Don't rush to short
BTC is expected to reach 130,000 in the long term
ETH is expected to reach 3,400 first
Since BTC broke through its historical high, any resistance above has resulted in a skyrocketing rise, with a peak increase of 1,170,000, which is truly unimaginable. I anticipated an increase, and I believe it is bullish, but the strength and extent of this surge were beyond my expectations. I really didn't think that BTC could rise by more than 10,000 points in just a few days. It's truly a blessing for the bulls and a disaster for the bears... Including myself, I have always firmly believed in its upward trend and am confident it will reach a new historical high, but I also wanted to take a short position, and unexpectedly, I got stopped out. My BTC short position stop-loss was at 104,000, and ETH stop-loss was at 2,900. Although the loss was minimal, this surge was something I didn't anticipate. I truly didn't expect to lose my position overnight and see my money decrease. This kind of surge is indeed very rare.
However, in the big picture, I still maintain a bullish outlook. BTC reaching 130,000 in the next month or two is not a problem, and ETH reaching 3,400 faces no pressure at all. With the current structure, the best way to avoid losing money is not to rush into shorts. As long as we haven't reached the peak, there's no need to rush into short positions. This market must follow a right-side trading strategy. When momentum weakens, we will consider placing short positions. Currently, the overall direction is mainly focused on short-term longs.
