Bit-Go

Happy Labor Day! A friendly reminder that during the holiday, the crypto market can be quite volatile. The game of spike and stop-loss hunting is a favorite among the whales. $BTC #BTC月线收官：年内最强月份

The market in April has been really tough, with returns constantly in a sideways fluctuation. May and June might also be the same situation, spending the entire second quarter in a consolidation phase. This is a necessary process for bottoming out. If $BTC drops to the 6xxx range, then shorting should be approached with caution; it's best not to short at all. $ETH is watching the BTC/ETH exchange rate; if BTC hits the 6xxx range, ETH is very likely to see a new low. The $SOL exchange rate has been continuously declining, and a new low is about to appear.

On Sunday, one bearish candle pierced through three bullish candles, and on Monday, there was a strong bullish candle that engulfed the bearish one. I got stopped out again, and in this kind of choppy market, you can't have a clear strategy. But if you don't have a strategy for too long, when a big trend comes, you won't be able to hold on. Trading is against human nature; the market will shatter every retail trader's fantasy. And there's reflexivity: when others are fearful, I am greedy. If you can master these two points—going against human nature and understanding reflexivity—you'll be a successful trader.

$RAVE is indeed not a good coin, the indicator system is just crap. No matter how much I've earned, there's always one trade that loses it all. The $BTC market is still unclear, the US and Iran negotiators are working hard to reach an agreement, but both sides' bottom lines are completely opposed. The verbal tug-of-war between both sides has turned the K-line into a chaotic jumble of notes 🎵. Yesterday's big drop will likely result in a bearish signal for today's daily close, I’ll be entering a bottom position shortly. What I fear the most is if the US and Iran suddenly come to an agreement, then we’ll have to test 73000 again. This market is just speechless.

The moment $BTC is benchmarked against oil prices, you can have your cake and eat it too. When oil prices started to drop, I shorted oil and increased my $BTC, setting a stop-loss. Waking up, there was indeed a pleasant surprise 👏👏👏

The best strategy right now is to be patient and wait for $BTC $ETH $SOL.

A short signal for $BTC has appeared again, continue to enter, with a stop loss at the previous high, but I've reduced my position. Don't get stopped out again, 🙄🙄🙄

Yesterday afternoon, after $BTC broke the previous high, I had to stop-loss on my short position. This morning, I woke up to find that $BTC has dropped again. Last night, a short signal for $SUI appeared, so I opened a position and recovered a bit. Today is the deadline for the US and Iran; I wonder what surprises are in store. I guess it's better to reduce my position. The market will always educate anyone who does not respect it.

Admit defeat on the short position and cut losses. Wait for the next opportunity.

Mainstream altcoins are starting to struggle, just waiting for BTC to break down, and the panic-driven final drop will come. Entering short with low leverage, setting a stop loss at the previous high, it's a worthwhile attempt.