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Crude oil surging, is it about to top out? Bitcoin trading opportunities! It plummeted 3,000 points yesterday, and can we short the rebound today? Come and take a look.
1. BTC has now entered a correction trend, with good support around 75k in the short term, because this is a previous consolidation zone. It dropped from 79.5k to here with a small rebound, which is not surprising at all. So where can we re-enter a short position?
2. Currently, resistance above BTC is near 76,700 and 77,800. As it approaches, you can gradually position yourself. Or, if you prefer safety, wait for the US-Iran talks again; once this news comes out, BTC will definitely rally, and entering at high levels then would be safer.
3. Speaking of US-Iran talks, crude oil has now risen to around 110, gradually approaching the previous high near 120, and the K-line is nearing strong resistance. Besides the K-line, Trump is also about to take action. Because when oil prices rise, Trump will dump the market, like the previous holiday news saying an agreement with Iran was imminent, oil prices immediately plunged, keeping oil within an acceptable range.
4. I think crude oil is suitable for medium- to long-term positioning, with low leverage for long-term strategies. Before important news from the talks, there won't be much profit, but once the talks are completed, it could lead to a 20% drop, and patience will pay off.
5. As for Bitcoin trading, it’s very quick and effective. As shown in the chart, Shuqin suggested shorting when Bitcoin rebounded yesterday, so I shorted 200k USDT directly, and also shorted ETH for 10 WU. During the Federal Reserve meeting early morning, BTC sharply plummeted, and the profit I made that night could last me half a year.
6. Previously, we shorted BTC at around 79k, and then took profit at 76.5k. Both trades were very successful. Don’t always expect to get rich in one shot, because when the price drops, it won’t go straight down; it will fluctuate repeatedly, and we can earn more in the process. Opening trades every day~