In these days of struggling in the crypto world, I've summarized some insights to share with the new frens who just entered the industry:

1. Hot coins are tempting, and when altcoins profit to a certain extent, they must be exchanged. Wanting to hold from beginning to end usually ends up being in vain. The reasoning is simple: altcoins can't keep rising; after trading, they must be exchanged, otherwise they fall back to the original point, and all previous efforts are wasted. The examples are FIL and LUNA from that year.
2. After a high-level consolidation, if it surges again, seize the opportunity to prepare for a sell; if it consolidates at a low level and makes a new low, it is likely a good opportunity. If the coin price suddenly hits a new high after consolidating at a high level, be cautious of the main force trying to lure in buyers, and don't hesitate to reduce your position or exit; if it makes a new low after consolidating at a low level and quickly rebounds, it is mostly the main force's last wash, so at this time, you need to stay steady and not make rash moves.
3. When the market environment is poor, the coin price may rise against the trend while consolidating, and a small rise against the trend may lead to a large increase; when the market environment is good, the coin price may slightly drop against the trend while consolidating, and a small drop against the trend may lead to a large decrease.
4. Only add to your position when making a profit, and don't average down when losing - this may be different from what many people think. You should add to your position when the coin price breaks through previous highs, instead of averaging down while it keeps dropping; otherwise, the more you average down, the more you lose, and in the end, you won't be able to move. You must cut losses and let profits run.
5. As long as you identify the bottom price, the rise is often in the rhythm of "advance two, retreat one." At this point, don't doubt it; there is usually a big surprise ahead, especially when the trend is rising, often pulling up while washing out positions, so don't easily get off the train.
6. First-class players look at sectors, second-class players only look at single coins, third-class players look at indicators, and the lowest-class players purely gamble. This means that before buying coins, one should first look at the sectors, focus on hot sectors with high popularity and high win rates; then look at specific tokens. Those who enter the market only by looking at indicators are beginners, and those who buy blindly without looking at anything are gamblers.
7. Indicators follow volume and price changes, so volume and price are the source of indicators. Relying solely on indicators without observing volume and price will only lead to a frowning face in crypto trading. Indicators are calculated based on coin price and trading volume; true technical analysis requires looking at volume and price—when the price rises, it needs a substantial amount of funds to drive it.
8. In an uptrend, look for support; in a downtrend, look for resistance. When the coin price is in an uptrend, operating based on the support line has a high success rate, and a pullback presents a buying opportunity; in a downtrend, focusing on the resistance line provides more trading opportunities, allowing for short positions or serving as an exit signal. #币圈