Shuqin Market Analysis: 😂 What the heck is going on? The Middle East is fighting again? Can Bitcoin hold up this time?
1. Just today, Saudi Arabia launched airstrikes on Yemen, killing 33 people! Right after that, the US also launched small-scale airstrikes on Iran and hit a cargo ship. Things got this wild over the weekend—are we doomed again when markets open next week?
2. The risks are definitely increasing! The Middle East, which had been quiet for a few days, is fighting again. Bitcoin hasn’t fallen much, perhaps because Wall Street is closed over the weekend. Another reason may be that the market actually learned about this news before the midterms, and prices had already dropped in anticipation.
3. So, is this conflict bearish? Absolutely. But the news about Trump gathering troops and evacuating citizens had been common knowledge for the past two weeks, so the downside impact isn’t all that big. What opportunities are there now to make money?
4. Compared with the uncertainty around crypto and tech stocks, I think crude oil (CL) is by far the most worth watching. If it rebounds significantly, we can still enter in batches at 95, 100, and 105. Short it when it gets there, just like before. Use 2x leverage for the long-term position; eventually, we’ll close the shorts in profit and take our gains. Don’t use too much leverage. The previous few shorts took 2–3 weeks before we could close them.
5. As for Bitcoin, the risks have definitely increased a bit now that the Middle East is fighting again. Keep a close eye on whether it can hold around 75,000. We previously suggested going long at 75,000, and now it has rebounded to 76,000. If you want to play it safe, you can sell some and keep only spot holdings. There are a lot of sudden events happening now, and we retail traders can’t change that—we can only manage our own risk.
6. But looking at the long term, Shuqin still has high hopes for the market. Every past midterm election has marked a major cycle bottom, and prices have now fallen as expected. Although there have been plenty of surprises, I believe being stuck in a losing position is only temporary, and a new market rally will definitely come. This time next year, you’ll be thanking yourself for bravely buying the dip this month! I’ve bought in—I have no regrets! #BTC #Futures
1. Just today, Saudi Arabia launched airstrikes on Yemen, killing 33 people! Right after that, the US also launched small-scale airstrikes on Iran and hit a cargo ship. Things got this wild over the weekend—are we doomed again when markets open next week?
2. The risks are definitely increasing! The Middle East, which had been quiet for a few days, is fighting again. Bitcoin hasn’t fallen much, perhaps because Wall Street is closed over the weekend. Another reason may be that the market actually learned about this news before the midterms, and prices had already dropped in anticipation.
3. So, is this conflict bearish? Absolutely. But the news about Trump gathering troops and evacuating citizens had been common knowledge for the past two weeks, so the downside impact isn’t all that big. What opportunities are there now to make money?
4. Compared with the uncertainty around crypto and tech stocks, I think crude oil (CL) is by far the most worth watching. If it rebounds significantly, we can still enter in batches at 95, 100, and 105. Short it when it gets there, just like before. Use 2x leverage for the long-term position; eventually, we’ll close the shorts in profit and take our gains. Don’t use too much leverage. The previous few shorts took 2–3 weeks before we could close them.
5. As for Bitcoin, the risks have definitely increased a bit now that the Middle East is fighting again. Keep a close eye on whether it can hold around 75,000. We previously suggested going long at 75,000, and now it has rebounded to 76,000. If you want to play it safe, you can sell some and keep only spot holdings. There are a lot of sudden events happening now, and we retail traders can’t change that—we can only manage our own risk.
6. But looking at the long term, Shuqin still has high hopes for the market. Every past midterm election has marked a major cycle bottom, and prices have now fallen as expected. Although there have been plenty of surprises, I believe being stuck in a losing position is only temporary, and a new market rally will definitely come. This time next year, you’ll be thanking yourself for bravely buying the dip this month! I’ve bought in—I have no regrets! #BTC #Futures