#数字货币市场洞察 In the winter of 2017, I was in a six-square-meter basement in Beijing, no heating, survived on an electric blanket.

At that time, I only had 126 yuan left in my bank account. During the day, I waited tables in a restaurant; at night, I watched the crypto charts until dawn.

Eight years have passed, and now there’s over 22 million lying in my Lujiazui account. It wasn’t luck—it was tuition paid in blood.

**Lesson 1: After a sharp rally comes the harvest**

In the 2017 bull market, some altcoin surged 320% in ten days. I went all-in with 80,000 yuan. On the third day, it reversed and crashed 18%. In a week, 60,000 was gone. Only later did I understand: if a coin spikes over 30% in a short time, then goes sideways for three to five days, and then plunges 15% on volume—that’s the whales distributing. Now, whenever I see this pattern, I don’t hesitate for a second.

**Lesson 2: High-level consolidation means distribution**

In 2019, I held mainstream coins, and after two months of sideways movement, I even added leverage. Got cut in half. If consolidation lasts over 20 days, daily turnover is below 2%, and the price deviates more than 20% from the 20-day moving average—if all three signals appear, it’s time to run. In my current system, whenever this pattern shows up, I cut my position immediately, no emotion.

**Lesson 3: Look at volume, not price, to catch the bottom**

On the 3/12 crash of 2020, I tried to bottom-pick $LINK but got trapped mid-way down. What does a real bottom look like? After volume shrinks and the price consolidates, you see three straight days of steady volume with small green candles. Last year, BTC showed that signal at 25,000—I went all in, exited at 42,000, and made 5.8 million on that trade.

**Lesson 4: Position management is life or death**

You have to survive to make a comeback. Now I only go half position, never touch leverage. Last year with $PEPE, I only entered after volume increased by five times, and as soon as the trend broke, I took profit and left. Ended up with a 12x gain and dodged the subsequent crash.

This market isn’t about who’s the smartest, but who can survive the longest. The rules of the market may change, but human greed never does. Stick to your bottom line, and you’ll go far.