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Yesterday, the stop-loss level of 61,800 given for Bitcoin was just barely held, and the two additional buys also hit exactly the mark. At 63,000, you can remove the added position.
Ethereum, that piece of junk—being this oversold, it already got stopped out.
On Friday’s futures liquidation, the main pain point on the 30th is at 60,380.
The bullish view remains unchanged, but the room lower is getting smaller and smaller.
The duration of the consolidation in the purple zone I mentioned earlier is unknown.
The trend is still the same—really nothing more than shaking things up during this range and annoying people.
What we need to do is stick to our original mindset and hold our own chips.
Don’t let it disgust you—don’t get thrown around by the “shake-out”—so everyone can respond by adjusting positions through adding and reducing.
In the short term, it may be hard for prices to rise, and it could also see a drop. But as I said—why not let this wave of short be eaten up, then look for an opportunity to catch longs.
For Bitcoin, go long near 61,200, add at 60,400, and defend at 60,000.
Previously, by adding and reducing, we used the same 61,200/60,400 levels to add positions.
Be a bit more patient and wait for the main upswing to pull the market up.
That thing got so annoying it made me angry—give me a long position.
For Ethereum, go long at 1,585; defend at 1,550.