The account has hit a new high—let me share my thoughts on my next steps.
I still woke up on time at 6 this morning.
Seeing how the ETH and SOL I chased last night are still continuing to push to higher levels, they’ve really been doing well.
That also means my earlier analysis on ETH was able to explain some underlying logic.
1）In this recent bear market, while most BTC is seeing net outflows, ETH is still showing net inflows via ETF capital.
2）From the K-line technical pattern, it’s clear that ETH is stronger than the big pie (BTC). And the current SOL technical setup speaks for itself as well.
3）Finally, it’s about when BTC prints a big bullish candle—who rallies along with it, and whose move is the strongest. The strongest one is the one you get on. No doubt, I saw the Hype, ETH, and SOL.
Yesterday, during the day, I held short positions on BTC, BCH, and XRP. But seeing that the two weakest mainstream coins, BCH and XRP, were both still moving up, I decisively flipped from short to long—entering ETH and SOL. Then after the first wave of a big bullish candle on BTC, around 11 last night, I added more to SOL and ETH.
This morning, what was rising the most best was actually HYPE, and it was already nearing the previous high. So I first opened a starter position. After HYPE breaks above the previous high, I’ll add more. For this round, what I’m most bullish on is Hype. I remember that one of my earlier analysis posts about ETF capital mentioned the reasons.
Also this morning, I added to a short position on SpaceX, because it’s still trending weakly. The bad news won’t fully land until tonight, and there’s room to the downside—at least I expect to see the issue price of 135. Based on the last time on 8/6 when it was unlocked, once it lands it will start to rally. But this time I think it could be different—we’ll need to watch based on the strength at the time and the overall market environment. Personally, I think after it lands there may still be another leg of downside. After all, China only pulled down its future valuation a bit yesterday. If things are steadier, you can take profit on a portion after it lands.
The above is just my personal trading analysis and record, and does not constitute investment advice.
I still woke up on time at 6 this morning.
Seeing how the ETH and SOL I chased last night are still continuing to push to higher levels, they’ve really been doing well.
That also means my earlier analysis on ETH was able to explain some underlying logic.
1）In this recent bear market, while most BTC is seeing net outflows, ETH is still showing net inflows via ETF capital.
2）From the K-line technical pattern, it’s clear that ETH is stronger than the big pie (BTC). And the current SOL technical setup speaks for itself as well.
3）Finally, it’s about when BTC prints a big bullish candle—who rallies along with it, and whose move is the strongest. The strongest one is the one you get on. No doubt, I saw the Hype, ETH, and SOL.
Yesterday, during the day, I held short positions on BTC, BCH, and XRP. But seeing that the two weakest mainstream coins, BCH and XRP, were both still moving up, I decisively flipped from short to long—entering ETH and SOL. Then after the first wave of a big bullish candle on BTC, around 11 last night, I added more to SOL and ETH.
This morning, what was rising the most best was actually HYPE, and it was already nearing the previous high. So I first opened a starter position. After HYPE breaks above the previous high, I’ll add more. For this round, what I’m most bullish on is Hype. I remember that one of my earlier analysis posts about ETF capital mentioned the reasons.
Also this morning, I added to a short position on SpaceX, because it’s still trending weakly. The bad news won’t fully land until tonight, and there’s room to the downside—at least I expect to see the issue price of 135. Based on the last time on 8/6 when it was unlocked, once it lands it will start to rally. But this time I think it could be different—we’ll need to watch based on the strength at the time and the overall market environment. Personally, I think after it lands there may still be another leg of downside. After all, China only pulled down its future valuation a bit yesterday. If things are steadier, you can take profit on a portion after it lands.
The above is just my personal trading analysis and record, and does not constitute investment advice.