Chen Bin's Point of View: Bitcoin is still above 37500, and I'm looking to short it for a big pullback to 31000.
The same spinning car, the wheels don't know how far they've gone, but the gyroscope is still in place. If the ship doesn't join the ocean for safety, it loses its purpose. I'm not concerned about whether you set a stop loss, but whether you are willing to accept it. I care more about how much trust you have in the medium-term, rather than whether you are opening a position.
On Wednesday, Bitcoin surged in the Asian and European sessions, causing a stir in the market. In fact, especially since November 9th when Bitcoin broke through 38000, those who were bullish or calling for a pullback were shouting that it's the beginning of a bull market, and those calling for a quick return of the bull market emerged one after another. The only one who initiated a medium-term short position, Chen Bin, suddenly felt a bit lonely. The recent strong consolidation at high levels has indeed made the bullish sentiment almost crazy. However, after staying above 37000 for the past two weeks, it has been difficult to move further. I have been reminding everyone not to chase long positions at high levels in recent days. When most people are bullish, we should be cautious and not follow the crowd. Our short positions opened several times between 37500 and 37900 have not wavered at all. Although we did not take profits from the rebound, isn't it just as good to profit from the several declines from above 37500? Many people come to criticize when they have free time, thinking that going long now is following the trend, and going short is causing trouble!
However, I deeply understand that only 20% of people are always right in the market. When everyone is bullish, it is inherently dangerous. Holding a good short position and making the longs sing "conquest" on their knees, even if some people think my medium-term short position will be "uneasy," it only reached the expected level at most, without any suspense or hesitation. Now, the current rebound is not a concern. This kind of recent end-of-bull-market rebound and chasing long positions at high levels is very dangerous. Don't miss the opportunity to continue to speculate on this rebound or try to break through new highs after the sharp decline!
In the past, in the first ten months of this year, if you missed the opportunity to go long at low levels, I have no sympathy at all. If you ran away, I have no pity! Think about how many people believed in and followed me when I went long at positions such as 16500, 19800, 21500, and 26000? Now I have started to lay out short positions. No matter how it rebounds here, because I am holding on, I still hold. When you know what you want, you won't lose yourself because of others' words. When a person loses faith in themselves, even God can't save them. A few days ago, I also first published "Chen Bin's Point of View: 11.20 Easy to Attack but Difficult to Defend, Don't Chase the Rise, Firmly Short Bitcoin and Ethereum!" "Chen Bin's Point of View: 11.21 Bitcoin 38000 is Difficult to Surpass, Firmly Bearish for a Big Pullback Below This Level!" "Chen Bin's Point of View: 11.23 Bitcoin Continues to Pull Back in the Medium Term with the Help of 38000!" Simple and clear words have already indicated that the current focus for Bitcoin is on shorting the rebound. Those with affinity for Buddhism, I am leading the way!
Before, you complained that there were no opportunities, no good entry points, and you didn't capture decent profits. This time, the market has given it to you, and I have also reminded you. The rest is up to your execution. A person without a goal will eventually achieve someone else's goal. A person without a plan will eventually fulfill someone else's plan! Let's attack here together. For those with long positions, cash in quickly, don't let the opportunity slip away. For those with short positions, listen to my command: open positions and go short!
So, the only thing you need to do now is to short directly at the 37400-37500 level without any hesitation. Even if it turns out to be a complete failure, I am willing to accompany you in opening positions. Once it adjusts here, I dare say that the remaining days at the end of the year will belong to the bears, and the bulls can only surrender! If you miss it, you will have to chase after it all the way, with a face full of ash! If you want to scold me now, then please wait until the longs are wiped out at 37500 before speaking. Otherwise, please shut up, don't speak, and don't use your weak and pitiful mentality to criticize me. You are not qualified at all. I haven't even looked at those people straight in the eye! What's the difference between talking big and secretly cursing someone and secretly urinating on the highway? Remember, I continued to open short positions at 37500 yesterday and will continue to do so today. It's up to you whether you want to do it or not!
Regret is the most time-wasting thing. If you want someone to help you, please extend your hand. If you don't even extend your hand, how can someone help you out of trouble? Many people only chase after a long position after the rise, and only chase after a short position after the fall, and then find that they missed the medium-term. When it comes down, they ask if they should go short. Don't you think it's a bit late? Don't tell me there was no opportunity at 37500-37600, don't tell me there was a power outage at the time, and don't say there were family matters. You missed all of this while walking the streets and basking in the moon. Opportunities are left to those who are prepared. Now firmly hold on to the short position, when you are profitable, learn to be greedy, make sure to hold on, and live up to my expectations!
A person who is discouraged at the first setback will always be a failure. Don't become a case of success in failure! Too many people are waiting for a pullback to go long today, and most people in the market are still bullish in various ways! If the direction is right, there is no fear of going too far. If you don't take a step, you won't reach the mountaintop. If you don't open a position, what do you have and expect now? Improbable things may happen today, and impossible things may happen tomorrow. Unless a person has confidence in themselves, they cannot bring confidence to others. I've said it all, but it's useless if you don't act. I've laid my heart bare, but it's useless if you don't believe! Footprints in the desert quickly disappear, but my expectations of you have never diminished!
Bitcoin, continue to hold the short position between 37500 and 37700, and continue to hold the position entered above 37500 today. Tonight, continue to add to the short position after the rebound, and add to the short position after the breakdown. Remember, we are not considering any rebounds here now, but only going short all the way, waiting for a major adjustment. This is just the beginning, and the crazy bears are about to come. Don't rush to get off the bus, and don't chase long positions now! Those who have experienced the market in the past year or two should know what the current rebound is! A trap! Come on, take up your AK47 and shoot all targets. It's not a dream to fall below 31000 after breaking through. The dream is just beginning, don't wake up easily! I have said that I have opened positions, whether you believe it or not, it's up to you. If you chose to follow me before, then follow well and don't let yourself regret…
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