Here's a suggestion for shorting. The current trend is downward, and if you go long, the stop loss is generally set at the bottom of the previous wick. After a sharp drop, the operators usually cooperate with news to make an unexpected rebound to harvest the shorts.

So let me provide a logic for shorting. The target is BTC, the previous high of 112000, which is also the recent support. If it breaks below, it will turn from support to resistance. However, given the previous news where BTC surged by 7000 points, my personal suggestion is to short at the second resistance level. Set an order around the life line resistance of BTC at 115200-116000, with a stop loss near 117000. This way, you generally won't get trapped and still make a profit, which is substantial.

The altcoins are the same; we also choose to set short orders at the second resistance.

However, if going long, you must set the stop loss close to the first short-term support. Do you understand?