The big pie (BTC) was ground down for two days, and tonight it finally stabbed through 63,000 and hit 62,800. #BTC —however, right after the needle dropped, it bounced back up to 63,000–63,300 and ground there again. Here, I let everyone guess: is it really trying to go down, or is it deliberately luring shorts?
I actually吐血 today. This morning near 63,600 I went short, thinking that once it breaks 63,000 and stabs down below and won’t go further, I’d run. Later it was pulled up to 63,990 before coming down—so I caught about 200 points and exited. Tonight it pulled back up to 63,980 but didn’t short it again. That short order got away. These past two days grinding the big pie has made me feel disgusted. So tonight I didn’t enter a short again. Because I kept hitting 63,300 and it didn’t break down; after the second rebound at 63,980, I thought that tonight no matter what, there should be a stab up to above 64,000. If it can’t hold, then I would short. But after that, it just slowly pressed down.
Right now, the best idea for the big pie is: if it can’t bounce back up to 63,500, don’t do too much first. If it can’t go up, it’s very likely to step down and make a run toward 62,500–61,500. So low-buys around these levels, staged in batches, are better for trading. And once it breaks 63,500, it’ll be fine to add more later.
I actually吐血 today. This morning near 63,600 I went short, thinking that once it breaks 63,000 and stabs down below and won’t go further, I’d run. Later it was pulled up to 63,990 before coming down—so I caught about 200 points and exited. Tonight it pulled back up to 63,980 but didn’t short it again. That short order got away. These past two days grinding the big pie has made me feel disgusted. So tonight I didn’t enter a short again. Because I kept hitting 63,300 and it didn’t break down; after the second rebound at 63,980, I thought that tonight no matter what, there should be a stab up to above 64,000. If it can’t hold, then I would short. But after that, it just slowly pressed down.
Right now, the best idea for the big pie is: if it can’t bounce back up to 63,500, don’t do too much first. If it can’t go up, it’s very likely to step down and make a run toward 62,500–61,500. So low-buys around these levels, staged in batches, are better for trading. And once it breaks 63,500, it’ll be fine to add more later.