Take a look at the #BTC☀ market over the weekend, and share my thoughts on this "entertainment" short order.

Current BTC trend:

Currently, BTC has completely stood firm on the upper track of the daily line and maintained a small fluctuation. At the same time, it has also broken through the daily MA50 resistance level near 60,100.

Of course, it is currently in the low liquidity stage of the weekend, and the fluctuation range at this time may not be stable enough.

My thoughts:

In the afternoon, a friend asked me where to put the stop loss. In fact, I didn't think about it at the time.

In fact, the views of last week were basically to stand firm on the upper track of the daily line, and then continue to see 63,000 upwards. This 60,100 short order is also entertainment. There was no breakthrough before going to bed last night, so I posted a message saying that it would be a fuel. Sure enough, I saw it successfully connected in the morning, and 60,000 was successfully broken through.

At present, this order does not plan to stop profit for the time being. The position itself is not large, and the profit and loss are not much. At present, I will temporarily stop loss at the position of the small previous high of the daily line, near 61,650.

If the price continues to rebound to this position, it means that there is still momentum for the price to rise. I will see 62,800 or even 63,000 above.

Will I continue to open short positions in the future?

The key is to look at the performance on Monday. The current bullish sentiment in the market is still betting on the possibility of a 50 basis point interest rate cut at the interest rate meeting next week. We have to wait and see whether there are other comments or data to support a 50 basis point interest rate cut from the weekend to next week.

Also pay attention to the sentiment from the early morning of the weekend to Monday. If the probability of a 50 basis point interest rate cut for the first time is not greatly increased, then I may place a short order again at a high level for testing.

Note: Currently around 63,000-64,000, the upper resistance level of the daily and weekly lines, MA120 MA200 are all at this position, so it is very critical for the price to break through this position.

I also need to remind you that I am not a die-hard bull or die-short. The main reason for the high position is that I find that the recent market momentum is not sufficient. At the same time, I see that the funds deposited in the market are accumulating, but there is indeed no large-scale buying transaction, so I try to test it by shorting.

If the market wasn't so cold, I wouldn't be so bored as to open a contract

😅