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Continuing from the previous message, May Day is indeed my May Day calamity. Since being trapped on May 1st until yesterday, I finally managed to free myself, taking a deep breath. To summarize, since I started trading on April 9th, I deposited $500, made 39 trades, with a 100% win rate. So far, after deducting fees, the net profit is $404, with an 80% return, which is pretty decent.
Without further ado, starting today, I will continue to send daily Bitcoin market analysis:
After the market dropped to 742 on Saturday and Sunday, it then rebounded, rising to 775. This morning, it pulled back to around 76, but did not break below the 76 support line. It then rebounded again above 77, currently around 771, confirming this rebound is effective.
On Saturday, the market plunged sharply, with many short positions being liquidated or stopped out at this level. The stop-loss for most shorts was around 74-75. The purpose of this decline has been achieved, and then, riding on the news about Donald Trump, there was a violent rebound and surge.
First, confirm that the rebound is valid. Second, on the 1-hour, 4-hour, and daily charts, the MACD is showing an upward trend, but we must not forget the large number of long and short positions trapped between 775-785 and 79-80K, so there is still heavy resistance above.
Trade suggestions:
Conservative order: Buy around 765, take profit at 775-78, stop loss at 76
Aggressive order: Short around 78, take profit at 768-758, stop loss at 785