Shuqin’s market analysis: This feels amazing! Bitcoin is starting to rebound—will it keep rising? What should you do next? Come take a look.
1. First, some good news. The U.S. midterm elections are basically settled, so the uncertainty is gone. The market may have priced in all the bad news and could start a rebound! So, the question is: will it rise further?
2. It’s possible! But first, it has to get past the resistance at 78,600—the neckline standing in its way. It tried to break through once on Monday, and this is now its second attempt, so the odds of success are a bit higher. But if you want to play it safe, you can take profits on your high-leverage long positions and just hold spot.
3. If it eventually breaks through, the next resistance will be around 79,400. At that point, I’d actually consider opening a small short position, because resistance around there is still quite strong. You could catch a pullback of around 1,000 points.
4. These are short-term arbitrage trades, and they’re very simple: go long at support and short at resistance. Shuqin’s price levels are all solid. As for the broader trend, I think things could gradually improve, now that the midterm elections are settled. We’ll just have to see whether the stock market over there drags down crypto.
5. As a rule of thumb, Bitcoin tends to consolidate for two or three months after every big surge. It’s now been ranging for nearly two months, so, by that rule, the consolidation should be nearing its end. Consider building your spot position on dips—the next big move could start at any time.
6. Overall, I think we’ve traded without much to regret: we got out near the top at 87,000 ahead of the China–U.S. meeting, went long at 80,500 and short at 84,000, and then caught two rebounds at 76,500 over the past few days. If you followed along, you should have captured all the moves you could have—keep trading aggressively every day! #BTC #Futures
1. First, some good news. The U.S. midterm elections are basically settled, so the uncertainty is gone. The market may have priced in all the bad news and could start a rebound! So, the question is: will it rise further?
2. It’s possible! But first, it has to get past the resistance at 78,600—the neckline standing in its way. It tried to break through once on Monday, and this is now its second attempt, so the odds of success are a bit higher. But if you want to play it safe, you can take profits on your high-leverage long positions and just hold spot.
3. If it eventually breaks through, the next resistance will be around 79,400. At that point, I’d actually consider opening a small short position, because resistance around there is still quite strong. You could catch a pullback of around 1,000 points.
4. These are short-term arbitrage trades, and they’re very simple: go long at support and short at resistance. Shuqin’s price levels are all solid. As for the broader trend, I think things could gradually improve, now that the midterm elections are settled. We’ll just have to see whether the stock market over there drags down crypto.
5. As a rule of thumb, Bitcoin tends to consolidate for two or three months after every big surge. It’s now been ranging for nearly two months, so, by that rule, the consolidation should be nearing its end. Consider building your spot position on dips—the next big move could start at any time.
6. Overall, I think we’ve traded without much to regret: we got out near the top at 87,000 ahead of the China–U.S. meeting, went long at 80,500 and short at 84,000, and then caught two rebounds at 76,500 over the past few days. If you followed along, you should have captured all the moves you could have—keep trading aggressively every day! #BTC #Futures