In yesterday's article (Chicken Rib Market, every day before July 22 to August 1 is a torment!), I pointed out that Bitcoin had the potential to reach a historical new high, and today Bitcoin indeed achieved a historical new high!
Bitcoin has reached a historical new high, can it go even higher?
Different cryptocurrencies have completely different trends. Many people see that I shorted AAVE near the highest point of 306.69 and think I am bearish on all coins, which is frankly ridiculous.
Did you not see that I advised fans to secure most of their short positions at noon last night?
Many people stubbornly hold onto their contracts when they're at a loss. In reality, you should stop-loss when necessary, and re-enter at a better position. When you re-enter, as long as the position size is the same, that's all that matters! Focus only on position size! Position size! Position size! Not on margin amounts. If you are fully leveraged, the margin amount when you re-enter will definitely decrease, but after re-entering, if you slightly increase your leverage while keeping the position size consistent, then you actually have no loss, and you don't need to hold onto losing trades. Changing to a better position can actually benefit you greatly in future profits (provided you don't use too high leverage when opening the trade).
Last night I went long on Bitcoin and WIF! WIF had a maximum profit of 12%, outperforming most cryptocurrencies. So do you think I am bullish or bearish?
If you don't understand wave trends, don't short randomly.
Bitcoin has two possible trends, one of which is higher than the peak mentioned in yesterday's article (Chicken Rib Market, every day before July 22 to August 1 is a torment!).
Ethereum has three trends, one of which rebounds not exceeding 2820.36, while the other two allow for a significant increase beyond 2820.36! The rebound of Ethereum after 2111.89 is on the same level as the rebound from 1385.05 to 2879.22! Everyone must pay attention!
The upper track support of the central axis in the theory of waves for Ethereum is 2605.
I have already posted the specific number wave method in (), and I will track Bitcoin and Ethereum's wave patterns in real-time in ().
Teaching someone to fish is better than giving them fish. Friends not in () should judge the peak position and timing themselves according to the article mentioned this morning (Important Ideas for Judging Bitcoin's Rise to Its Peak). The method has been provided; you need to think critically.
