Nietzsche once said: What does not kill me makes me stronger. It is not because we hate our current selves, but because we like to imagine the selves we could become. The losses brought by mistakes should be less than the gains; only then can we profit.

Hello everyone, I am trader Gege. Continuing from the last article, Bitcoin has once again experienced a nearly 10,000-point drop in less than two days. Those who shorted have returned with full loads, while those who were bullish have suffered significantly. I was bullish yesterday, but I only see Bitcoin bullish above 95,000 in the short term. As long as it does not break 2,600, I remain bullish. The strategy in the article failed, but the overall thinking is still clear, especially regarding the 2,630 level, which I emphasized; if it breaks, 2,500 will be in jeopardy. I have always anticipated a second test, so there is no need to panic too much in such a market. As prices rise and volatility increases, after experiencing such markets multiple times, the following words are what you need to reflect on and accumulate as experience.

First, the cryptocurrency market is still too small and belongs to a strong institutional market. The impact of large funds on short-term trends is greater than you might think. As long as the direction is wrong and the rhythm is off, you could easily injure your account, so be cautious in your operations. Secondly, please always have a defense in place after opening a position; buckle your seatbelt. This is a common issue. A gecko sheds its tail to survive; you must remember to keep your account alive, or you might not even have time to close your position before receiving a notification via SMS or email. Finally, try not to hold positions overnight in short-term trading unless you have someone dedicated to staying up and monitoring the market. There’s no need to worry about your positions even while trying to sleep.

Returning to the technical aspect, regarding Bitcoin's current trend, I have made multiple predictions in previous articles. Now that it has broken key support, I still adhere to my previous thinking that the gap between 85,000 and 83,000 needs to be filled. I initially estimated this would happen on the eve of a bull run. Currently, we can refer to this: in an extreme case, it might briefly break below 80,000, hitting the 79,000-77,000 area, and then start a bottoming rebound to initiate the final bull phase, which is also a bull tail market. I have previously stated that I define the boundary between bull and bear markets at the 70,000-69,000 line. Regardless of how the market washes out, as long as it does not break this area, I will consider the bull market not over; conversely, it will enter a bear market.

From the weekly K-line pattern of Bitcoin, there is a high probability that the subsequent market will maintain a long period of oscillation, in a large range. After a significant drop in the short-term 4H level, indicators need to be corrected. Therefore, in the short term, you can first consider the previous low as a boundary, entering a long position around 88,000-87,500. If it breaks the previous low, then enter again around 84,500-83,800. In the short term, look to take profits of 2,000-3,000 USD. (For the trend, I suggest entering in batches around 85,000-83,000. If it breaks below this area and accelerates below 80,000, then enter in batches around 79,000-77,000. For those with small capital and poor pressure resistance, it is recommended not to participate in the trend.)

I won’t provide thoughts and suggestions here today; I will send the latest thoughts and suggestions in the Green Bubble Circle, so please pay attention!

The suggestions are for reference only. Please manage your risk when entering the market, and grasp the profit and stop-loss space yourself. Specific strategies should be consulted in real-time.

Alright, friends, we will say goodbye until next time. I wish everyone to do better and have a smooth journey in the cryptocurrency world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions regarding Bitcoin, find Gege.

Written by / I am trader Gege, a friend willing to accompany you in your resurgence.

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