Trading Plan Update
1. Bitcoin
Currently holding a short position from the rebound to around 15,000. I anticipated further consolidation and a bull trap, so I only entered a small position.
On the daily chart, the situation is unclear. There's a high probability of further declines, forming a large-scale correction, or simply consolidating. Upward momentum is less likely, so I'm cautious about going long. Overall, BTC has weakened.
On the hourly chart, I'm watching the 99,390 level.
I don't recommend trading for now. The probability of further declines or consolidation is higher. I'm waiting for a continuous weekly-level pullback.
2. BNB (Binance Coin)
Closed the spot hedging position yesterday at around 721, stopping out. The price turned downward. This is a normal occurrence when I'm not actively monitoring the market. It's important to accept reality and adjust one's mindset in such situations.
BNB seems relatively strong. Considering BTC's trend, I can enter a long position on the hourly chart.
On the daily chart, if BTC doesn't decline, there's a higher probability of a range-bound market.
Generally, BNB tends to consolidate when BTC is stable or rising. It will only experience a short-term sharp decline if BTC undergoes a significant drop, and it will surge when there's major positive news. Overall, it's a slow upward trend. The underlying logic is that a large number of holders are long-term investors and don't care about short-term fluctuations. Refer to the recent BNB airdrops to holders. Therefore, we can consider trading range-bound positions on the hourly chart and buy BNB for long-term holding after BTC undergoes a significant pullback.
3. SUI
SUI is still in a daily chart-level pullback. There's a general pattern: around the 6th of each month, SUI tends to start an upward trend. The logic behind this is that the airdrops unlocked on the 1st of each month need to be bought by someone. At that time, most people expect a decline and continue to short, creating a buying opportunity. Before around the 6th, the daily chart is in a downward trend. Additionally, SUI's current daily chart shows a parabolic uptrend. Compared to a gradual uptrend, this indicates fewer buyers, so be cautious about going long. In a previous post, I mentioned shorting near the new high around 4.9, but I missed that opportunity due to not monitoring the market. I haven't entered a position since then because there hasn't been a suitable opportunity.
On the hourly chart, you can go long with BTC. Enter around 4.34 with a stop-loss at the previous low. Don't open a position without a stop-loss; it's a trader's basic discipline.
4. GRASS
I suggested entering a small position at around 3.6 a week ago for long-term holding. For more cautious traders, you can enter around 1.9. My current view remains unchanged, but there are no suitable entry opportunities now. The funding rate is settled every 4 hours, and the annualized rate is currently 30%. It previously reached 120%, so it's likely to be both profitable and sustainable.
On the hourly chart, you can still go long while observing BTC's trend. Use a stop-loss at the previous low.
Similar to SUI, on the hourly chart, I've already entered a long position for INJ at 24.2. I'm waiting for an opportunity for AAVE. Both positions have stop-losses at the previous lows. A more cautious approach would be to chase after breaking the previous high, so only enter a small position.
6. USUAL
It has shown signs of weakness, and it's unlikely to reach a new high in the short term. I plan to exit my position. Although it's a value coin, it's still essentially earning interest in advance. Moreover, it has already increased by about 10 times from the bottom. I previously suggested re-entering around 0.6 when it pulled back, and it has nearly doubled now. On the 15-minute chart, I will exit decisively if it breaks below 0.96. I'll re-enter later depending on the situation.
I will be releasing an article on CEX and DEX platform tokens in the future to help everyone gradually become wealthier.