$BTC #DOGE看涨情绪飙升
Yesterday, something upsetting happened over in Zhuhai, which is probably trending.
In the cryptocurrency world, we really have to face various changes every day. The K-line is like a roller coaster; one moment we’re up in the sky, and the next we’re down in the ground. Winning and losing are the norms, but what I want to say is, when trading contracts, never bet your life on it.
If you’ve been severely punished by the market these past couple of days or if you’ve faced liquidation, just take a moment to calm down. Life has its ups and downs; at least we still have electric bikes to ride, and we can still get by.
Take a look at BTC’s daily chart; it previously tried to dip down but quickly recovered. This trend feels like it’s intentionally created by the big players, making it hard to see any signs of a downturn. Whether institutions are quietly bottom-fishing or retail investors are just following trends is anyone's guess.
To be honest, I have a narrow perspective. At times like this, I don’t really recommend entering the market to go long. But if you really must, please set your stop-loss properly. The short-term support is around 85000. According to the MACD indicator, we are already in a high position of overbought, and logically speaking, the retail investors shouldn’t be entering the market.
The current trend seems more like it’s trying to attract large institutions and national teams. So, when it comes to altcoins, reducing positions at highs is a good choice. Don’t think about getting the last piece of meat; greed can lead to downfall.
From historical experience, every time the total market value of the cryptocurrency circle breaks 3 trillion, there will be a significant correction.
This time, BTC has risen so quickly that it has anticipated the gains for the next few months. I initially thought it would take until March to reach 85,000, but unexpectedly it arrived in just a week; what a slap in the face.
However, I was surprised that this bull market hasn’t reached its peak yet. But the high price is not beneficial for big players’ operations and institutional games, and everyone is worried about getting stuck at the top of the mountain.
Looking at the four-hour MACD, after the death cross, BTC has been consolidating at a high position. I’m not saying everyone should short, but at this price level, you could try a small short, with the stop-loss set near the previous high of 89940.
In this market, one won’t grow without experiencing big waves and some hits. Learning may not necessarily be useful, but not learning is definitely not an option. Greed is always the great enemy of us traders; everyone should take it easy.
Click on my profile to see me; I’ll be waiting for you in the circle.
