The rebound from the bottom of the market is a lure for long positions or a true return of the bull market? It's too early to say.

CN
1 year ago

I'm still waiting here, but you seem to have forgotten that you've been here before. Cherishing the blue sky and white clouds is because we have experienced hazy weather. Enjoying a one-sided market is because we have experienced a volatile market. If waiting in trading is a kind of happiness, then taking action after making a decision is a kind of fulfillment.

Hello everyone, I am trader Gege. Continuing from the previous article, it's been a long time since I last updated. I have been busy with internal guidance. Today is Monday, and the weekly market is closing. Let's briefly review the market. The monthly market is also approaching the closing point. What will next month's market look like?

First, let's review the previous train of thought. The previous article was updated on January 10th, just before the news of the BTC ETF landing. I provided my personal forecast, and the market basically met expectations. The 48,000 level also took a short position (I won't post the chart here, but it can be seen in some places). In the previous article, I mentioned that the general direction of the market after the landing would be oscillating, retracing, and adjusting for 1-3 months. Currently, it seems that the market is moving in this direction, and I still maintain this view. The 1-3 month timeframe is a prediction, and the specific duration still needs to be observed as we go along.

The BTC market bottomed out around 38,500 and rebounded, but is currently facing resistance around 43,000. There are still quite a few resistance levels above, so I don't think a significant uptrend will be easy to achieve. It's more likely to see a rebound to lure in more buyers, followed by a retracement, another rebound, and then a break below the previous low, causing continuous fear and agony of missing out. With the BTC halving less than 3 months away, it feels like a major bull run could happen at any time, so the market is concerned about missing out. I often say that the market will only move against the crowd consistently. I believe that the subsequent market will continue to oscillate, wash out weak hands, and repeatedly lure in more buyers.

Regarding operations, I believe that position management is very important, which is something I have been emphasizing internally. Only with a reasonable position plan can we steadily achieve stable returns. Currently, while making money, we should also focus on risk control and accumulate ammunition, so that we can survive until the bull market arrives, which will provide even greater opportunities. Every trade we make needs to be based on something, whether it's market sentiment, fundamentals, or technical analysis. Regardless of what it's based on, these are all auxiliary factors. Even if the accuracy is high, we must still have a respectful attitude towards the market. By combining reasonable position planning with flexible on-the-spot operations, we can face this unpredictable market and gain profits.

After washing out the futures contracts, we also need to wash out the indecisive spot players. So, 38,500 may not be the end point of this round of washing out. For every subsequent rebound, whether it's 43,000, 44,000, or 45,000, we should be cautious and guard against getting carried away. Today's update ends here. There are no trend suggestions or short-term suggestions. See you next time. For more real-time suggestions on BTC, please find Gege. Suggestions are for reference only. Enter the market with good risk control. Determine profit and stop-loss levels on your own. Specific strategies should be consulted on the spot.

The road we have traveled has been long, we have met many people, and we have experienced many things. Inadvertently, I discovered that the most beautiful scenery in life is the calmness and composure of the heart, the wisdom and clarity of the mind. Live a strong life, face it calmly, experience it bravely, taste the ups and downs, and forget about the people and things that have passed. Learn to let go of what cannot be obtained, and learn to conceal what cannot be touched. Get rid of sadness and loneliness, break free from helplessness and indifference, no longer fear the unknown, and no longer need to be blind.

Many individual investors hesitate to enter the trading arena simply because they lack a guide. Often, a word of advice from an experienced person can solve the problems you have been pondering. Daily real-time market analysis of BTC, ETH, BCH, LTC, EOS, XRP, DOT, and other currencies is promptly shared in the social circle, and there is also guidance in the experience exchange group. There is 18-hour online market analysis and operation guidance every day. Feel free to scan the code to add and get real-time guidance. Note! The contact information below does not belong to me!

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