Hello everyone, I am Panda Brother. What I am discussing today is quite important, including bottom buying logic.
This is related to everyone's personal interests; please observe it yourself. If you think it makes sense, please share.
Ethereum has currently formed a converging triangle on the 4-hour chart, and it is about to reach a turning point.
Along the way, you can clearly see that the positions below are all void; how should we act in such a market?
First, we need to consider Bitcoin. Bitcoin's daily chart shows a top and a low, and there are market makers protecting the price; as the old saying goes, 'horizontal market must drop.'
What does this sentence mean? It means that in this range of sideways movement, those who should have entered have already entered. If the market makers push the price up to make everyone money, that’s just crazy.
The saying 'horizontal market must drop' comes from this, and speaking of Ethereum, you know if Bitcoin drops, it definitely means shorting; just short at highs, no issues.
The key point is here.
You see the converging triangle, right? In this chart, I clearly marked the positions of various supports and resistances. The area in red is where to short, and the area in green is where to long. There’s no need to discuss the pattern; these positions are all profitable entries. Just go in and take your profit, decide how much to take based on your preference. These positions are all where entering will yield profit. If you don’t believe me, just observe it yourself; when it reaches that resistance level, it will face some resistance and drop a bit—that’s profit. Always set a stop-loss when opening a position; I've said it a thousand eight hundred times. Ethereum is bearish; don’t say I said it as if it didn’t matter. There are still people saying indicators are useless; how about that? Indicators can make entry points more precise. The order I sent yesterday had a 0.3 error in Ethereum. Can you reach such precision?
Bottom buying logic, I will tell everyone how to buy the bottom.
When buying the bottom in spot, it should be done in batches. To put it bluntly, it’s Martingale. When I mention this, I get so irritated. Those who oppose Martingale make me laugh. If you increase your position in contracts, it’s Martingale; what about in spot? Are you going all in? There’s no difference between the two. If you use a different term for batch entry, does it become high-end? Is it no longer Martingale?
Choosing the right currency for bottom buying is key. If you pick the right currency, you've already won 30%. The remaining 60% is about position management and accurately finding strong support levels.
What does it mean to choose the right currency? To put it simply, if you want to buy for bottom accumulation, you should buy currencies that can be opened in currency mode. Do not buy those that cannot. Then, at the bottom or relative bottom, look for strong support, at least above 4H. Manage your position well when entering the market. Even if it’s wrong, you can average down on the price. Even if you make a mistake on the last entry, it's okay; just wait and open a long position at a lower support level with 1X or 2X in currency mode. As long as you hold on, you won't lose money in spot trading. Currencies in currency mode give you an extra chance for error. If you buy those trash altcoins, it’ll be really painful. This is my method for bottom buying. I've never lost money in spot trading; it's just that there are fewer opportunities. If you agree, please share to help more people lose less. They will thank you for sharing.
