Yesterday I took a short position on PENGU, and I was looking at a 15-minute level convergence downtrend pattern at that time. The opportunity was quite clear, so I just added a small position and got out. After all, considering the project's inherently strong background, plus the overall funding situation being bullish, the sustainability of shorts is hard to predict.
As expected, today there was directly positive news, and the market immediately surged, revealing the inherent strength of strong coins. In summary, the best strategy for this type of strong coin is still to buy on dips, follow the main trend to capture swings, and when shorting, one can only take a quick bite, entering and exiting swiftly; being a bit greedy may lead to instant reversal losses.
As expected, today there was directly positive news, and the market immediately surged, revealing the inherent strength of strong coins. In summary, the best strategy for this type of strong coin is still to buy on dips, follow the main trend to capture swings, and when shorting, one can only take a quick bite, entering and exiting swiftly; being a bit greedy may lead to instant reversal losses.