Cryptocurrency is rising sharply today, how should we trade it? Should we follow or go against it?
You have observed that the crypto market rebounded today, but in fact silver rose even more sharply. Looking back over the past two or three months, you will find that this trend is not uncommon. This is the fifth time. I must say that this trend is very suspicious at this stage, because other markets have basically not changed. The stock market is stable, the bond market is also stable, and the foreign exchange market is the same. Most markets are waiting for the US stock market to open, only silver is rising, and it has also pulled gold and cryptocurrencies to rise with it. As I said just now, this trend has occurred four times, and all ended in a big drop, and the bulls were hurt badly. The reason why the market fell is that there is no substantial information to support the rise, so we must be very careful. Don't rush to go long on silver, thinking that the bull market is coming. I think the best trading strategy at the moment, and I also said this to my internal members today, is not to trade silver. Silver has obviously been squeezed. When we see silver starting to rise, we should take advantage of the trend to go long on gold and cryptocurrencies, and make sure we can quickly exit when necessary. Similarly, if silver falls, short gold and cryptocurrencies. Because silver is the main driver right now, it has the potential to collapse quickly. So it is a good choice to trade cryptocurrencies now. If the silver rally continues, I hope to see a continuation in the US market and keep the gains for two or three consecutive days before I can start to believe that the bull market is coming.
