The more shorts there are, the more the market rises; it will only drop after the shorts are completely liquidated!
Left-side trading means constantly being trapped. After a big bullish candle, it's hard to see an immediate pullback; I need to change my mindset.
Recently, I've noticed a pattern: when there are a lot of people shorting in the market, the price tends to rise. Why? Because when shorts are forced to liquidate, they have to buy back to close their positions, which creates new buying pressure and pushes the price up. In short, if the shorts aren't completely wiped out, the market simply won't drop.
In the past, I loved to engage in left-side trading, but what happened? I was either trapped or on the way to being trapped. For example, this time, I was fixated on shorting BTC, but the big bullish candles kept pushing up without any pullbacks. In contrast, those who were long on altcoins were making money just by chasing a rise; the comparison is too painful.
Now I need to face reality:
Don't go against the trend: if BTC really breaks through $112,000, altcoins will absolutely explode. If you stubbornly hold onto shorts at this point, what does that say about your judgment?
Change strategy: either look for key support levels to go long during pullbacks, or just watch patiently. For example, entering when BTC pulls back to a significant price level is much safer than blindly shorting.
Stick with strong coins: recently, altcoins have clearly been outperforming BTC, so picking a few with good fundamentals and going long mindlessly might be better than messing with BTC.
In summary: the market right now is "as long as the shorts are alive, the upward momentum won't stop." Don't think you can accurately time the top; be honest and go with the trend, making money where you can, and stop thinking about "picking up cheap" shorts.
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