$BTC I suppose tonight's 79300 longs. If the stop loss was too tight, basically when it broke below 79300 to 78600, they were taken out. In the big data era, once bulls gather at a certain point, those with stop losses are easy to get hit, and the big players love doing this. This level is actually also around the place where the U.S. stock market opened at 9:30 yesterday and where the price was pushed up, which is the trap level. This level is supported by the 1-hour EMA dual-channel support, and the Bollinger midline support on the 4, 6, 8, and 12-hour timeframes.
So in the current environment, it is not good to place tight stop losses. You need to also understand the market structure and control your position size. The daily indicators are clearly bullish, with a lot of room still unfilled, and the medium-term indicators have not formed a bearish trend either. How can it fall? Tell me.
I’ll say it again: bullish. Going long at 79300 is totally OK. Of course, if you wait to go long at 78600, then you are patient enough and can make 700 more points!
So in the current environment, it is not good to place tight stop losses. You need to also understand the market structure and control your position size. The daily indicators are clearly bullish, with a lot of room still unfilled, and the medium-term indicators have not formed a bearish trend either. How can it fall? Tell me.
I’ll say it again: bullish. Going long at 79300 is totally OK. Of course, if you wait to go long at 78600, then you are patient enough and can make 700 more points!
