Trading summary of the recent bull market!
Big direction: go long—never once thought about taking a short.
Entry position: watch for Bitcoin to pull back, then stabilize, and only after that find a strong coin to go long.
Profit-taking position: the coin’s key resistance level, or trade based on Bitcoin’s mood.
Stop-loss position: the coin’s key support level, or trade based on Bitcoin’s mood.
Some core event thoughts:
1. BCH and UNI both rallied due to positive news from traditional brokers. But BCH has already risen a lot and is still very strong—so it has shifted away from the prior pattern of slowly distributing after pumping. That’s why UNI has also moved up; it’s about to get strong too.
2. President Xi Jinping’s visit to the US has officially started. Will tonight pull a huge waterfall? It’s worth both trying to bet and defending, but personally I won’t participate in the long-shot short-side bet. I only look for reversal-bounce trades at stabilization levels.
3. The bull market is here. It seems that as long as you go long, and hold long enough, you can get back to even. But don’t open positions in meaningless levels. Don’t enter without a reason. Try to avoid churn/overtrading—lessons learned from bitlanglang.
Big direction: go long—never once thought about taking a short.
Entry position: watch for Bitcoin to pull back, then stabilize, and only after that find a strong coin to go long.
Profit-taking position: the coin’s key resistance level, or trade based on Bitcoin’s mood.
Stop-loss position: the coin’s key support level, or trade based on Bitcoin’s mood.
Some core event thoughts:
1. BCH and UNI both rallied due to positive news from traditional brokers. But BCH has already risen a lot and is still very strong—so it has shifted away from the prior pattern of slowly distributing after pumping. That’s why UNI has also moved up; it’s about to get strong too.
2. President Xi Jinping’s visit to the US has officially started. Will tonight pull a huge waterfall? It’s worth both trying to bet and defending, but personally I won’t participate in the long-shot short-side bet. I only look for reversal-bounce trades at stabilization levels.
3. The bull market is here. It seems that as long as you go long, and hold long enough, you can get back to even. But don’t open positions in meaningless levels. Don’t enter without a reason. Try to avoid churn/overtrading—lessons learned from bitlanglang.