On every trading day, hating oneself, you remember the mistakes; hating the market, you only complain. A small detail can lead to huge losses, and the ultimate trigger is oneself, not the market. Adjusting one's own faults can reduce the occurrence of repetitive incidents.
Every time I stop updating, I receive many reminders from friends, and some even say I fish for three days and dry my nets for two. Here I declare that I am not a full-time trader and have not joined any community, so my posts are updated at random. Also, I have been resting these past two days due to drinking too much. If you have any trading-related information you want to know, you can message me.
The price of Bitcoin has been running within a range these past two days. I have been waiting for a new high point, but it has not been achieved. The day before yesterday, I also took a short position and hastily exited before drinking too much. This morning, I watched the market slowly decline, feeling that the opportunity I have been waiting for is coming. Although the trend is erratic, movement indicates more opportunities.
From a technical perspective, the daily chart shows a large bearish candle touching the MA30 line and rebounding. From historical market trends, every time an upward trend falls and touches the MA30 for the first time, there is a rebound, but ultimately it is not sustained. In addition, the consolidation here has lasted long enough, and the bulls are starting to weaken, treading on thin ice. I also emphasized over the weekend that since there has been no breakthrough of the high point here, and the daily chart has been diverging, caution should be exercised in being bullish. Furthermore, if the weekly chart closes at 8 points, there is still a lack of a bearish candle.
Strategy: Short at the current price of 36,350, stop loss at 37,100, take profit at 35,500-35,200.
Personal advice, for reference only.
By Jiangshan, WeChat public account: BTC Big Pancake Analysis. You can also scan the QR code below to follow me.
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