Raise your eyebrows and exhale! Family, we succeeded! Shorting Bitcoin at the peak of 74,000, what should we do next?
1. Bitcoin touched the high-pressure line of 74,000 last night and dropped 4,000 points. The 70,000 integer level has some support, and the previous support around 69,000 for our short position is also quite good. So should we take profits now?
2. Personally, I prefer to be cautious when operating at high points. I have already let everyone take some profits just above 70,000, and then I also placed some orders to take profits around 69,000, pulling out some bullets to see if there’s a significant rebound so we can short again.
3. I choose to take profits halfway not because I want to greedily short again after a rebound, but quite the opposite. I am worried that the bulls are not giving up. If they attack again, we still have enough bullets to respond.
4. This is just like when we first shorted at 74,000 on March 5th. At that time, $BTC dropped to 69,000 and 67,000, and we also took profits to lock in gains. So now that we are probing the peak at 74,000 again, we have bullets to short downwards. Every step must leave ourselves an escape route. If there’s no rebound, it means continuing downward, which is actually better. Then we shorted $ETH when approaching 2240; I personally placed an order at 2228, but unfortunately, I just missed it, while BTC is very much aligned with resistance levels.
5. If BTC rebounds to the upper edge of the consolidation zone we shorted earlier at 71,000-72,000, I think it’s a good opportunity to add to shorts because now Trump has started sending the Marine Corps to Iran, and ground wars typically last over 1 or 2 weeks. Plus, on March 18th, if the Federal Reserve does not cut interest rates, I think there’s no good news in the short term.
6. After 1 or 2 weeks when Trump is about to cease fire, we will consider going long again. The price must be low; I would only consider entering above 60,000, and when the price reaches above 70,000, I will be more inclined to short. In the chart, I also shorted over 100,000 U at around 74,000 and 72,000, not letting everyone down, and we successfully shorted!
1. Bitcoin touched the high-pressure line of 74,000 last night and dropped 4,000 points. The 70,000 integer level has some support, and the previous support around 69,000 for our short position is also quite good. So should we take profits now?
2. Personally, I prefer to be cautious when operating at high points. I have already let everyone take some profits just above 70,000, and then I also placed some orders to take profits around 69,000, pulling out some bullets to see if there’s a significant rebound so we can short again.
3. I choose to take profits halfway not because I want to greedily short again after a rebound, but quite the opposite. I am worried that the bulls are not giving up. If they attack again, we still have enough bullets to respond.
4. This is just like when we first shorted at 74,000 on March 5th. At that time, $BTC dropped to 69,000 and 67,000, and we also took profits to lock in gains. So now that we are probing the peak at 74,000 again, we have bullets to short downwards. Every step must leave ourselves an escape route. If there’s no rebound, it means continuing downward, which is actually better. Then we shorted $ETH when approaching 2240; I personally placed an order at 2228, but unfortunately, I just missed it, while BTC is very much aligned with resistance levels.
5. If BTC rebounds to the upper edge of the consolidation zone we shorted earlier at 71,000-72,000, I think it’s a good opportunity to add to shorts because now Trump has started sending the Marine Corps to Iran, and ground wars typically last over 1 or 2 weeks. Plus, on March 18th, if the Federal Reserve does not cut interest rates, I think there’s no good news in the short term.
6. After 1 or 2 weeks when Trump is about to cease fire, we will consider going long again. The price must be low; I would only consider entering above 60,000, and when the price reaches above 70,000, I will be more inclined to short. In the chart, I also shorted over 100,000 U at around 74,000 and 72,000, not letting everyone down, and we successfully shorted!
