In this situation, both longs and shorts need to be careful. After all, it’s the first day of the monthly line switching, and nobody knows whether price will first push upward or dip downward. But at least for now, the upward pressure levels for the BTC are around 79,000 and for the ETH around 2,480—the selling pressure there still looks quite heavy, so it may not be easy to move higher in the short term; it feels like it needs an information catalyst.
As for the downside, there’s actually less room required—just a round of news related to the U.S.-Iran conflict could be enough to push it down. So if you really want to open positions at these two levels, set your stop-loss in advance. Both the upward and downward stop-loss points are fairly easy to set. Remember: you must strictly follow your stop-loss!
As for the downside, there’s actually less room required—just a round of news related to the U.S.-Iran conflict could be enough to push it down. So if you really want to open positions at these two levels, set your stop-loss in advance. Both the upward and downward stop-loss points are fairly easy to set. Remember: you must strictly follow your stop-loss!