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How is the market condition lately? I haven't been closely following the market for a while, and I woke up earlier today and decided to check the market dynamics. To be honest, being away from trading for a while has brought a rare sense of ease.
My view remains unchanged at present. In the current market environment, shorting at high levels as the primary strategy is still a wise choice, and blindly chasing rallies is not recommended. We are in a market that is slowly declining but occasionally experiences sharp increases. In this downtrend, shorting near resistance levels may yield good returns. It is advisable to refer to trend lines to formulate trading strategies, but remember to set stop-loss orders to control risks.
The market seems to be targeting liquidity around $364. I expect the price may drop to around $334, and if it breaks this level, the $30-31 range may not be far off. The current main resistance level is around $4080.
For potential take-profit levels, you can follow the key price levels of 375, 364, 343, and 31 dollars. It is worth noting that the market is currently showing a slow downward trend, with relatively stable price movements. In this case, I want to remind everyone: do not attempt to catch the bottom or 'catch falling knives'. Patiently waiting for clearer signals to appear may be a safer strategy.
Overall, it is crucial to remain vigilant and patient in this slow declining market. Cautious operations and strict adherence to stop-loss strategies may be a wise choice to get through this period of market stagnation.