The current trend in the cryptocurrency market is very weak. Even with the interest rate cut as a positive factor, it cannot rise. After the interest rate cut, the trend in the cryptocurrency market can be imagined, and everyone should be prepared. However, there are only 4 days left until the interest rate cut, and Bitcoin has a chance to rebound a bit, which will be your last opportunity to set up a short position.
Ethereum is similar, with a strong resistance at 3250. Many bulls are selling at a high near that level, rather than choosing to take profits at the 3250 whole number. Shuqin directly urged everyone to short on Thursday, and the price fell nearly 10% from 3240 in two days. This is still a significant drop even with the positive impact of the interest rate cut, so the bear market in the cryptocurrency sector can be very harsh, and it may not take a few weeks to drop back to the previous low of 2600.$ETH
Those who have already shorted with me can hold long-term, while those who haven't set up short positions yet can look for a rebound, entering one or two days before the interest rate cut. Then ZEC Shuqin said at 300 that it would rebound, and then shorted near 420. It indeed rebounded to 410 before crashing down. If it has a significant rebound, I'm still willing to short!
Some babies always pursue short positions at the highest point, which is actually unnecessary, and there's a large element of luck involved. ETH will eventually drop below 2000, so there’s really no difference between shorting at 3100 and 3300.
I can understand the sense of loss from not being able to short at the top; this is actually a form of obsessive-compulsive disorder or perfectionism. This kind of psychology is quite common, and I have it too. I even went to see a psychologist about it.
At first, it was actually quite difficult to overcome. In real life, this kind of situation is harmless, but in the cryptocurrency circle, it can be fatal. Pursuing perfection can lead to big problems. So as I spend more years in the cryptocurrency circle, I’ve become indifferent to the ups and downs and the market manipulation by big players. My mindset has softened; now I pursue a vague correctness in my operations, entering in batches, and just aiming to catch a safe portion of the fish in a trend. As for the head and tail of the fish, you need luck to catch them. Many people lose money because they didn't take profits at high points, greedy for a little tail, and ended up with nothing, possibly even losing money.
So this is also why I don't choose to start setting up short positions on the day of the interest rate cut; instead, I start entering in batches a few days before the cut. If there are good high points, I short. Even if it continues to rise, I have remaining positions to average down, not panicking at all, slowly rolling the snowball. Because I know that the cryptocurrency circle is full of opportunities, trading coins is not about who makes money faster, but about who lasts longer. If you last longer, you'll naturally make money over time, don't you know?
