Can we still play with BID coin, which has plummeted again?
On the 17th, I woke up to find $BID had dropped to 0.1! Since we didn't keep an eye on it, let's just wait for a short opportunity; my short position was opened at the peak, and the return has reached 1700%! Where does this confidence come from? Let's break it down:
First, on the night before opening a position, July's PPI data surged 3.3% year-on-year, hitting a three-year high. This directly impacted the Federal Reserve's expectations for a rate cut in September, leading to market panic;
On the same day, $BTC also showed a daily three consecutive declines, and $ETH even fell below 4400, further confirming that the market has entered a weak adjustment phase; as a copycat, BID has low liquidity and is more easily dragged down by the overall market;
At that time, the derivatives market saw the BTC funding rate drop to -0.15%, and the proportion of long positions in the entire network reached 74%, which were extreme bearish signals that laid the groundwork for the crash.
So can we still hold BID now?
Currently, BID has broken strong support; if it rebounds to 0.082, one can add to short positions; if the overall market stabilizes, it is necessary to decisively exit.
With the overall market declining, how should everyone select coins with stronger anti-decline characteristics to achieve profits? Those who want to avoid detours should follow my rhythm; I provide first-hand information and top-level layouts to fans, making it easy to profit in real-time. If you agree, just come on in!
