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Focus on shorting during the rebound, no more attempts at long positions!

CN
crypto钟良
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2 months ago
AI summarizes in 5 seconds.

In the past few days, trying to catch a rebound with low longs has resulted in stop losses, which is quite frustrating. I won't deny it; it has indeed affected everyone, and I sincerely apologize! One wrong step leads to another; this is often the case with trading. Missing out on a high short, wanting to short again, and then unwilling to just wait for a rebound, leads to attempts to catch a rebound and take low longs. As a result, after the rebound is pressured, the price continues to decline, forcing the long positions to stop out. Timely adjustments are necessary; moving forward, we shouldn't always aim to profit from both long and short positions. It's better to be honest and focus on one direction, just like before, only taking one direction and capturing profits from that side is enough! This is something that needs self-reflection and introspection!!!

Currently, Bitcoin's hourly chart shows the price returning above the lower band, with KDJ and RSI turning upwards after being oversold, indicating a demand for a rebound. However, on the 4-hour level, the price has not yet closed above the lower band, and the MACD bearish momentum has not yet diminished, so the current market is not sufficient to confirm the end of the correction, or to say how significant the rebound will be. If a rebound occurs, the focus should be on high shorts, and we should avoid trying to catch longs. For those who are stuck in long positions without stop losses, it's best to break even or exit with a small loss.

For resistance above at midnight, pay attention to the levels of 91500, 92500, and 93500, and set up high shorts around these positions. For support below, watch 90500, 89500, and 88500.

For Ethereum, the resistance levels are at 3130, 3180, and 3230, so participate in high shorts around these levels. For support below, focus on 3080, 3030, and 2950.

Some believe only after seeing, while others see only after believing. The market rewards you when you go with the trend and educates you when you go against it. I used to think that despair was the most heart-wrenching feeling, but later I realized that a vacant stare is the true sign of a dead heart! Never be pessimistic; close your eyes, sleep for a while, and a new dawn will come!

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