June 16 Night Market Analysis of BTC
U.S. Stock Market Opens with a Surge 📈
BTC's latest resistance level is 107500~108600, facing obstacles 📉. We can observe the breakthrough situation to decide whether to take profits on long positions or reverse to short positions.
BTC long position is currently up 4000 points, ETH long position is up 200 points. Should we take profits on long positions and reverse to short?
For BTC, we publicly suggested going long at 102800, and I personally entered around 103500, with a floating profit of 4000 points. The trades shared in the live room have also seen a floating profit of 3000 points.
ETH also entered long at 2448, with a profit of 200 points.
Looking at the market, BTC has shown a high-level consolidation pattern. Since the long position is already in profit, we can continue to hold and wait.
However, there is a resistance level at 107700 📉 which we should observe. If it cannot break through, we can enter short positions to lock in profits from long positions.
This is advanced trading knowledge; in a situation where long positions are in profit, opening short positions at resistance levels allows you to hold both long and short positions, lock in profits, and avoid losses while aiming for profits from short positions.
