I'm about to start trading! Touch the top on the left side and establish a short position. Any rebound in the cryptocurrency market before the rate cut is a dead cat bounce. The perfect short position for Bitcoin is still around 117,000. Short positions should be placed in batches at rallies, but it's also okay to build a small position at 116,000 a little earlier, as we already shorted it yesterday near 117,000, hitting the support level above 114,200. So now I'm waiting for another rebound to continue shorting. I also hold short positions at low leverages of around 1-3 times, including in smaller currencies. Why do I say low leverage? Because there's some uncertainty surrounding Powell's speech on the day of the rate cut. A decline is inevitable, but don't be too aggressive and leave some room for market fluctuations. A sharp drop after a rate cut isn't necessarily an immediate one; a volatile decline is quite possible. We've been aggressively bullish on Bitcoin from 107,000 to 117,000, but I'm no longer bullish at this point. This weekend, I'm telling everyone to take profits on altcoins at every rally high. Don't get caught up in the interest rate cut trap. The first wave of decline hit on Monday, but the decline may not be over yet. I'm planning to place some more short positions on rallies. I've placed low-volume orders between 116,000 and 118,000, taking as many as I can. I'm very hands-on. BTC's support is around 114,200-114,500, and the traditional support around 113,300 is also strong. I'll take profits at these levels depending on the situation. If you prefer a safe bet, avoid futures trading and wait and see, or just take a small position and wait for a dip to buy some spot stocks. This is a safer approach, depending on your risk appetite.
Risk and Disclaimer:The content shared by the author represents only their personal views and does not reflect the position of CoinWorldNet (币界网). CoinWorldNet does not guarantee the truthfulness, accuracy, or originality of the content. This article does not constitute an offer, solicitation, invitation, recommendation, or advice to buy or sell any investment products or make any investment decisions
No Comments
edit
comment
collection
like
share