Wednesday Summary for Live Trading on Week 7.9
Looking back at today's market, Bitcoin showed an upward trend in the evening, once touching the 109800 level, but several attempts to break through the 11 mark were strongly suppressed. With multiple failures to break through, it was clear that the strength was still insufficient. Subsequently, it returned to around 108400, entering a phase of range-bound oscillation. In the evening, the Federal Reserve's announcement led to another wave of upward movement, but the strength was still not enough, making it quite challenging to break through the upper resistance level.
During the day, we firmly believed in going long, and the market indeed performed as predicted, providing us with two opportunities to enter short positions, all perfectly executed!
Currently, we don't need many setups; accuracy is very important. When we are unsure, we will choose to stay out and observe.
In the early morning, it is recommended to mainly focus on high shorts. If this wave cannot break through in the evening, we will still face a plunge. It is expected that the market will move around 4 to 5 AM. Those holding short positions should be patient and maintain proper stop-losses!
Early Morning Trading Suggestions
Bitcoin around 109800 long, target around 1082
