The landscape: The Bitcoin bears have scored another victory, and breaking through the 40,000 mark seems imminent.

CN
江山丶
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1 year ago

Trapped in trading for the sake of trading, and for the sake of making trades, you must have confused the goal of entering the market. Making money does not depend on the speed of trading, nor on frequent operations. It actually requires waiting for opportunities.

Yesterday, I posted a bearish strategy. Unfortunately, the entry point for shorting was too high. But for a die-hard bear, going short is definitely the way to go. Don't ask me why I'm bearish instead of bullish when it looks good to go short. There's no reason. I just don't want to go long, I only want to go in one direction, and I have a very indifferent view of the market. Also, I haven't fully entered my personal short position.

Last night, after drinking a catty of old rice wine, taking advantage of the tipsiness, I directly gave a bearish signal in my circle of friends. I also said that missing the opportunity to short at 44, 43 would definitely have a higher risk-reward ratio. Personally, I continued to add to my position and pulled the average price. I didn't expect to see it drop directly before going to bed. I have already reduced my position and am ready to go to sleep.

The market is still the same. It will definitely adjust around the four thousand mark in the next two weeks. As long as it is not running above 43-44 for a long time, the bulls will have a hard time. As for whether it will go below four thousand later, it will depend on the market. Personally, I am looking forward to playing below.

In terms of the trend, if it can be confirmed that 43,500 is the high point of this rebound, it will definitely go down later, and the position to go down is the same as mentioned yesterday. Also, as mentioned earlier this week, with the weekly chart closing in the negative, close to the weekly opening point, boldly go short. The brave will survive, the timid will starve. In this kind of market, just don't cut yourself.

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Strategy: Continue to short at the current price of 42,500-42,600, with a lighter position. If it goes up, then add to the position. This week will definitely not result in losses. The take-profit position is the same as yesterday's recommendation.

Personal advice, for reference only. Going to sleep now.

Author/Jiangshan WeChat Official Account: BTC Analysis and Suggestions You can also scan the QR code below to follow me.

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