What to do if stuck in MYX? Caiyue teaches you three tricks to turn the tables!
Today I saw someone stumble on MYX again! Shorted at $4 in the afternoon, and now the price has skyrocketed to $6.2, stuck badly, right? Don’t worry, Caiyue is here to give you some tips.
Why are you stuck? First, understand the trend!
Trend judgment is key
In the face of being stuck, here are three strategies you can refer to:
1. Gradually cut losses to control risks: If you have a heavy position, consider partially reducing your position in the current $6.0-6.2 range. Strict stop-loss is the first principle of trading, keeping capital strength allows you to seize opportunities in subsequent market movements. Do not stubbornly hold on, deep being stuck without stop-loss may lead to liquidation, especially in the highly volatile altcoin market.
2. Hedge locking to reduce risk: This is a risk management method. You can open a small position for a long order opposite to the original short order near 6.1 dollars. This way, if the price falls, the loss on the short order decreases; if it rises, the long order can be profitable. Note: This operation requires high trading skills and precise position calculation; inexperienced retail investors should use caution.
3. Grid trading, volatile profit: Utilizing the characteristic of MYX's average daily amplitude of nearly 16%, set up grid trading in the 5.8-6.5 dollar range, automatically selling high and buying low. This can gradually dilute the cost of holding positions and is suitable for retail investors who can continuously monitor the market.
Market signals and risk warnings
Liquidation data: MYX's 1-hour short position liquidation amount reached 2792 million dollars, which usually indicates that the short force may weaken in the short term, posing a rebound risk, but the medium to long-term trend still needs to observe changes in volume.
Change in trend approaching: The Bollinger Bands are gradually narrowing, indicating that a direction will soon be chosen. The key is whether it can stabilize at 6.3 dollars: success may challenge 7 dollars or even higher; failure may fall below 4.5 dollars.
Trading cryptocurrencies is not a gamble on life; you need to learn to read signals and manage positions! If you want to know whether MYX can reach 10 dollars, or how to solve other trapped cryptocurrencies!
If you are unclear about specific points, you can follow @财月女神 for real-time reminders. Friends who have paid attention to me in the past should pay attention to my building leaves #解套 #币安Alpha上新 #美联储降息预期 .
