On March 31, $BTC 10.31 at 22:35, I went long. The market experienced a climax drop, breaking through the previous range, showing significant divergence, and moving far away from the 20-day EMA.

I went long at 71231, with a stop loss at 70599 and a take profit at 72270, with a risk-reward ratio of 1:2 and a win rate of 50%.

Long position logic: the price reached the previous resistance level of 70800, touched and reversed; the resistance level was effective. After the double bar reversal, a pullback occurred, and I went long at the high point 2. The market quickly rejected this, and I exited with a stop loss.

Why it failed: After the double bar reversal, the candlestick did not show a sustained pattern, indicating that the market might undergo a two-legged downward adjustment. The previous climax drop clearly showed no buying pressure, and the market subsequently formed a downward channel. #交易日记