Friday, Afternoon Recommendations

There is no right or wrong in long and short trading; it’s about making the appropriate strategy at the right time. Many people find that their stop-loss orders are always triggered, simply because they haven’t grasped the correct position. Courage is about controlling fear, not about having no fear at all. You can lose everything, but you must not lose hope. You can have nothing, but you must not lack confidence.

From the 4-hour K-line chart, the K-line has formed a doji, which is often a signal that the market is about to change. The price is at a high level, so we need to be cautious of a sudden drop. Therefore, adopting a strategy of selling high and buying low, and shorting at highs will be more prudent.

From the 1-hour K-line of Bitcoin, the bullish momentum is gradually weakening. Although it has broken above the resistance level of the box in the short term, I personally feel that the strength of the bulls is insufficient, and there is a risk of a pullback. Therefore, the overall follow-up trend still mainly favors short positions at highs.

On Friday afternoon, it is recommended to short at 98800-98500, with a target of 97500-97000.