Market sentiment is two-sided. As traders, we must not blindly follow others; we need to have the ability to make our own correct decisions.
Just because one person says the market will drop, and then you hear a couple more people saying the same, you cannot simply believe that the upcoming market will fall. Similarly, if they say it will rise, you cannot just assume the market will go up.
Talking costs nothing, but it can seriously affect your hard-earned money!
Analyzing market trends to make trading decisions is a threshold you cannot avoid in the cryptocurrency space. If you want to achieve good results through trading in this field, you must break through this barrier; you can't escape or avoid it.
No one can help you with this, unless you have a grudge against money and are irresponsible with your own funds.
Before entering the market, you need to filter for quality assets. This step has already stopped many people. After selecting the right assets, you need to formulate a trading strategy.
Establish a trading level that suits you, whether it's long-term, medium-term, or short-term. If you don't have time to monitor the market daily and cannot understand market trends, rushing into short-term trading is just giving money to the market, isn't it?
Once you have determined your trading level, you also need to adjust your mindset according to your situation, create a strict trading plan and strategy, and find precise buy and sell points through market analysis. You should effectively manage positions, allocate assets, set take-profit and stop-loss levels, and control risks, among other things.
Then, take good trading notes. After each trade, review your previous notes for in-depth analysis, reflect and summarize. Continue to refine and optimize the correct aspects while improving the areas where you made mistakes.