Yitian’s Daily Thoughts 8.11
Yitian surged up to around 1943 but was pushed back. This long upper wick shows that selling pressure above is quite concentrated. The bulls tried a few times, but they couldn’t hold their ground—the momentum is clearly not keeping up.
For shorting today, don’t rush. Chasing the sell-off directly can easily get swept by short-term rebounds. It’s better to wait for the price to slowly rise back into the resistance zone before entering. That way, the stop-loss is easier to set, and the risk/reward is more favorable.
Trading plan: open short positions in batches around 1880 and 1920. First target: 1840. Second target: 1800.
#Robinhood将在英国推出加密交易 #伊朗任命拉扎伊为国安会新负责人 $BTC $ETH
Yitian surged up to around 1943 but was pushed back. This long upper wick shows that selling pressure above is quite concentrated. The bulls tried a few times, but they couldn’t hold their ground—the momentum is clearly not keeping up.
For shorting today, don’t rush. Chasing the sell-off directly can easily get swept by short-term rebounds. It’s better to wait for the price to slowly rise back into the resistance zone before entering. That way, the stop-loss is easier to set, and the risk/reward is more favorable.
Trading plan: open short positions in batches around 1880 and 1920. First target: 1840. Second target: 1800.
#Robinhood将在英国推出加密交易 #伊朗任命拉扎伊为国安会新负责人 $BTC $ETH