Made 300,000 in a night trading cryptocurrencies! An exciting night without sleep, just got up. Let's talk about the upcoming trading strategy, is the big one coming?
As shown in the figure, Bitcoin is currently in a volatile range, with resistance at 93,000-94,000 and support around 89,500-90,000. So a better strategy is to go long at the bottom support area and then short near the top resistance area, making back-and-forth trades.
However, I personally don't want to go long. I prefer to short every time it goes up and don't want to operate in both directions because I still feel that going long is risky. The support at 88,500 could be broken at any time, and a new wave of large C-wave decline will follow.
This was mentioned by Shuqin yesterday, and now we are in a downward continuation, prompting everyone to short. Last night, the price of the currency plummeted smoothly. Some whales are going long, believing that if the U.S. stock market is in a bull market, the cryptocurrency market will also rise. Is there a possibility that the U.S. stock market is about to crash? Yesterday, there was a sudden drop of 2% without any warning, and futures repeatedly inverted short-term with spot prices, which feels a bit crisis-like.