Ten years to forge a sword, there are reasons for the rise and fall; Bulls and bears do not linger in battle, securing profits is the key to safety.

Hello everyone, I am Tommy, a cryptoeconomist, and a trader who has been rooted in the currency circle for 6 years, focusing on Ethereum (ETH). First, let me talk about the three things I don't do in trading: don't trade when tired, sleepy, or exhausted; don't trade when in a bad mood; don't trade when unable to understand the market trends. (In a bad state, one cannot perform at a normal level, leading to significant errors in market judgment.)

Follow K-line Tommy's official account: Opportunities are created in different time periods every day, there is no need to rush, the original intention has never changed. While creating profits, focus on risk control professionally, making investments valuable, walking the long term, and not letting down the encounters and trust in the past. Real-time guidance is available 24 hours a day. If you have any questions, you can leave a message. All strategy ideas are open and free, the only designated official account to follow. Do not estimate the market with your own financial resources, and do not let the gains or losses affect your determination! - Tommy

March 6, 2024, a historic moment:

BTC broke through the historical high point and reached 69333. The historical high point record lasted less than 1 minute, followed by a sharp decline, with Bitcoin quickly plummeting. The lowest point was 58900, reaching 10433 in a short time, resulting in a large number of liquidations in the market within a short period, with the highest one being 9 million USD. The 24-hour liquidation amount reached 2.04 billion USD, with Binance accounting for 43.1%, OKEx 36.7%, and HTX 8.27%.

At 9 p.m., Binance issued an announcement to perform wallet maintenance, transferring a large amount of BTC to a new address.

A week ago, it was predicted that the big cake would be bought crazily within a month, aiming for the historical high point of 69000. From the first round of decline on February 29, it can be seen that due to events such as Luna FTX in 2022, trapped positions would frantically escape and sell off. The selling pressure of this round of the big cake is completely from the historical high point in January 2021, where old players were trapped and there was a run on selling. From the announcement issued by Binance at 9 p.m., Tommy believes that it is a preemptive measure to prevent a run on selling at the historical high point. Therefore, regardless of the recommendations given to everyone earlier for AR, FIL, OP, BCH, and BSV, as a retail investor, it is impossible to successfully sell at the peak every time. Let's not be the two lucky ones in the 2-8 law.

Operational suggestions: For spot trading, it is recommended to start reducing positions at low levels, especially for altcoins. Altcoins always experience a double-digit decline in a big market, and even after a bull market, they will become zombie coins. For mainstream holdings such as BTC and ETH, it is also advisable to reduce positions and cash out a portion in a timely manner.

Contract trading suggestions: For short-term trading, it is recommended to short at high levels. Short at 3520-3510, stop loss at 3540, take profit at 3430. If you can buy at a low of 3360, you can go long. Stop loss at 3320, and look for a profit at 3490.

For more analysis of related currencies, please follow the official account for details. ↓

Mainly targeting spot trading, contracts, BTC/ETH/ETC

Expertise: K-line trading

Original trading volume battle tactics.

Short-term band high and low, medium and long-term trend trading, extreme retracement on the daily chart, top prediction on the weekly K-line, head prediction on the monthly chart

QR code for the official account (K-line Tommy's Life)

Friendly reminder: The WeChat official account at the end of the article is created by the author himself!

Please be cautious in distinguishing between true and false, thank you for reading!

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