Big Pie’s Trading Thoughts Today 8.20
Yesterday, Big Pie broke out with a very strong upward surge. Price directly pushed toward the 70450 area, but it couldn’t hold that high level. It quickly fell back, leaving behind a long upper wick.
After this rapid rally, the bulls consumed a huge amount of energy. Once it climbed high, a large volume of sell pressure concentrated and released, indicating that resistance above is heavy.
After a fast spike, market volatility will be exceptionally wild. Chasing highs is extremely risky. The market still has a need for a pullback and consolidation, but you also need to be cautious about the possibility of another push higher that breaks through again—don’t blindly go all-in on being bearish.
For today’s plan, it’s not recommended to directly chase shorts. In a rebound phase after a sharp drop, short-term rebounds can easily sweep stop-losses. Wait for price to rebound into the resistance zone before considering a short setup, as the risk-reward is better. If the market breaks above the 70450 high again, then you should abandon the short idea and switch to a trend-following approach.
In terms of execution:
On the rebound, scale into short positions in the 69600–70000 range. Place the defense (stop) above 70550. The first target is 68800, and the second target is 67800.
#丰田金融面向散户推出代币化债券 #美国柴油利润率突破100美元创纪录 $BTC $ETH
Yesterday, Big Pie broke out with a very strong upward surge. Price directly pushed toward the 70450 area, but it couldn’t hold that high level. It quickly fell back, leaving behind a long upper wick.
After this rapid rally, the bulls consumed a huge amount of energy. Once it climbed high, a large volume of sell pressure concentrated and released, indicating that resistance above is heavy.
After a fast spike, market volatility will be exceptionally wild. Chasing highs is extremely risky. The market still has a need for a pullback and consolidation, but you also need to be cautious about the possibility of another push higher that breaks through again—don’t blindly go all-in on being bearish.
For today’s plan, it’s not recommended to directly chase shorts. In a rebound phase after a sharp drop, short-term rebounds can easily sweep stop-losses. Wait for price to rebound into the resistance zone before considering a short setup, as the risk-reward is better. If the market breaks above the 70450 high again, then you should abandon the short idea and switch to a trend-following approach.
In terms of execution:
On the rebound, scale into short positions in the 69600–70000 range. Place the defense (stop) above 70550. The first target is 68800, and the second target is 67800.
#丰田金融面向散户推出代币化债券 #美国柴油利润率突破100美元创纪录 $BTC $ETH