Bitcoin is rebounding—will it keep rising? Sorry, I, the Qin, have to get ready to run away!
1. Let’s first talk about why it’s going up. The main reason is that it dropped into the support zone above the 75,000 level that I mentioned yesterday. This zone has been several times the low points. Once it reaches here, it should rebound. But the question is: where will the rebound go?
2. Based on how it’s performed over the past month, it typically rebounds to around 78,500, and then encounters the next resistance at about 80,500. So if you want to be safe, you can take profit near 78,500. For spot traders, being a bit greedier is also possible—or you can consider exiting in batches.
3. My personal plan is still very clear. Because uncertainty in the near term is simply too high, I don’t really want to hold for long. If I have decent profit, I’ll take profit. Whether the bill passes tomorrow night, whether there will be a rate hike on Wednesday night, and what the attitude of the “Woqi” will be—there’s too much uncertainty. I’m not really willing to gamble. I’ll first lock in the certain profits, and once the market becomes clear, then I’ll go hard again.
4. So yesterday, when Shu Qin told everyone to prepare to bottom-fish during the Bitcoin crash—as shown in the chart—buy spot around 76,000. Now look at it: it’s already up nearly 2,000 points. It hasn’t let everyone down.
Right now, we’re doing a rebound at the support level, and taking profit at the resistance level. That’s it. I won’t make a move unless it’s at the support. If it keeps rising, then as it approaches the resistance, I’ll actually consider shorting
1. Let’s first talk about why it’s going up. The main reason is that it dropped into the support zone above the 75,000 level that I mentioned yesterday. This zone has been several times the low points. Once it reaches here, it should rebound. But the question is: where will the rebound go?
2. Based on how it’s performed over the past month, it typically rebounds to around 78,500, and then encounters the next resistance at about 80,500. So if you want to be safe, you can take profit near 78,500. For spot traders, being a bit greedier is also possible—or you can consider exiting in batches.
3. My personal plan is still very clear. Because uncertainty in the near term is simply too high, I don’t really want to hold for long. If I have decent profit, I’ll take profit. Whether the bill passes tomorrow night, whether there will be a rate hike on Wednesday night, and what the attitude of the “Woqi” will be—there’s too much uncertainty. I’m not really willing to gamble. I’ll first lock in the certain profits, and once the market becomes clear, then I’ll go hard again.
4. So yesterday, when Shu Qin told everyone to prepare to bottom-fish during the Bitcoin crash—as shown in the chart—buy spot around 76,000. Now look at it: it’s already up nearly 2,000 points. It hasn’t let everyone down.
Right now, we’re doing a rebound at the support level, and taking profit at the resistance level. That’s it. I won’t make a move unless it’s at the support. If it keeps rising, then as it approaches the resistance, I’ll actually consider shorting
