The market situation in the cryptocurrency circle last night was just like the weather in summer. It would hail if it said it would, but it would not affect the arrival of the hot summer. This is the rule.
Due to the U.S. non-farm data exceeding expectations by 50%, the market fell rapidly, but judging from the market, the trend has not reversed.
The market is still running in the oscillation range and has not pulled back to the lower edge of the small oscillation range, which shows that the support position below is very strong.
Since the trend has not reversed, all that remains is to wait patiently. The pullback and consolidation are just to accumulate better strength. It’s that simple.
It is only a matter of time before Bitcoin breaks its all-time high of $74,000, and this time point will not be too far away.
Let me briefly explain here why, whether it is the Qianlong strategy learned online or the Yuelong strategy learned offline, these are practical strategies that have been tested in several bull and bear cycles in the cryptocurrency circle. They have always helped me to make long-term, stable and continuous profits in the cryptocurrency circle.
It is the support position and the pressure position. It is not as simple as some so-called technical analysis or orders. Draw a straight line at the high point to see the price is the pressure position, and draw a straight line at the low point to see the support position. If the pressure position is broken through, the price will continue to rise, and if the support position is broken through, the price will continue to fall.
So how do you tell whether it is a real breakthrough or a false breakthrough? Is it a lure to buy or a lure to sell?
Such analysis of the market is arbitrary, one-sided and not objective.
The result is that you are sometimes right and sometimes wrong, more often wrong than right, it is easy to make money when trading with a light position, but easy to lose a lot of money when trading with a heavy position, and so on.
So many people think that technical analysis is useless. Technical analysis is not useless, it’s just that you are useless.
To view the local market conditions in the context of the overall trend, there are pictures within the picture and outside the picture.
It’s just like the view from the first floor and the 30th floor. Neither can convince the other, and there is no right or wrong between them. It’s just a different dimension and angle.
Back to the topic just now, during the bull market, the support position formed by the concentrated trading area is very effective.
Because the exchange of chips is completed in the range of shock, especially when absorbing chips, the main force can only sell them step by step when the price is pulled high enough. These will be very clear in the middle and late stages of the bull market. We are afraid that we personally cannot understand the market trend, cannot execute the profit-taking strategy, and are swayed by our own greed, which leads to failure to escape the top in time. These are the actual situations we will face next.
During the bull market, pay less attention to some pressure points. In the bull market, all pressures are meant to be broken through. Don’t have the inherent thinking of the bear market, thinking that if it rises, it will definitely fall.
Just like in a bear market, rebounds are only for better declines, and all support levels are meant to be broken.
In a nutshell, it depends on your ability to understand the market trend, correct investment thinking and concepts, a good attitude, and effective strategies to ensure it.
Only those who possess these qualities can truly make a living in the cryptocurrency world.
