$BTC
Is the BTC rally about to begin?
Bitcoin stepped back on the trend line mentioned yesterday this morning. The downward trend line can be used to draw a double trend line zone. A reversal may occur here, with an increase of nearly 2%.
If the rebound continues, we can see the intensive trading area near 64700 and the red box area of 65734, and there is an opportunity to test resistance.
On the contrary, it will once again test the support zone of 62360~62862 downwards until the short volume is exhausted.
Position risk management
Generally, I will draw several positions in the trading strategy to make the use of funds more flexible, instead of ALL IN. Generally, after the mainstream currency plummets, you can choose to add positions in batches at the bottom. Assuming there are three support levels below, I will Choose 1:3:5 to increase the position, which is a pyramid method of increasing the position. This is why the rebound will become more violent as it reaches the bottom.
When it rises, positions will be reduced in batches at the upper resistance level. This is also the reason why the selling pressure becomes greater as it reaches the top, because the more people want to take profits, the faster it will fall.
Not setting a stop loss is a taboo in trading. A liquidation will result in the loss of all opportunities. It is better to survive in the market with a small loss.
The trading threshold of the contract is high, and turning on leverage will amplify your own operational errors, which is why a more precise entry point is needed.
Make good use of simulated trading, try and practice a lot, you can save a lot of tuition, and calculate your own positions and points. Beginners can also use Bitcoin spot and double leverage to practice, buy in batches if the price drops by 8~15%. Sell in batches after a big rise.
