$BTC 📚 August 24 - August 25 Evening Analysis of the Market - How will the market react after Powell's dovish remarks release the emotional pressure?❓
👂 Current coin price 114736, after the price dropped to the lower edge of the bottom triangle, Powell's speech directly lifted the coin price to the upper edge of the bottom triangle. After breaking through, it continued to pull back. Even if a 30-minute 2-buy and similar 2-buy appeared during the pullback, in my opinion, the upward movement after Powell's speech is a 'revenge pull-up.' Even if the market confirms a 100% rate cut in September, I will not be a fence-sitter. All positions should still be viewed from the market perspective; the news is not important. Before a new high is made on the daily level at 1 sell, shorts remain the primary focus. Before Powell's speech, I continuously reminded my brothers to take profits on short positions. The shorts that were trapped after the pull-up can only be advised to lock in profits or take losses before a high probability confirmation of an end occurs. No one can be sure whether the revenge pull-up will force liquidate your positions. Before the coin price makes a new high, it must first release chips to allow more large investors to enter. Currently, only retail investors are thinking about bottom fishing, while large investors are only thinking about how to acquire the most chips at the lowest price. Therefore, the strategy is as follows: Do not consider short-term profits from long positions; focus on medium-term short positions, and look for signals to bottom fish in the long term.
🎈 Short position: Enter short at market price 114736, first take profit at 112300, second take profit at 111800, third take profit at 100000, stop loss at 116790.
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