Last night, BTC's two waves of long-term pull-ups were really exciting. This wave of obvious long-short stranglehold did wash away many players who opened short positions from 65,500.
Now we review yesterday's market. Starting at 4 pm on May 7, this wave of long-term pull-ups began to pull the index to 64,392. Then many people began to talk about shorting. As more contract players shorted, at 10:30 pm, a surprise was given to everyone. The market quickly rose from 63,000 to 64,320, directly rising by 1,320 points. This wave must have made many short orders unable to hold, and they were afraid that their contract orders would explode in one wave. Many contract players should have closed their positions in this wave of pull-ups. Those who can hold are also experienced friends with a strong gambling nature. After most of the positions were closed, the shorts completed their layout from 11 o'clock and began to fall and short regularly. I believe that many friends are like Lao Deng, watching his K-line trend and dare not open orders!
This morning, the index stopped falling at the support level of 62076. Lao Deng believes that this position will fluctuate in a range to see whether it can stand firm on today's support line. Lao Deng closed the short position on the upper order with a take-profit. The next strategy is as follows:
BTC: open short at 63300-63582; stop loss at 64331; take profit at 62076
(Start with small capital trial and error as usual, start adding positions when you make a profit of 1000 points, and don't follow this order if you don't accept losses)
The principle of technical analysis: Keep it simple, so simple that you don't need to use your brain, and don't be superstitious about complex technical analysis methods.
