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Shu Qin $BTC #股票交易挑战最高赢17000U
A sharp decline, perhaps unavoidable?
Did you see it? The S&P 500, which is closely related to the crypto market trend, has been closing higher for 8 consecutive weeks! Not unprecedented, but extremely rare. Once it pulls back, will Bitcoin hit 60k?
1. Overall, BTC is very weak compared to the US stock market. When US stocks surge, BTC rises slightly; when US stocks stagnate, BTC falls. If the US stock market pulls back, Shu Qin really doesn’t want to imagine what will happen in the crypto world.
2. So everyone needs to pay attention to this. The US stock market has become dangerously crazy. I’m not saying it will crash, but a healthy correction is definitely coming, just a matter of time. When that happens, Bitcoin’s decline will be our opportunity to buy the dip. Don’t rush; a bottom will definitely come.
3. After discussing the big trend, let’s look at the short-term market. Bitcoin faced resistance at the previous high of 78k and pulled back, which is very normal. We all have short positions. But because there is still a possibility of successful peace talks between the US and Iran, there’s a chance for a sharp rally.
4. So, you must set a short position at the major resistance of 79k. When the price hits, it’s bound to fall. It depends on whether the US and Iran can bring some good news to give us a chance to get in. Of course, you can also build a position near 78k, entering in stages. Ultimately, the price will come down.
5. Personally, I prefer to go short on rallies because the current rebound is just a natural correction after a big drop. Short on rallies as shown in the chart. As we discussed yesterday in the program and article, we suggested shorting near 78k. Last night, BTC really started to decline from around 77.9k. Congrats to those who got in early!
6. We can also short crude oil on rallies, at 94, 99, and 104. Use 1x leverage for long-term positions. Enter as many as possible; eventually, the price will come down to eat the profits. Take action aggressively whenever there’s an opportunity!