Bitcoin Strongly Breaks Through $62,000
The market's trend has exceeded expectations. Originally, I thought that the V-shaped rebound would probably occur by the end of August, but unexpectedly, it started to gain momentum last night and has basically completed the V-shaped rebound. This is the power of trends. Every bull market outbreak is preceded by a heart-stopping panic sell-off.
A simple summary at the macro level:
The United States is not in recession! The Bank of Japan is not raising interest rates! Iran did not retaliate against Israel! Instantly, the world is peaceful and calm again, and the global financial markets are on the rise again every day!
In terms of operations, don't hesitate too much, just choose the right target and buy.
Starting from August, the market will continue to rise until the end of the year, and then enter a correction phase. After the correction is over, there will be another big market next year, so everyone should take proactive action.
For most people, don't touch futures… It's better to buy spot and hold.
Look, the price of Bitcoin has come back again~~~
From the big drop on August 5th, 6th, and 7th, I repeatedly said to buy spot and take advantage of the plunge in Bitcoin spot. It's the best time to enter the market. I wonder if you followed suit, brothers?
Short-term Bitcoin rebound, focus on the $64,000 resistance level, if it can break through, the entire trend will return to the upward channel, and the market will completely reverse.
If Bitcoin can still pull back to over $50,000 in the future, continue to gradually buy the dip in spot, cherish this golden opportunity!!
Another major positive news!
Russian President Putin has signed a law legalizing cryptocurrency mining in Russia.
Putin said: Cryptocurrency is full of prospects, and Russia must seize the opportunity!
Starting in 2024, cryptocurrency has developed to the political level. If it was previously a competition between individuals and investors, then in the future, it will be a competition between countries. Countries will start competing in mining and strategic Bitcoin reserves. With El Salvador in the front and major powers like the United States and Russia in the back, I believe that in the near future, cryptocurrencies will only get better!
Buying the dip after a sharp drop
When there is a super sharp drop, buy about 10-20% immediately after the big plunge.
Reduce holdings at various resistance levels during the subsequent upward rebound.
Do not short in this upward trend, only go long.
After stabilizing, gradually transition from large coins to mid and small coins.
In this market, the only way to make a long-term profit may be to hold coins, of course, I'm talking about mainstream coins.
When Bitcoin hits a new all-time high, it's the moment when some high-quality altcoins go crazy.
The possibility of this wave of Bitcoin directly hitting a new high is very high, after all, this wave of washing out is indeed fierce, with a sharp drop in futures positions. Whether it's the bulls or the bears, they have been hit… and some have been hit back and forth.
The bull market has always been here!
The recent decline has caused many retail investors to lose confidence, thinking that the bull market is over?
The overall trend has not changed. We are still in a bull market phase. The recent sharp drop is just a normal phenomenon in the upward trend of the bull market, although the magnitude of the decline is indeed not small, exceeding the expectations of most people, especially for Ethereum and its series!
In terms of policies, funds, and technology, they are all developing in a positive direction!
One wrong step, and every step is wrong!
During the decline, I have been reminding everyone to hold onto their chips and not give them up easily. If you cut your losses and give up your chips, that's a real loss. Without cutting losses, being temporarily trapped, the trading is not over, it can only be considered a temporary paper loss!
Especially for retail investors:
You don't understand the trading techniques of bull and bear market cycles, you don't have the correct investment mindset and concepts, you don't have a good mentality, and you don't have a particularly effective strategy and risk control system to escort you. One wrong step, and every step is wrong!
This makes this bull market difficult step by step, facing a major crisis: it's not about how much money you can make in a bull market, but whether you can even break even in this bull market is uncertain!
The trend in the cryptocurrency market changes very quickly! The further we go, the more tests there will be!!
Follow me and let's welcome the super bull market together!!!
Friendly reminder: Playing with futures, making money is just a process, but liquidation is definitely the final result. Cherish life, stay away from futures!!!
In the cryptocurrency industry, if you want to seize the opportunity of the next bull market, you need to have a high-quality circle, where everyone can huddle together, maintain insight. If you are alone, looking around, and finding no one, it's actually very difficult to persist in this industry.
If you want to huddle together or have doubts, feel free to join us - WeChat Official Account: Young Crypto Enthusiasts
Thank you for reading. If you like it, please give it a thumbs up and follow us. See you next time!
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