Investing in the cryptocurrency circle, opportunities and risks coexist, and rational investment is the key.

Why is it not recommended to buy at the 4-hour support point?

In fact, the 4-hour chart is a short-term indicator with limited reliability. Because the dealer may influence the price through short-term operations, especially in the case of high or low market value, the dealer may deliberately create a strong support illusion on the 4-hour or daily chart to induce retail investors.

This practice often leads to retail investors having an illusion that the price will not fall below a certain support point, so they buy in. However, this may be exactly what the dealer wants. Once a large number of retail investors enter the market, the dealer will have the opportunity to sell at a high level and leave with a profit.

In order to avoid falling into such traps, when deciding to buy cryptocurrencies, you should pay more attention to long-term charts such as daily charts, weekly candlestick charts, and monthly candlestick charts. These charts can more truly reflect the long-term trend of the currency and market sentiment, and help make more informed decisions.

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