My turning point in life started from the most embarrassing moment.

Eight years ago, I was curled up in a 6-square-meter rental in Shenzhen's urban village, and the most dreaded thing each month was seeing the rent reminder flash on my phone. Back then, even a 15-yuan fast food meal required careful calculation, and my account balance was always in the low six figures. And now? The account has multiplied by over a thousand times, and I hold two property titles in my hands.

Many people ask me if this is good luck or if I stumbled upon some insider information to get rich overnight. Honestly, neither. Over these eight years, I’ve been repeatedly wrestling in the crypto world with a principal of 190,000 yuan, constantly learning and summarizing. Every penny of growth has been built with blood, tears, and tuition fees.

**Common Pitfall for Beginners: Excited when prices rise, panicked when they fall**

When I first entered the crypto space, like most newbies, I operated purely on emotion. If a certain altcoin rose 20%, I would follow and buy in; when it started to decline gradually, I’d panic and sell everything. Guess what? I sold out just a week before it surged 50% in a main rally, missing out perfectly.

At that time, I couldn’t tell the difference between a market maker’s shakeout and a true top signal. After losing countless lessons, I finally understood a simple logic: rapid rise followed by slow decline is usually the market maker collecting chips; but a volume surge followed by a sudden crash is the real signal to run.

**Practical methods to distinguish shakeouts from tops**

After years of observation and accumulation, I’ve summarized a relatively reliable method. Although not 100% accurate, it can at least help you avoid most chasing highs and getting caught or failing to sell at the top.

The most typical feature of the shakeout phase is: during a price correction, the coin generally can’t hold the 30-day moving average, but even if it temporarily dips below, it can quickly bounce back. Trading volume will gradually shrink, and when it rebounds, it will do so gently with some volume.

In contrast, a top reversal is completely different. The price will break below familiar support levels with high volume, and the rebound will seem weak. Often, during a decline, volume is large, but during a rebound, it shrinks sharply. Once confirmed, this is basically a signal to clear your position.

**Mindset is the biggest enemy**

Looking back, technical analysis can be learned, but what really causes losses is mindset. Watching your holdings hit new highs every day, greed will erode your rationality. Seeing your account shrink, fear will make you run at the worst times to buy the dip.

Over these eight years, I’ve seen too many smart people, with better technical skills than mine, stumble in the psychological game. I’ve made it this far not because I’m smarter, but because I admit defeat early and execute stop-losses ruthlessly.

Crypto money is hard to earn, but it’s not as mysterious as you think. Find your own methodology, stick to discipline strictly, and ten years later, looking back, today’s persistence will be tomorrow’s harvest.