Bitcoin hits 44500, BAKE in the BN series, DODO takes off, any chance for BNX? Expected contract for RPL on the rise, ARB and others show long shadows.

CN
1 year ago

Once a trend is formed, any technical indicators are not very useful. It's better to trade with the trend. Yesterday, I tried a small short at 42000 and stopped at 42450. I opened a small position mainly to see if the potential resistance level would produce a pullback. It did pull back, reaching only around 41100 at its lowest, and the second pullback only went to around 41400. It really went strong. Fortunately, I adhered to the principle of not shorting when bearish, so my position was not large, and I used a small stop-loss operation. It proved that when the trend comes, it's better not to go against it. The principle of only going long and not short is very suitable for the current market. Yesterday, the short positions in the market were directly cleared of over a billion US dollars, with a total of 1.63 billion in 24 hours, and the market accounted for 1.12 billion. It seems that many large holders shorted and became the fuel for the current round of market rise. The distance from the monthly target set at the beginning of the month, 45000 to 48000, is just a step away. It really came too fast. This is the taste of a bull market! It often makes you regret at a speed that most people cannot imagine. If you didn't buy the market in time! That's why it's said that those who make big money are all long-term players. It's easy for short-term players to sell chips in a trending market! Once again, it confirms the secret of making money in a bull market by ignoring short-term fluctuations in medium and long-term positions!

The strong rise of the market share of the market yesterday once again reached a new high, indicating that most of the altcoins did not outperform the market, only a few projects in the market ecosystem such as BADGER and ORDI showed relatively strong trends, with a relatively large increase!

Next, I have to mention BAKE, which once again saw a doubling in a short period of time. I remember it also had a one-day doubling trend before, so projects with a history of violent rises like this are controlled by strong institutions. It depends on when the institutions distribute benefits. It's not cost-effective to chase after a rise. Another project that has performed well is DODO, which is currently doing better than BAKE in terms of increase. If you really want to chase after it, you can lay low for a wave of DODO.

Of course, if you don't want to chase after a high, then maybe you can just lay low for a wave of BNX. Judging from yesterday's trading volume, there is an obvious trend of expansion, perhaps the main force is accumulating. This project, since its launch, as a chain game track, is also considered BN's own project and has not been hyped yet. With the arrival of the bull market, hype is inevitable. It's just a matter of when the institutions will produce a big bullish candle! Recently, the hype around the MAGIC ecosystem of ARB has been good, and AXS, as an old leading project, also shows signs of emerging recently. Therefore, as part of the BN series, BNX can indeed lay low with a small position, and a big bullish candle may be arranged in the near future!

Another project worth mentioning is RPL, one of the three musketeers of the LSD track (LDO, SSV, RPL). Surprisingly, major platforms have not yet launched contracts for this project. As one of the tracks that benefits from the Cancun upgrade narrative, when the hype around the Cancun upgrade comes, the probability of RPL launching contracts is very high. So, you can lay low in advance. Currently, compared to SSV and LDO, RPL has not been hyped much! It is currently hovering near the 200-day moving average, so it's a good time to lay low and wait for the contract to be launched before selling!

With the market reaching above 44000, the volatility will be even more intense. Therefore, when operating, you can take out some positions for grid or short-term trading. The greater the volatility, the more lucrative the profits from short-term operations, all of which are to lower the holding cost of medium and long-term positions! Remember not to chase after a rise and kill the fall. If you are not ready to enter the market, do not place an order. Think about your entry point, whether it's short-term or medium and long-term! Be sure to set a stop-loss for contracts, and focus on going long on dips!

In the crypto industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle, where everyone can huddle together and maintain insight. If you are alone and find that there is no one around, it is actually very difficult to persist in this industry. If you want to huddle together or have any doubts, feel free to join us - Gongzonghao: Guanguanshuibi VX: 3379276514

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