Article Update
I haven't continued to engage in swing trading or take profits in the past few days. The previous market has always fluctuated, making me hesitant to hold for the long term. My trades and profit-taking have revolved around key support and resistance levels.
However, regarding the current trend, I believe the structure has changed from a previous pattern of oscillating downwards - oscillation - unidirectional rise, so I think swing trading will cause me to lose the low-priced chips that I picked up at the bottom with blood and tears.
In trading, we shouldn't predict the market. Anyone who tries to predict the market, I think that person is delusional. What we need to do is trade according to the existing trend; we follow how the candlestick moves.
Some may argue that the market makers can be drawn from the candlesticks, which is entirely possible for assets with poor liquidity.
Do you really want to buy assets with poor liquidity?
Institutions are also in a game of strategy; the reason there are oscillating continuations is that bullish and bearish institutions will eventually reach an agreement on the direction.
The market is merely a cycle of rise - consolidation - fall, one cycle after another.
As for me at the moment, I need to change my original trading mindset from swing trading to trend trading until the end of a trend or a large-scale consolidation.
I never expect to sell at the highest point; I only hope to profit and exit before the end of a trend.
Additionally, regarding sectors, the depin defi sector has taken off successively, with a large influx of capital driving a very strong rally.
Everyone should independently investigate whether there are worthwhile investment targets in other sectors; I'm not making recommendations here because even if I do, you probably won't buy.
Now, if the chips rise by 20% or 30%, their cost-effectiveness is still very favorable for profit and loss. When others break even, you may have already profited by 30% or 40%.
As for Ethereum, I just want to say, if you didn't buy Ethereum at 2100, and you didn't buy it at 2400, do you really have to wait until 3000 to go all in?
In spot trading, add to your positions on dips. A corrective move in the structure of the contract upwards is your entry point. Some people see 2100 and think it will drop to 1500, then this market is not suitable for you.
Having survived the harsh winter, how far can spring be?
Having endured a prolonged six-month downward oscillation, how far can the bull market's eruption be?
The market always sprouts in despair and erupts in doubt.
Wishing everyone to become rich in 2024.