After a whole day of decline, Bitcoin finally lay down, but this lay down could be a golden pit!
Brothers, have a great weekend! Yesterday's drop pushed Bitcoin close to the bottom of the daily level band, and now it has started to consolidate. It's the weekend, so the fluctuations won't be too large; it's expected to continue grinding at this position for the next couple of days.
Remember this: the longer the bottom consolidation lasts, the greater the probability of a small rebound.
Last night, my aggressive long position was stopped out by Bitcoin, but Ethereum's stop was not hit, and the position is still open. For those still in the market, be sure to manage your stop loss well, don't hold on.
At this price, it's not appropriate to short anymore. After falling so much, we can only go long and hope for a rebound. Just set the stop loss at the previous low; the proportion is very small, and the cost-performance ratio is there. If you want to short, you should at least wait until the white line position for space.
🎯 Reference for operational thinking:
Brothers who are afraid of continuing to fall can place many orders in advance at several positions below, lightly and in batches:
Bitcoin:
around 62500-63000
around 60000
Ethereum:
1910
1810
1740
These are all major support levels, and they are also the positions where people who are stuck in high positions can average down.
In terms of spot:
Bitcoin around 60500 and Ethereum around 1750, you can enter 30% of your position in batches. Whether you are trading contracts long or in spot, this position should have no problem making a swing.
Lastly, let me say:
Don't panic when it falls, don't rush when it consolidates. At this position, you can't lose a lot of money, but when it rebounds, there is significant space. Control your position well, set your stop loss properly, and leave the rest to time.
Have you placed your orders? How much did you place? Share a position in the comments to see if there are any brothers buying at the bottom together👇