Today, the dog dealer is really awesome, drawing the gate back and forth, long and short at the same time
I, the coin circle, pointed to the dark lamp as a solid evidence. I just said to reduce my position, and then I pulled it back directly.
Next time when I tell you to buy at the bottom, remember to sell immediately.
In fact, I am still quite conflicted. I only reduced my position by a small amount.
In fact, when I reduced my position, I was still quite nervous.
I am a bull who never reduces my position and shouts from the bull market to the bear market.
I want to criticize myself for reducing my position at this time.
But people always need to grow and seek change through continuous learning.
Even if you choose a wrong path
But wrong experiences can also become your valuable experience and pave the way for your future judgment
Let me talk about the reasons for reducing positions
The entire daily upward trend has lasted for half a year, and it has also risen a lot in the short term. Short-term holders have a need to settle down and feel safe.
The daily closing line has fallen below the 120-day line, and BTC's 4-hour, daily, and weekly MACD lines are all dead crosses at the same time.
From the entire history of BTC, the 120-day line rarely rubs back and forth. As a long-term trend, it is very effective and is only touched a few times a year. Since the trend has arrived, I will choose to reduce my position and wait and see.
Of course, as I said yesterday, I chose a more radical approach, which is to trade in waves.
Yesterday I also talked about the insurance method, which is that if the price falls, you should cover your position. The more it falls, the more you should cover. Of course, you should never cover your position in altcoins. You can choose between Bitcoin and CNY. Then, after it goes back up, you can choose to keep it or sell all the covered part. This is also a disguised way of doing wave trading.
Indicator analysis on June 7, 2023
Proportion of holdings longer than 1 year: 68.52% (less than 50% is considered a high-risk area)
Ahr999 Index: 0.59 (below 1.2 is the fixed investment area, below 0.45 is the bottom hunting area)
Bitcoin market capitalization share: 45.24%🔽
Fear and Greed Index: 53 (Close to 100 means high risk, below 10 means buying at a bargain price)
Bitcoin Rainbow Index: Green area - Accumulate (orange is high risk, dark blue is the bottom-hunting area)
Ethereum Rainbow Index: Green area - Accumulate (pink is high risk, dark blue is the bottom area)
PI distance crossover: parallel (very far, parallel, fast crossover, crossover (where the crossover is a bull market top))
RHODL ratio: 622 (above 50k is the top area, below 300 is the bottom area)
Jiang Zhuoer 60-day increase: -1.24% (greater than 80% means short-term bubble high risk)
RSI indicator: 48.94 (less than 45 enters the bottom-picking range, greater than 85 is the top area)
BTC retracement from the highest point: -61%
Fixed investment and fixed selling index: Fixed investment interval (fixed investment interval/holding interval/fixed selling interval)
4-hour Bitcoin candlestick trend: Upward trend (upward trend/downward trend)
1-day Bitcoin K-line trend: Downward trend (upward trend/downward trend)
Please indicate the source when forwarding: Big Rock Sugar Orange
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