November 13, 2024

Every time there is a frenzy, there will be a pullback. What is difficult to grasp is that it is difficult to judge the crazy high point, because in a real bull market, even if it is a pullback, the price will not return to the previous low range, otherwise it will not conform to the basic logic that the price is raised after the influx of funds in the bull market. Conversely, the pullback price is also a basis for judging whether the bull market will continue. At present, the price of Bitcoin has only fallen from nearly 90,000 to 85,000, which means that the upward trend has not ended. I think the bull market is still there.

The bull market has been plunging. Yesterday's market can only be regarded as a small retracement, but it is obvious that for doge, many contract players have been liquidated. In the next market, there is a high probability that it will continue to rise after adjustment. The possibility of a sharp drop in the big cake is not great. It is difficult to go back in the short term after breaking through 80,000, so 80,000-75,000 is a very strong support band. Of course, because this wave of bull market has just been confirmed, it is not 100% certain that it will go bullish, but whether it will fall below 75,000 in the subsequent "bull market crash" market can be regarded as a signal that the bull market has not come.

Let me talk about a few things I did yesterday when market sentiment was particularly crazy. Everyone has different operating habits. I hope it will help everyone deal with similar market conditions. Because the bull market trend is certain, there will be a lot of fomo in the future.

First, reduce your position. Those who have read my articles should have noticed that my advice a few days ago was to hold on and not be afraid of heights, but yesterday I reminded you to reduce your position, mainly because of the market frenzy signals such as the soaring fees. However, since my altcoin configuration did not increase much, I sold some Ethereum 3300 Calls, and then BNB made some waves at 650, and I have already bought it back at 610. As for the logic of judging the market high point, I will slowly talk about it in subsequent articles.

In addition, a sharp drop in a bull market will generally rebound, and the probability of being caught is small. Based on this logic, I watched the market yesterday when I felt that it was about to plummet. There was a wave of retracement in the evening, and then it began to rebound. The short-term low point was confirmed, so I made two cakes. In addition, the transaction cost in the bull market is really high. I spent 150 US dollars in fees for contracts, and 300 US dollars for spot. Just think about it, 1,000 RMB can be used for two major health care! You can read my article about fees on the homepage, (How exaggerated are the transaction fees) The frequency of transactions in the bull market is high, which can still help you save a lot.

Thank you for your attention. Everyone is welcome to discuss in the comment section and improve bull market trading strategies together.