Last night, I suggested to short at 69700 and cover at 70300. Today, the highest point also successfully reached 70395, which is basically consistent with the cover point I predicted. After rising to 70395, it began a slow decline for five hours and the lowest point fell to 68881. It is currently fluctuating around 69200. I am not optimistic about the subsequent trend. There is a high probability that it will continue to fall. I personally think that today's rise is to lure more. At the point of 70,000, the funds are locked. The brothers who follow the short position must be careful not to be greedy, be optimistic about their own profits, and if you want to hold for a long time, you must bring protection to prevent profit withdrawal!
According to the current trend of Bitcoin, the price quickly pulled back after breaking through 70,300, which is very similar to what I said about false breakthroughs to lure more buyers. Once the 70,000 mark is reached, many longs can't help but chase more, and then it has been slowly falling, so those who entered the market at 70,000 are reluctant to cut their losses. This trend is basically the same as the point I mentioned. After the layout at 69,700, the 70,300 position is just the highest point to fill the position, and then the price drops rapidly, and the profit of the brothers who follow up is almost more than 1,000 points.
At present, Bitcoin has pulled back to 69,200. Next, I am more optimistic about shorting. The specific operation point is still shorting at highs. You can operate it again according to the order issued last night, shorting in the 69,500-69,800 range, and filling the position to 70,500. As for why there is a position to fill, this is also for our own consideration, admitting our ordinary, and giving ourselves a chance to make up for the mistakes. As for the stop profit point, the short-term stop profit is 67,500, and the long-term stop profit point is 63,500.
