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Ridiculous! ZEC is at $640, can we short it? US stocks are soaring, Bitcoin's downward trend is beginning to show? Let's take a look.
1. First, let's talk about the big fool ZEC, which has already surged to $640. At the same time, the three hype coins ICP and FIL are also rising rapidly. These three big fools, collectively called the "Money Three Fantoms," give us another trading opportunity. So where can we short?
2. The safest short position for ZEC is near the previous high of around $700. Currently, it has reached $640, so we can consider shorting near $700, using 1x leverage, and avoid high leverage. Previously, when ZEC broke through the $410 resistance and then fell back to $410, we closed at the original price, waiting for another opportunity. Now that ZEC is approaching the next resistance at $700 again, I think it's a good chance; the decline afterward could be very fierce.
3. Similarly, ICP and FIL, which share the same concept as ZEC, are also catching up. There is some resistance around $4 for ICP, so we can open a small position first, then place a 5% position near the previous high of $4.7 to add on dips. The same applies to FIL. These coins are all driven by hype; once the hype passes, they will fall back to where they rose from.
4. As shown in the chart, we shorted them last year-end and held the position for several months, earning over 100,000 US dollars. This time, I plan to use 20-30% of my position to short them with 1x leverage. I'm not in a hurry; I will enter in batches, each time with 5% of the position, waiting weeks for the hype to fade. When retail investors chase the high and panic, the price will plummet sharply, but this takes time.
5. Similar to our crude oil short positions, which we re-entered at the end of April, many people scolded me during that period. But now, look again—haven't we made a lot of money? So, this kind of longer-term positioning requires patience. The price may continue to rise in the meantime, so it's crucial to enter in low leverage and in batches. Only by staying alive can we eventually profit.
6. Besides that, I have another 20-30% of my position allocated to Bitcoin. Previously, our short at 82,500 was closed at the previous high of 79.5k, with half of the position taken profit. Now, after a rebound as expected, I plan to short again near the minor resistance at 81,300 and close to the major resistance at 83k. We will do short-term swing trading, but I also want to hold a long-term position. Stay resilient under pressure, be patient with time, prove ourselves!