$BTC We have now entered the channel. After a night last night, 300 million in funds have been consumed, leaving 90 million remaining. Once it breaks through the level of 16750, it will drop very smoothly.
The strategy currently looks to explore the positions of 118350 and 118850. Specific operations: you can short these two points with a small position. If 118350 does not rebound, go to 118850 to take her, and close the 118350 position while keeping the 118850 position on a pullback to 118350. The first take profit level is 117300, and it is recommended not to set a stop loss, because the position at 119500 is very hard to reach (very low probability event). Both points of 118350 and 118850 can be used to relieve losses. If you must set a stop loss, the stop loss for 118350 is at 119000, and for 118850 at 119500, the risk-reward ratio is not good; I personally do not set them.
If it spikes, short it. Don't go long, you might get washed out during the consolidation. The reason not to set a stop loss is also that the recent market is being controlled by the big players, fluctuating over 1000 points. If it consolidates, you might get turned into fuel. In the end, it could drop to 112-115 for several days, continuously making new lows; those who go long will find it hard to sleep, it will be quite uncomfortable!
As shown in the picture, this is only the first round of decline, and there will be two more in the future.
Congratulations to myself for winning the lottery last night! Hahaha!
