Title:
Zhou Yanling: Why did Bitcoin plummet on April 14th? What to do if long positions are trapped? Latest market trend analysis and hedging strategies
Content:
Yesterday, Yanling's bearish view should have been followed by everyone, right? Isn't today a day of full harvest when you wake up in the morning? Haha! It's destined to be an extraordinary weekend. In the early morning of April 14th, Bitcoin plunged more than 7,000 points from $67,181 to below $60,000; Ethereum also dropped from $3,200 to below $2,800. Although our technical view was bearish yesterday, it was impossible to predict such an accurate plunge. This plunge was mainly due to the impact of the news. In the early morning of the 14th, the Islamic Revolutionary Guard Corps of Iran launched a large-scale missile and drone attack on Israeli targets. Due to the escalation of geopolitical tensions in the Middle East, the risk sentiment of the traditional capital market spread to the cryptocurrency market, triggering a cryptocurrency market crash.
According to CoinGlass data, this pullback triggered the largest leverage liquidation in a month, liquidating about $850 million worth of leveraged derivative trading positions in all digital assets. Of these positions, about $770 million were long positions betting on price increases, caught off guard by the sudden price drop. After this wave yesterday, many spot traders are probably panicking again, but you have to see the situation clearly. At this time, the data that should have been digested by the bulls has been mostly digested, and the upward trend has lasted for so long, it's time for a major adjustment. If you are still obsessed with the bulls and can't get out, even if the gods come, they can't save you. Yanling can only say, it's not too late to turn back! Adjust your direction in time and focus your energy on short positions in the contract, and you will soon see surprises.
Bitcoin operation strategy on April 14th:
- Short at 64800-64400, with a stop loss of 300 points, and targets at 63000-62600-62200.
- Long at 62700-63000, with a stop loss of 300 points, and targets at 64200-64600. If it continues to rise, it can be seen near 65400.
This article is exclusively authored and shared by senior analyst Zhou Yanling (WeChat: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other cryptocurrency contract/spot operations. With a solid theoretical foundation and practical experience, the author is good at combining technical and fundamental analysis, focusing on capital management and risk control, and has a steady and decisive operating style. Widely recognized by the majority of investment friends for the amiable and responsible character and sharp and decisive operations. If you need to know more about real-time investment strategies, trading techniques, operational skills, and candlestick knowledge, you can follow the teacher (WeChat: Zhou Yanling).
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