To survive in the cryptocurrency world, one must first respect the market—trends are your friends, and going against the trend will ultimately lead to losses. Controlling risk is an eternal rule: never go all-in, remember that a 50% loss requires a doubling to break even, and leverage is a double-edged sword. Overcoming human weaknesses is crucial: FOMO can lead you to buy at high prices, emotional attachment to projects can cause you to miss stop-loss opportunities, while patiently waiting is the true holy grail of trading. Bitcoin has experienced a strong surge, with a spike upwards, breaking through new highs, reaching around 121,800. This powerful rally also signifies the true return of the bull market. Unfortunately, the short positions we set up in the morning were stopped out; mistakes happen, and there’s nothing more to say—having a stop-loss is more important than taking profits. There are no invincible warriors in the cryptocurrency world; what we can do is minimize your risks.
From the current market perspective, the strong bullish breakout will push the price to new highs, and typically, after each new high, there will be a pullback space of about 1,000 to 2,000 points. If we can't catch the upward trend, then we should look to seize the downward retracement. Moreover, from the hourly chart, although we are currently seeing a trend of three consecutive bullish candles, there is significant selling pressure above, and bears are rapidly building strength. Do not blindly chase the price upwards; this high point is a perfect shorting opportunity.
Bitcoin strategy: Short around 123,000, target 120,000
Ethereum strategy: Short around 3,055, target 2,950
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