$BTC
I haven’t written any analysis for a week.
Bitcoin has been really strong this week, with a sharp rise at the beginning of the week.
A positive line changes the three views, whether it is the actual profit of the holder or the panic index reflecting the emotion, it all changes from bear to bull.
It has been almost a week, and the market has been trading sideways after a sharp rise.
The daily line is rubbing against the Bollinger upper track; the 4h is horizontal outside the track; the 1h is already crossing the track; the short-term 15m Bollinger has already closed and moved in a narrow range.
It was too early to close the position last time. Fortunately, only a small part of the position was closed. It doesn't matter.
Over the weekend, the market price increased by 0.3 times more orders. I placed an order at 3.3w.
My mentality has always been very calm, with no urge to chase highs or the annoyance of being short. It's very peaceful.
In the past, if I saw the market rising, I would have been unable to control myself and place an order in a hurry. Even a few weeks ago, there was a time to open a position chasing highs.
This time, the mentality is very stable. You must wait until there is a correction, a low position, or a safe position before taking a position.
Next script:
Script 1: Continue to rise again, to 3.6-3.8w. At that time, part of the position can be closed.
Script 2: If the callback falls below 3.2w, you can also take part of the profit.
Script 3: End the rise and return to the bear market. Basically unlikely to happen.
Of course, I hope I can follow script 1, which is a very likely move at present. After all, the U.S. stock market has been so miserable this week, but the currency circle is prosperous, and the strength is likely to continue. Furthermore, expectations for spot ETFs are still there and attracting much attention, which can continue to support the upward trend of the currency market.
I saw the news about SBF every day this week, and also talked about FTX selling coins to repay investors, and whether FTX would open up again. It is indeed a good time to choose to sell coins under this market condition. Even if a powerful seller appears, it will not have an impact on the market, and many people may not even care about it. When a bull market comes, everything that is bad is good. When a bear market comes, all good things are bad.
But, remember, don’t get too carried away. You will have to suffer from the top.
