#BTC Our strategy of sticking firmly to shorts was right: short the rebounds, don’t try to profit in both directions, don’t get greedy and go long—just short. Even when we were sitting on unrealized losses, they weren’t much, so we could sleep soundly without worrying. Several trades are profitable across the board, with some positions rolled over and some profits taken. We’re firmly holding the core position; it’ll be great if the price breaks lower.
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LUCKY Family
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#SOL Torrential rain, and the market is cascading like a waterfall. This is the consolidation before 80,000 breaks down. Bitcoin’s next target is 75,000, then a break below 74,000.
In a downtrend, it’s best to only short—short the rallies. Don’t go long and get trapped, hoping to break even. Take $SOL as an example: if you’re convinced it has fallen enough and is about to rise again, and you chase the rally with a long position, then refuse to cut your losses, you’ll be trapped badly and miss this downtrend.
If you choose to short, things might go smoothly, with money coming in every day and a smile on your face.
I see some people thinking the pullback has run its course and rushing to buy the spot-market dip. Bitcoin, ETH, and BNB are all still near the prices where people previously sold or cleared their spot holdings. The decline has only just begun; the bears have a long way to go, and it’s nowhere near time to enter the spot market.
US rate hikes and higher Treasury yields, with interest returns now quite substantial, may be a major force pushing all financial markets lower. Their impact is only just starting to take effect. Even gold may not have bottomed yet, and the trend is unlikely to turn around so easily.
If you opened short positions just in the past few days, hold on to them or keep a core position. As long as you stay clear of liquidation and manage your position size, you could add a little through small, light-position trades to build your shorts. Adding to positions while they’re in floating losses and reducing them when they’re in floating profit can also work.
In a downtrend, it’s best to only short—short the rallies. Don’t go long and get trapped, hoping to break even. Take $SOL as an example: if you’re convinced it has fallen enough and is about to rise again, and you chase the rally with a long position, then refuse to cut your losses, you’ll be trapped badly and miss this downtrend.
If you choose to short, things might go smoothly, with money coming in every day and a smile on your face.
I see some people thinking the pullback has run its course and rushing to buy the spot-market dip. Bitcoin, ETH, and BNB are all still near the prices where people previously sold or cleared their spot holdings. The decline has only just begun; the bears have a long way to go, and it’s nowhere near time to enter the spot market.
US rate hikes and higher Treasury yields, with interest returns now quite substantial, may be a major force pushing all financial markets lower. Their impact is only just starting to take effect. Even gold may not have bottomed yet, and the trend is unlikely to turn around so easily.
If you opened short positions just in the past few days, hold on to them or keep a core position. As long as you stay clear of liquidation and manage your position size, you could add a little through small, light-position trades to build your shorts. Adding to positions while they’re in floating losses and reducing them when they’re in floating profit can also work.