Cryptocurrency News
August 4th Highlights:
- Bloomberg Analyst: Probability of Ethereum Futures ETF Approval Reaches 95%
- 3 hours ago, Curve founder sold over 34 million CRV to 4 investors/institutions
- US SEC Chairman: Current regulatory system lacks the ability to address AI risks
- Traders sell large amounts of USDT on Curve and Uniswap, causing USDT to drop below $1
- Semafor: Musk's X Plan to build an in-app stock trading platform
Trading Insights
- About Entry
Entry is a trial-and-error process, and no entry can guarantee 100% of what will happen next. Entry is not the entirety of trading; it is just the beginning.
Seeking the perfect entry is the biggest trap in trading. Only by overcoming this can one truly begin to think about what trading is. Only then can one truly engage in the subsequent stages.
- About Stop Loss
Stop loss must be decisive and resolute, this is the entry-level lesson of trading. Risky trading requires risk control. Being able to actively cut losses puts the control of the account's fate in one's own hands. This provides the opportunity to continue in uncertain markets.
- About Take Profit
When taking profit, one must try to release the profit side as much as possible. If one cannot let go of the profit side and cannot withstand the retracement, they will only make small profits, never catch a trend, and may not even recoup the cost of trial and error.
In trading, one must actively control losses, and whether one can make a profit depends on the uncertain trend. Therefore, in trading, one must actively cut losses and let profits run. Only in this way can one have the opportunity to accumulate advantages and achieve positive returns.
- About Trend
The market is uncertain, so the duration and amplitude of oscillation and trend cannot be predicted.
However, the mindset of holding onto losses and taking profits at the first sign of improvement is difficult to implement for risk control, while the mindset of cutting losses and letting profits run can. Therefore, in trading, a trend-oriented approach is a feasible hope for achieving profits.
Search for the public account: Big White Coin
BTC
Analysis
Bitcoin experienced a second retest of the previous low and rebounded from the oscillation, with limited volatility. It reached a high of 29424 in the evening but was resisted and fell back. Congratulations to friends who followed yesterday's strategy and made a small profit from short positions. Currently, the price is running near 29178. As shown in the four-hour chart, although there was a rebound, it did not effectively break through the trend line. The candlestick turned negative again, and the MACD is bearish but with insufficient volume. In the short term, there is a high probability of narrow range oscillation. The daily candlestick formed a small doji, indicating weak rebound strength and significant resistance above. The overall trend is still bearish, and there is a demand to retest the support at 28800 during the day. If broken, attention will be on 28500 for stabilization and a potential rebound. The suggested strategy is to focus on shorting at high levels and buying at low levels, with resistance at 29400-29700 and support at 28800-28500.
ETH
Analysis
Ethereum had limited volatility during the day and was in a narrow range oscillation. In the early morning, it rebounded slightly to 1859 but was resisted and fell back to the 1828 level. Congratulations to friends who followed yesterday's strategy and made a profit of 30 points from short positions. Currently, the price is running near 1830. In the four-hour chart, the short-term trend shows gradually decreasing rebound highs and a downward oscillation. Although biased towards bearish, the MACD lacks volume, and the MA trend is chaotic, indicating no clear direction in the short term. The daily candlesticks continued to be negative, showing strong resistance above and weak rebound strength. If it can effectively break below 1830 and close below, there is an opportunity for a continued bearish trend, with the next focus around 1786. The key focus for the day is the release of non-farm payroll data, which may overshadow technical analysis. The suggested strategy is to focus on shorting at high levels and buying at low levels, with resistance at 1850-1880 and support at 1810-1786.
Disclaimer: The above content is for reference only and does not constitute specific operational advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there are any areas that are not understood, feel free to consult.
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