Zongheng Freely: The entire line of counterfeit goods is experiencing a pullback, and the market is plunging. It is necessary to prepare an operational plan in advance.

CN
1 month ago

Free is the most expensive thing in the world. When this free service nourishes you over time, it can lead to a loss of self-judgment and an inability to think critically. The extremely high accuracy may astonish you, but you fail to understand the importance of participation. The market is constantly changing, and you need to adapt in real-time, occasionally making adjustments to your positions!

Yesterday's article specifically pointed out the market's long and short positions, and today we suddenly see liquidation information. Many people may wake up today to find their positions gone, especially in some altcoin contracts. This wave of selling has led to $1.7 billion in liquidations within 24 hours, affecting 500,000 victims, with an average loss of $3,400 per person, including one major player who lost $19.69 million. Now, looking at the market, Bitcoin hasn't dropped much, but altcoins have seen a more significant decline. If you have experienced previous bull markets, you are not unfamiliar with such trends.

There are a few key points for reference. The market's decline requires us to discover opportunities within it. First, strong altcoins were mentioned yesterday. From a macro fundamental perspective, Bitcoin is still solid in the big trend. The current drop in altcoins is not entirely a bad thing. According to market experience, generally, coins that perform strongly and have anti-dip properties during a decline are likely to be the first to rebound when the market turns. Focus on coins that had strong upward trends and small declines, and pay attention to trading volumes, opting for those with high volumes. Each major drop is an opportunity to increase your positions.

Additionally, in the cryptocurrency market, I still recommend that everyone manage their positions well and plan their operations. I would like to share a method introduced by a friend during our discussions. It involves using a portion of your profits, say 20-30%, to buy Bitcoin, regardless of whether the profits come from altcoin spot trading or contracts. The reason is simple: over the years, Bitcoin's status, recognition, and long-term returns remain unmatched. Therefore, the core principle is to adopt any planning method that ultimately prioritizes Bitcoin as the base currency. Everyone has different trading styles, and I hope everyone can earn more profits!

The short-term trading strategy provided yesterday is still valid. Based on this strategy, shorting during a short-term pullback can yield good returns. In such a market, it’s best to proceed steadily, as it is a gradual accumulation process. Now, let’s discuss today’s market.

Yesterday, I mainly talked about the daily trend of Bitcoin and emphasized the daily pullback. The MA20-30 moving average range is generally an important area in the short term. Currently, the price has touched the MA30 line and is operating near the MA20 daily line. Today, a friend asked where the market might drop to and whether the pullback has ended. Such questions are difficult to answer; we are human, not clairvoyants, as the market changes rapidly, and even the market makers may not know the exact levels. At this point, the pullback has reached a level that can be reasonably anticipated in the short term. To put it bluntly, there is still upward momentum in the short term, as there is no significant market panic. Therefore, the impact of the pullback mainly affects the duration before the next rise, and currently, the overall trend has not changed.

Looking at the four-hour level today, I reminded you yesterday that the four-hour trend is in a pullback phase, so we were relatively bearish on yesterday's market, and the results confirmed this. The current four-hour chart has released the predictable pullback risk and has found support. After the price spike, there is buying strength below, showing a certain technical rebound demand. The indicators are starting to turn, and the market is not looking bad despite the spike, which may lead to an earlier four-hour rebound. It’s important to note that this week, CPI data will be released, which will impact interest rate decisions and reflect on the cryptocurrency market, forming a key time node.

Now, back to the short-term trading issue. With Bitcoin at such a high price, most people cannot afford to buy spot; however, if you are interested in contracts, it is still an option. Considering the changes in smaller time frames, I suggest waiting to short until the next pullback is confirmed before looking for upward rebounds. Short near 97,500, and if it retraces to around 95,000, consider going long, then assess the rebound strength. I will adjust specific operations based on real-time conditions.

Ethereum (ETH) is holding up relatively well against declines, and its operations are similar to Bitcoin. You can short near 3,750, with short-term support at 3,600.

As for altcoin buying choices, I have already introduced them above, and you can research them yourself. Personally, I received some altcoins today and will hold onto them until the adjustments are over. As always, if you have any promising options, feel free to recommend them to me.

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article is subject to review and publication, and market conditions change in real-time. The information may be outdated, and specific operations should follow real-time strategies.】

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