Coin World News Report:
Another sea of red
Bitcoin was successively attacked by short sellers overnight, dropping directly to around 60500, indicating panic in the market. The support at the 60,000 level temporarily held, and today’s rebound reached 61400-61800-62300. If it continues to decline, it may break below.
Let me tell you a ghost story. This time in the cryptocurrency market, the decline only lasted for 4 days. Have you ever seen a market that ended after only 4 days of decline? Usually, it takes half a month or even a month to hit the bottom and then another half a month of grinding. This market correction has left the entire market puzzled, wondering why?
BTC has continued to decline to the 4-hour MA250, which is the dividing line between the uptrend and the correction period. Both long and short positions will deploy their forces here. Moreover, it is the weekend, so the probability of continuous decline here is not high. Just hold on and wait for two anxious days, and a rebound should come on Monday or Tuesday next week. So, I remind you all not to panic.
Editor
Opportunity for long position next week: Long position 1 at 58888, take profit at 60300 on rebound. Stop loss at 58200. Long position 2 at 58200, take profit at 59300 on rebound. Stop loss at 57700. During the bottom-fishing stage, long position 1 at 56666, take profit at 58000 on rebound; stop loss at 56000. During the bottom-fishing stage, long position 2 at 53666, take profit at 56000 with 20% profit (if 56000 stabilizes, then the overall situation will gain a profit of 10,000 points; if it does not stabilize, stop loss near the cost, and defend at 50888).
Today, I saw discussions in the group about how to short in a bull market and make big money. Let me give a unified response: for the sharp decline and washout in a bull market, the method is “either liquidation or getting rich, that’s how shorting works in a bull market, making money from the washout.” For new friends outside the group, let me add one more thing: “everyone should refrain from any risky operations during a strong one-way market.”
So why is it hopeless to recover after losing too much?
1. If you lose 3%, you need to earn back 3.09% to break even. 2. If you lose 30%, you need to earn back 42.87% to break even. Let’s take a specific example: suppose you have 100,000 yuan, and the first transaction loses 3%, reducing your capital to 97,000 yuan. At this point, you need to earn back 3.09% in the next transaction to recover to 100,000 yuan. But if your first transaction loses 30%, your capital will only be 70,000 yuan. To recover from 70,000 yuan to 100,000 yuan, you need to earn back 42.87% (i.e., 30,000 yuan). This not only requires more time (time cost), but also requires encountering extremely rare strong one-way market conditions (low probability).
Success is not based on luck; choices are greater than efforts, and one’s circle determines their destiny.
Let’s speak with strength and demonstrate value! In the cryptocurrency market, when the market is good, you can make money in any way you play. But you must understand that the market in the cryptocurrency world will not always be good!!! Knowing when to buy and when to sell in the cryptocurrency market is what truly matters!
