7.23 Market Interpretation
When trading, one must always be clear-headed: Who am I? What position do I hold in the market?
Each of us is an ordinary retail investor in the market, and the coins in our pockets are limited, insignificant in the face of this vast market;
Current Market Situation:
1: The monthly line (big picture) upward trend that started in April this year has not ended, and BTC still has higher points ahead.
2: The weekly line (medium-term) upward trend that started on June 22 is also likely not to have ended.
This clarifies our current position and market direction;
Once a trend is formed, it won't easily change. The current weekly trend remains bullish, and it won’t change in the short term.
We just need to do one thing: wait for a pullback to go long; regarding where to set up for a pullback, there are specific strategy positions in the group.
At this moment, not going short and not chasing highs has already been half successful; merely thinking about high selling and low buying within the day may seem clever, but aside from stimulating your hormones, it does not benefit wealth growth at all. If day trading high selling and low buying was so profitable, why aren’t investment giants like Buffett, Ge Weidong, and Dan Bin doing it?
