Don't rush to short!
$BTC Looking long-term at 130,000, ETH is first looking at 3,400. After BTC broke its historical high, the so-called resistance levels above are not worth considering at all, it surged all the way up, peaking at 117,000, this trend is simply outrageous!
I anticipated it would rise and have always been firmly bullish, but the intensity and scale of this rally completely exceeded my expectations. In just a few days, it shot up more than 10,000 points, a celebration for the bulls and a disaster for the bears... To be honest, I am also firmly bullish and believe it can break new highs, but thinking of capturing a short, I ended up getting stopped out.
BTC short stop-loss set at 104,000, ETH stop-loss at 2,900. Although the loss isn't much, the feeling of losing positions and having less money overnight is really unpleasant, this kind of price surge is too rare. However, I still see the long-term trend as bullish; BTC hitting 130,000 in the next month or two shouldn’t be a problem, and ETH reaching 3,400 also has no pressure.
In the current market, if you want to avoid losing money, don’t rush to open shorts, stay steady until you see a peak. At this time, you need to do right-side trading, wait for the momentum to weaken before considering positioning for shorts, currently, overall it’s still safer to focus on short-term longs.
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