Technical analysis by go8686 about Symbol BTC on 3/12/2024

Based on my trading experience in the cryptocurrency market, the primary reason people lose money in a bull market, is using leverage.Let's consider an example where an individual buys Bitcoin in the spot market at $25,000 and holds it until it reaches $73,000. While many people might sell it at $30,000, buy back at $35,000, then sell again at $37,000, and so on, the ideal return on investment (ROI) is 292%. However, if he suddenly becomes interested in futures trading and starts with 5x leverage, he might initially catch a 5% increase, yielding a 25% profit. But the following day, he incurs a 10% loss in the morning and decides to increase his leverage to 10x to try to recover his losses more quickly. Unfortunately, he then loses 15%. In a desperate attempt to recoup all losses within the same day, he increases his leverage to 100x. Within an hour, a 1% price drop triggers the liquidation of his long position, erasing all his profits in a single day.So, friends, remember this: never use leverage—not even 2x, as it might tempt you to escalate to 125x the following week. Stick to the spot market.