Hello everyone, I am trader Gege. When you enter the market, you need to constantly seek verification and find reasons that can convince yourself. Once you have established a position, do not keep staring at the market. Find a mobile app to set price alerts; when it reaches your stop-loss or take-profit level, whether it's a stop-loss or take-profit, re-establish your position using the same method. You will find that trading is not that painful.
You won't be affected by price fluctuations from constantly watching the market because you have enough convincing reasons to establish your position. After a stop-loss, summarize more and make fewer mistakes with the same method. Look for short positions when prices drop until you get stopped out by a reversal, and look for long positions when prices rise until you get stopped out by a break. Then change your mindset; this is much more stable than trying to profit from both sides.
After entering the market, if you keep watching, one moment it looks like it’s going to rise, and you immediately close your short and go long; the next moment it looks like it’s going to fall, and you want to close your long and go short. Or after entering the market, you ask others for their opinions; Zhang San says to buy the dip, Wang Wu says to short. In the end, whether the price rises or falls, there will be people to admire you or call for help, but the one thing that cannot be achieved is profit. So Gege summarizes this into one sentence: "Weigh more before entering, verify less upon entry, be cautious in establishing positions, and have courage in holding positions."
Let’s briefly talk about the market. Bitcoin has continued its downward trend after breaking the short-term trend line. After briefly breaking the 82,000 level, it experienced a rebound testing the 83,500 level. I won’t discuss the technical aspects today; let’s wait until tomorrow after the weekly close to detail next week’s expectations. The previous text has already estimated the market trend and support and resistance, so just refer to it for short-term trading today.
Ethereum briefly broke below 1800 but has since recovered. Although it continues to show weakness in the short term, we cannot be overly bearish for now. Let’s use the low point as a reference. If it effectively breaks below, it is expected to test the major support at around 1500. Next week, there will be important news and the monthly close, so try to pay more attention to next week’s market to see if a turning point can occur.
Short-term Bitcoin: Short at the 83,500-84,000 level, Long at the 81,800-81,000 level.
Short-term Ethereum: Long at the 1780-1750 level, do not reference if it breaks below 1750. Short at the 1880-1850 level.
The suggestions are for reference only. Ensure proper risk control when entering the market, and manage your profit and stop-loss space accordingly. Specific strategies should be consulted in real-time.
Alright, friends, we will say goodbye until next time. I wish everyone success in their trading and smooth sailing in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions on Bitcoin and Ethereum, find Gege.
Written by: I am trader Gege, a friend willing to accompany you in making a comeback.
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