In-depth analysis of the bottom-fishing strategy in the cryptocurrency circle: Waiting for the opportunity under panic
The market panicked and plunged, the price of the currency plummeted, the Ethereum chain was under great pressure to clear, and the gas fee soared. After falling for four consecutive days, BTC finally got a brief respite at 53K. Is the time to bottom out? No! To stop the decline, it is necessary to bottom out with a single needle like on July 5, and return to 57K to show a turnaround, which is very difficult.
At that time, the rebound was rapid, because the market sentiment was still stable, bullish, and buy orders gathered into a trend. Today, the K slope dropped sharply, deserters were everywhere, and the rebound was sold off. Especially last night, it dived from the 61K high platform, and the short contract stop loss and liquidation became the main force of the short side, all of which were passive selling, and the spot bulls were still struggling.
"Bulls don't die, and bears don't stop", to stop the decline, spot holders need to panic sell. Bottom-fishing should wait and see. If the reversal of July 5 can be staged today, forming a W bottom, MACD bottom divergence, and perfect signals appear, then you can decisively open more and make a steady profit. However, the captain is skeptical about such a perfect opportunity, so he continues to be bearish and wait for the opportunity.
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