I've taken this trade! Bitcoin has finally reached 117,000. It's been rising recently due to the positive news of the interest rate cut. The rate cut will take effect tonight at 2 AM, and there's a good chance of a correction over the next few days as the positive news fades.
So I'm starting to short at low leverage on rallies. BTC is now over 117,000, which is a perfect time to enter my first short position. Maybe it could even touch 118,000 by tonight after the rate cut. It's all possible. So I'm shorting at low leverage and entering in batches, not chasing high leverage. The market fluctuates wildly during Powell's speeches, so it's not suitable to open high leverage contracts. You can't hold onto them, and you won't sleep well, so why bother?
After that, I plan to rebuild my position around the end of September to catch the bottom. Theoretically, there will be another rally in October and November, but that's a story for another time. Let's observe the subsequent trends of this interest rate cut and then adjust our strategy. Open trades aggressively every day.