Today marks the 6th anniversary of the 3.12 crypto disaster. I don't have a strong urge to open positions! Observing and waiting is also a way to respect history.
I believe there will definitely be a major reversal between tomorrow and the 15th, whether up or down is unclear! Since I can't see the trend clearly, it's best to maintain light positions or stay in cash and observe!
If I really have to trade, I think BTC 71800-72400 for shorting and 74000 for shorting are relatively good entry points!
As for going long, I'm personally not very optimistic!
In a bear market, rallies are sharp but declines are slow. The major direction is still downward! Unless there's a quick drop and wick, taking a bite of the retracement is no problem. During sideways consolidation phases, whatever you do might be wrong!
As crypto folks often say: going all-in kills you, holding onto losses kills your heart! It's better to have more patience and wait!
Here's my plan:
Today marks the 6th anniversary of the 3.12 crypto disaster. I don't have a strong urge to open positions! Observing and waiting is also a way to respect history.
I believe there will definitely be a major reversal between tomorrow and the 15th, whether up or down is unclear! Since I can't see the trend clearly, it's best to maintain light positions or stay in cash and observe!
If I really have to trade, I think BTC 71800-72400 for shorting and 74000 for shorting are relatively good entry points!
As for going long, I'm personally not very optimistic!
In a bear market, rallies are sharp but declines are slow. The major direction is still downward! Unless there's a quick drop and wick, taking a bite of the retracement is no problem. During sideways consolidation phases, whatever you do might be wrong!
As crypto folks often say: going all-in kills you, holding onto losses kills your heart! It's better to have more patience and wait!