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Classic script of the previous bull trap, seasoned investors all understand
1. I think today's sudden drop is just a prelude to a storm. Many indicators for BTC are approaching the top, and this breakout above the previous high should have soared, but the result was an instant flash crash, clearly showing that the market makers are misleading the bulls. So what should we do now?
2. Currently, it seems that BTC is not far from a significant correction. As shown in the chart, once this upward trendline breaks, Bitcoin will fall very quickly, and the correction will not be small. It has already risen for a month, with an increase of nearly 25%.
3. The only belief for the bulls now is the ceasefire between the US and Iran. They don't want to exit the market, but most of the good news from the ceasefire has already been priced in by the market. The recent rise over the past few weeks was pre-emptively pricing in the good news. Once there is a real ceasefire, it might cause a slight rally, but then the good news will be exhausted, and a large correction will begin. The saying "buy the rumor, sell the news" applies here.
4. My personal strategy is to go short on rallies, placing short orders near the previous high of around 79,000, and also at the next resistance of 81,000. It may not reach these levels, but being prepared is better than being caught off guard. We should fully respect potential positives like the US-Iran ceasefire; a correction is only a matter of time. To be conservative, even if the bull market truly arrives, after a 25% rise, it will need to retrace before going higher.
5. So, Shuqin last night advised everyone to place short orders, placing shorts near the previous high of 79,000, which everyone saw. Then, as shown in the chart, I also placed a 100,000 USD short order, and overnight it made a big profit. Therefore, opportunities always favor those who are prepared. Whether long-term or short-term, we operate daily~