Good afternoon everyone! After a nap, the market has once again surged significantly.
This round of market action has directly ended most short positions below the 85 price level.
After the shorts have been liquidated, how will the market move next? I believe everyone has an idea in mind.
The continuous upward trend has made investors reluctant to short, and many have turned to going long. However, it is essential to remain vigilant; blindly chasing the rise may lead to becoming a bag holder. It is advisable to wait for a minor pullback before making decisions.
I have closed my Bitcoin long positions and am temporarily saying goodbye to swing trading. Currently, I only hold Bitcoin spot and BNB. If Bitcoin can rise to the previous high, I will reduce my position by half (including BNB), and I will not take further action on the remaining portion.
Regardless of how the subsequent bull market unfolds, I will patiently wait for the bear market to arrive.
In the current market situation, the operational logic is quite clear. The recent tax increases have triggered a sharp drop, while news of reconciliation coupled with interest rate cut expectations has continuously driven the market upward.
Therefore, I have always advised everyone to go long on dips; trading with the trend is the way to seize profit opportunities, which is a reflection of the market's principle that "circumstances create heroes."
