Yesterday’s epic-level massive dump-and-pump rally wiped out the Air Force traders without leaving a single survivor. The main reason is that the market has been ranging sideways for far too long recently, so I guess many people holding short positions forgot to set stop-losses and got blown out. That’s the most, most, most unfortunate scenario. If you had a stop-loss and you only got stopped out, it would be a lot better. Yesterday Bitcoin surged by more than 6,000 points; the most outrageous part was Ethereum—it actually jumped by over 430 points. Good heavens, what kind of magnitude is that? It’s been how long since there was this level of single-day volatility…
In the face of this rally, the earlier high-altitude market-setup thinking looks how laughable, how tragic, how powerless it is. Time to adjust your mindset: don’t keep waiting for a bottom to form. With such a strong rally, it’s also not a good idea to chase the breakout too aggressively. Be patient and wait for a pullback, then go long on the dip!
For Bitcoin, support lies at 68,300. Next is the previous double-top resistance around 67,000—once it flips, that area becomes support. Low entries/going long can be done around here. On the upside, watch resistance at 69,500, 70,500, and 71,500.
For Ethereum, support is at 2,150, then 2,100, and 2,050. Go long around these levels to enter. On the upside, watch resistance at 2,250, 2,350, and 2,450. #FOMC会议纪要
In the face of this rally, the earlier high-altitude market-setup thinking looks how laughable, how tragic, how powerless it is. Time to adjust your mindset: don’t keep waiting for a bottom to form. With such a strong rally, it’s also not a good idea to chase the breakout too aggressively. Be patient and wait for a pullback, then go long on the dip!
For Bitcoin, support lies at 68,300. Next is the previous double-top resistance around 67,000—once it flips, that area becomes support. Low entries/going long can be done around here. On the upside, watch resistance at 69,500, 70,500, and 71,500.
For Ethereum, support is at 2,150, then 2,100, and 2,050. Go long around these levels to enter. On the upside, watch resistance at 2,250, 2,350, and 2,450. #FOMC会议纪要