This morning, BTC took advantage of the strong rebound of the Japanese and Korean stock markets and rushed to 57,000 again. It once touched 57,300, but unfortunately it still failed to hold and fell below 57,000. Looking back, I feel funny. Just a few days ago, when Bitcoin fell from 69,000 to 66,000, many people thought it was a dive and they could buy the bottom and try to rebound. Now 66,000 is simply out of reach. The market has become confusing, with good and bad news, as well as various emergencies such as elections, wars, government selling coins, Mentougou repayments, bankruptcy liquidation and debt repayments, hackers, etc., intertwined, making it difficult to choose.

I have multiple orders on hand, so my current operating strategy can be basically summarized in one sentence: continue to be bullish in the long term, and force myself to go short at highs in the short term to hedge against extreme risks. I don't want to make a profit for the time being, and safety comes first.

The first half of the sentence is easy to understand, and it is basically the view of most people, that is, the Bitcoin halving + ETF bull market has not really started yet. Looking at the situation where these ETF institutions and whales continue to swallow and hold BTC tightly, it feels that a sharp rise in BTC in the future should be a historical inevitability. However, this process may be long and painful, especially for retail investors who mainly hold altcoins. It is not easy to survive until today. Many mainstream altcoins have fallen by more than 70% even if they hold spot goods. If they have to repay loans, they can only cut their losses, and there are many cases where one or two times leveraged long contracts are crushed. The future bull market may be epic, but it is not easy to be alive to see that day.

After the opening of the U.S. stock market on Monday, the currency market saw a relatively strong rebound, but the situation has not been completely alleviated, the alarm has not been completely lifted, the rebound is not very strong, and it cannot even stand at 57,000, which is very worrying. Once there is large-scale negative news, it may once again cause a stampede in the panic-stricken market, and the market makers will take the opportunity to take advantage of the situation and reap the benefits.

Of course, in the currency market, the so-called too high and too low are all relative. Just like a few days ago, we thought 66,000 was not high, so should we go long or short at 57,000 now? Do you remember 49,000 at the weekend? Did you think it was high or low at that time? It’s really hard to decide.

Faced with this complex situation, my personal opinion is that if you are short, wait and see. If you already have spot or long orders, don't buy the bottom when the market falls back. Be careful not to catch the flying knife and increase the leverage pressure of your position. Instead, you should force yourself to open a short position to hedge the risk of the long orders on hand when the market rebounds and rises. This is really difficult because the current price does not seem to be high. After all, I wanted to buy the bottom at 66,000 last week. In the future, everyone says it will reach 100,000! Maybe it will be the end of the year! Haha. Who is right? I think it is better to focus on the present and try to keep wealth as much as possible at the critical moment. Safety first. What do you think? Welcome to quote and criticize!

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