts.
That minute chart approach is truly a painful lesson; frequent trading is just giving money to the exchange.
Wait, the larger cycle is indeed reliable, but I find that many people still can't help but watch the minute chart, kind of like a gambler's mentality.
The 4-hour chart is my rhythm, reacting faster than the daily chart and generating fewer false signals than the minute chart.