If the direction is wrong, no matter how long your hand reaches, you cannot touch the right thing. The same goes for the currency circle. If the trend is wrong, it will only get deeper. Instead of going against the market, it is better to embrace the market. After all, the original intention of trading is nothing more than making money, or it is a way of entertainment for us. If you keep falling and getting frustrated, there will be no joy in trading.
The day before yesterday, I published an article expressing pessimism about this being a bull market. Some friends privately expressed doubts, and of course, there were wise people who agreed. I am also very pleased that many friends bought Bitcoin at around 20,000. In any case, considering the current market environment, I am not optimistic about the bull market, not even next year to break through the position of 69,000. In my opinion, the current market is transparent, just like the "certain oil" back then. The high point of a bull market hot spot has not been broken in the following years. So, considering the characteristics of Bitcoin, do not overly optimistic about the violent bull market or bear market. Just seize the profit brought by a trend.
Looking back at the market trend, I mentioned the weekly golden cross not closing negative the day before yesterday, coupled with the daily divergence, there is room for a pullback. Last night, the price broke below the low to around $34,500, and the daily chart formed a continuous negative pattern. However, the prices at the higher level are running above the moving average, so the overall trend is still bullish. It is just a pullback to a vacuum area, making people dare not get on the bus. In fact, it is completely possible to get on the bus here. Although the cost-effectiveness is not high, if you did not receive a long position at 34,500 in the early morning, you can control the position at the current level.
Strategy: Long at the current price of 35,500, stop loss at 34,700, take profit at 36,200-36,500-37,000
Personal advice, for reference only.
Author: Jiangshan Public Account: BTC Analysis and Suggestions You can also scan the QR code below to follow me
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