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With the new year approaching, where do you think Bitcoin will go next? Drop your prediction for this week's $BTC closing price in the comments of this post 👇 🎁The top 3 closest predictions will win 300 USDC, 150 USDC, and 50 USDC. Jump in and share your prediction now! *Campaign Period: 2024-12-30 07:00 to 2025-01-05 20:00 (UTC) ‼️Ensure you have updated your app to at least version 2.92. Also, make sure the "Also Repost" box is checked when replying to be eligible for entry.
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Are you going to give insights on BTC again later?
卢姥爷
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Bullish
Huh? Did I wake up to make a fortune?
I almost forgot that my concubine still had such a low long position. The big coin was also a low position that I forgot to cancel the order earlier. Fortunately, I had a stop loss for the 100,000. This really woke me up! The lowest point was placed at $BTC $ETH .
Are you going to share technical analysis for BTC later or tomorrow?
卢姥爷
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The big coin has broken through 100,000, and the sentiment is here. More than 95% of altcoins have not risen and have all been drained. If the big coin drops a little, all of these will crash badly. Be careful of a pullback. When chasing altcoins, make sure to set stop losses!
You can check the long position at 67,164,667,946 around 100,000; it shouldn’t break so easily. A stop loss of about 1,000 is fine, and take profit at 2,000-4,500 points, with a risk-reward ratio of over 1:2. For shorting, I suggest around 105,000, with a stop loss of about 1,000-1,500 points and take profit at 2,000-4,500 points. Both of these positions have a decent risk-reward ratio.
The position of 76,533,778,537 was stopped out at cost. I didn't exit the morning move of 100 points. I’m just afraid of a sudden rebound, so shorting around 4,000 is more conservative. In the short term, you can try 3,900 with a stop loss of 30-40 points and take profit of 60-100 points or more. I won’t try long positions for Ethereum at this level.
Regardless of whether it’s a bull or bear market, if the risk-reward ratio is favorable, any position can be taken. A short-term risk-reward ratio of over 1:2 is good, while long-term positions should be at least 1:5. Currently, it seems my long position of 50,000 was exited too early. The long-term target is 100,000, but I didn’t hold on to it, wanting to catch a pullback.
BTC keeps showing incredible strength. Congratulations to those who are making good profits!
I'm still out of the market for a few weeks now. At this point, it doesn’t matter if it reaches $98k, $99k, or if it goes above $100k. The local top could occur at any moment, and this movement could be fully retraced. Some of the reasons why I'm still being cautious:
-Sentiment is extremely bullish here. Retail is piling in massively, aping into memecoins. The memecoin rally feels overextended, an
I just set an entry earlier at 94800 and my final TP is around 91600. I moved the SL to 94000 when the price goes below 93500. It hit my SL but I'm still in profit.
Remember the market may reverse anytime. The market makers are cruel. They want the retails to be liquidated. They don't want us to win.
Gaining 800 points in trading from maximum leverage of $BTC is good enough. Probably, the best way to wealth is to accumulate it. You can be the few folks who can win that 100x, 1000x, and even over 10000x (Yes, this can happen if you are trading Solana meme coins).
I think it's still better to have accumulated wins than be that one time big time winner folk. It will likely teach us discipline.