Cryptocurrency News
December 8th Hot Topics:
- Inscription #8 sets the highest sales record in Ordinals, with a trading price of 10.4 BTC.
- USDT market value has grown by 35% since the beginning of the year, increasing by 23.7 billion USD.
- Bitcoin options open interest reaches a historical high of 20.7 billion USD.
- Santiment: FUD increase may push BTC to 50,000 USD.
- Musk comments on Block's self-hosted wallet: "If it's not your key, it's not your wallet."
Trading Insights
What constitutes a correct trading view? Trading is not deterministic; it is a discipline of probability. How can one win in this game of probability?
First, increase one's awareness of trading, as everyone has biases. These biases often stem from insufficient understanding and lack of clarity about the present, leading to emotional judgments. Your level of awareness often determines your cognitive level. Continuously improving cognitive levels is crucial because you will never earn money beyond your cognitive understanding. Even if you make money by luck, it will eventually be returned based on your abilities.
Second, with increased awareness, one can establish their own logical thinking. One should have comprehensive abilities to observe, analyze, judge, and reason about the market. Before planning a trade, one should make a trading plan, assess the risk level of the order, determine if the entry aligns with the system's basis, set reasonable stop-loss, and be prepared to execute the trading plan regardless of the trade's duration. Can one stick to the plan in small timeframes, avoid greed when exiting, hold orders in larger timeframes, and withstand the inner turmoil when profits retract? Can one strictly execute their trading plan?
Third, summarizing, improving self-awareness, establishing logical thinking, making suitable trading plans, and strictly executing those plans. Friendly reminder: Regardless of when and where, risk control of the principal is always paramount.
Fourth, some friends believe that trading logic and psychology have no relation to trading. I won't make any judgments, but I'll say this: whether a knife can harm someone does not depend on the knife, but on the person wielding it.
Search for the public account: Big White Coin
BTC
Analysis
Bitcoin weakened overall yesterday, following the expected retracement trend, falling to support at 42,868 and rebounding, with resistance at 43,882. Congratulations to friends who followed yesterday's strategy and profited 800 points from long positions. Currently, the coin price is running near 43,460. The 4-hour candlestick chart broke below the MA14, with the MA7 turning downwards to form a death cross. The MACD is running bearishly with a dead cross. Although biased towards bearish, the retracement strength is not significant. Short-term rebounds are expected, but the probability of breaking and stabilizing above is low. There is likely a need for a retracement, but it is not expected to be significant. The top has not yet appeared, but there is not much room left, belonging to the tail stage. Long positions need to be cautious. Intraday trends are expected to continue to be volatile. The strategy suggests treating high positions with caution and low positions with priority. Resistance above is at 44,000-44,500, and support below is at 42,800-42,200.
ETH
Analysis
Ethereum retraced to the 2,222 support line yesterday without breaking the previous low, then rebounded and broke through to a new high at 2,391 before falling back. Congratulations to friends who followed yesterday's strategy and profited 100 points from long positions. Currently, the coin price is running near 2,370. The 4-hour candlestick chart shows a gradual upward trend after the rise, currently in a pressure area. There is a short-term retracement demand. The MA7 moving average is rising, and the MACD is running bullishly with a golden cross. Overall, the bulls are relatively strong. The daily candlestick chart shows nine consecutive rises, indicating an overbought state for Ethereum, while other currencies have not moved. It is not advisable to chase the rise, as there is a possibility of a downturn at any time. The overall trend is still bullish. The strategy suggests focusing on long positions after a retracement, with high positions as a secondary consideration. Resistance above is at 2,400-2,460, and support below is at 2,350-2,320.
Disclaimer: The above content is personal opinion and is for reference only. It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there are any areas that are not understood, feel free to inquire.
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