The trading market is full of challenges and opportunities. Traders need to have keen market insight and calm judgment, learn to bear losses and setbacks, summarize the reasons for failure and find solutions. Every success and failure is a valuable experience. They need to improve trading skills and cognitive level, control emotions and decision-making. The long-short game is a trading activity, but also a process of growth and experience. You need to stay calm, confident and courageous, and continue to learn and grow.
After a series of consecutive positive rises, the price of Bitcoin has risen from 26,000 to 28,600, entering a high-level oscillation phase. Now the price is in the 27,200-27,600 range, and the game has intensified. After the rise of more than 2,000 US dollars, the bulls' rise has converged, and the bears have taken advantage of the situation to start a counterattack. However, at the 27,000 support level, the bears' multiple counterattacks were extinguished, and this resistance was not enough to reverse the overall upward trend.
After the decline in the previous two trading days, the market entered a low-level shock correction and accumulated strength, and moved repeatedly in the box of 27200-27600. This is a typical correction pattern. There are no bulls that only rise and never fall, and there are no bears that only fall and never rise. The long and short positions complement each other. The strong market is the amplitude of the bulls' rise, and the amplitude of the bears' fall is small. The short-term decline space is smaller than the rebound amplitude, gradually forming a trend and forming a strong pattern. Therefore, when there is a decline in the rebound, the first thing that comes to mind must be a correction, not a reversal. Again, there will be many dips, but only one reversal. We cannot blindly regard every dip as a reversal. Therefore, the current callback is still treated as a correction, and the low-multiple thinking can be maintained.
Personal operation suggestions:
Short-term: Bitcoin idea: long around 27400, target around 28200; Ethereum idea: long around 1640, target around 1720.
Long-term: Bitcoin idea: more than 27,000, target 29,000; Ethereum idea: more than 1,620, target around 1,800.
Go out of a certain space appropriately and then determine the intraday range. In the oscillating market, the point is in front and the trend is behind. It mainly depends on the grasp of the range and the accuracy of the point entry. The specific operation point shall be based on the actual market.
