Bitcoin failed to hit 74,000 and began to fall. 400,000 was cashed out at around 65,000, not only recovering the cost and taking part of the profit, but also the platform still had around 78,000.
In fact, I judged that this callback would be a large one, at least around 55,000, but I was rational and did not short. Never go against the trend in the face of the big trend. Remember! This is a taboo!
But when it pulled back to around 61,000, I couldn't help but go long, a 50% position, and cleared 40,000. It kept falling after that. At first I didn't care, thinking it would come back soon, but when it reached around 55,000, I got really panicked, and then to 52,000. I was unwilling to lose the profits bit by bit, and had already been cut in half. In order to save some blood, I couldn't help but close half of my position, which was around 25%.
Then there was a big plunge to 48,000, a loss of 500,000, but I analyzed and believed that it would rise again. Then it quickly pulled back to around 57,000, and I covered my position. Then it fell back to 52,000...
I started to panic again. The opening price was 60,000, and the price dropped right after I covered the position, which was a big blow to my confidence. By then, the whole August would basically be a loss.
I adjusted my mood and re-analyzed the market. I still think that my initial analysis was correct. The bottom basically formed a W, so I decisively covered my position at 53,000. In September, there was an interest rate cut, and the price was pulled up. It is currently at 64,000, which has recovered a lot of losses. Basically, I lost 10% compared to the beginning of the decline.
I am very glad for this pullback, and I have summarized two experiences: First, you must firmly believe in the strategy after analyzing it, and second, you must control your desires. A qualified trader has execution ability, and you will never enter the market until you reach the right point.
If I had not entered the market at 61,000 at that time, and had strictly entered the market at 55,000, it would not matter even if it fell to 48,000, and I could have added to my position at the lowest point. Unfortunately, I did not control myself and entered the market too early, which led to my confusion, wrong selling, and wrong adding to my position. But in the end, I still saved some money.
The bull market is coming soon. Many people died before dawn. I have died before. Everyone must keep their eyes open, conserve blood, and welcome the bull market.
In my personal opinion, it will be more than 80,000 by the end of this year, and more than 100,000 in May next year. After July and August, no matter how many points, you have to leave the market, otherwise you will be a韭菜, right?
