On the morning of December 21st, Beijing time 12:00, the current price of BTC is 97,400. If you're still holding a long position, don't panic and sell prematurely. Remember, capital is greedy, and trends in the market don't change easily. My large position in TRX has mostly recovered, and I plan to take partial profits after BTC rises further over the weekend. Of course, this is just my hope, and it may not happen. It doesn't matter how the market moves; it's crucial to know how to profit regardless.
There are two scenarios:
1. BTC continues to rise, which is what I hope for.
2. It encounters resistance at 98,000 and falls back to 95,000.
For scenario 1: If BTC rises, hold your long position and wait to take profits at 99,000 or 100,000. At that time, altcoins may have reached the top on the 1-hour chart, providing an opportunity to open a short position. Additionally, BTC would also be at the 1-hour top, allowing you to profit from a correction.
In summary: Continue holding your long position and avoid chasing the market higher. Wait for a rally to open a short position. Don't open a short position at the current price because there's limited downside potential and a small profit-loss ratio. If BTC falls back to 95,000, it could be considered a trend reversal and a bottom for the bulls. Be patient and let your profits run. It would be a shame to exit early after successfully buying the dip twice. Of course, I will set a 2% stop loss to guard against unexpected market movements.
$BTC
