Is it Bitcoin’s time to shine? Support at 76,500 has held—do you dare trade a rebound? Crude oil is plunging; ready to take profits?
1. First, BTC—it’s back for a second test of the lows, just as expected! This morning it came back down to the strong support at 76,500, and of course Shuqin wasn’t going to hesitate—I aggressively opened a long position. So what happens next? Where will Bitcoin go from here?
2. The plan hasn’t changed! Bitcoin’s nearest resistance overhead is currently at 78,500. The last time we went long near 76,500, we took profits there. Shuqin has been talking about this short entry every day lately—I hope you managed to get in. This time, if BTC reaches 78,500, I’ll definitely take profits there too. That would be the ideal scenario.
3. This time is a little different from last time, though, because the U.S. midterm elections are tomorrow, and who knows what surprises might come up. So if you want to play it safe, you could take profits on your long position near 78,000. If you’re holding spot or using low leverage, you could take a chance—the long-term trend will definitely turn upward.
4. Crude oil has finally started to fall, dropping from 105 to 95—that feels great. As shown in the chart, we opened shorts in stages at 95, 100, and 105. You can now consider taking profits in stages, and if there’s a substantial rebound, you can short it again!
5. Actually, this strategy is pretty similar to our crude oil short in September. That time, we shorted crude from the low 90s up to 105, and three weeks later it had fallen to 88. It might not fall that far this time, but it’s already reached 95, and Shuqin is quite happy with that. I think 90 is possible too, but I’d still close part of the position at 95 first, so we can short again if it rebounds.
6. So as long as you’re patient with crude oil, 2x leverage won’t get liquidated, and you’ll be able to ride it down and take profits. The process really is wearing, though, and Shuqin feels for everyone. I’m short too, and this week hasn’t been a great experience—but it feels pretty great when the price finally drops, because we’re making money~ If there’s a substantial rebound later, I’ll short it again. I’ll keep trading aggressively every day~
1. First, BTC—it’s back for a second test of the lows, just as expected! This morning it came back down to the strong support at 76,500, and of course Shuqin wasn’t going to hesitate—I aggressively opened a long position. So what happens next? Where will Bitcoin go from here?
2. The plan hasn’t changed! Bitcoin’s nearest resistance overhead is currently at 78,500. The last time we went long near 76,500, we took profits there. Shuqin has been talking about this short entry every day lately—I hope you managed to get in. This time, if BTC reaches 78,500, I’ll definitely take profits there too. That would be the ideal scenario.
3. This time is a little different from last time, though, because the U.S. midterm elections are tomorrow, and who knows what surprises might come up. So if you want to play it safe, you could take profits on your long position near 78,000. If you’re holding spot or using low leverage, you could take a chance—the long-term trend will definitely turn upward.
4. Crude oil has finally started to fall, dropping from 105 to 95—that feels great. As shown in the chart, we opened shorts in stages at 95, 100, and 105. You can now consider taking profits in stages, and if there’s a substantial rebound, you can short it again!
5. Actually, this strategy is pretty similar to our crude oil short in September. That time, we shorted crude from the low 90s up to 105, and three weeks later it had fallen to 88. It might not fall that far this time, but it’s already reached 95, and Shuqin is quite happy with that. I think 90 is possible too, but I’d still close part of the position at 95 first, so we can short again if it rebounds.
6. So as long as you’re patient with crude oil, 2x leverage won’t get liquidated, and you’ll be able to ride it down and take profits. The process really is wearing, though, and Shuqin feels for everyone. I’m short too, and this week hasn’t been a great experience—but it feels pretty great when the price finally drops, because we’re making money~ If there’s a substantial rebound later, I’ll short it again. I’ll keep trading aggressively every day~
