September 23 Second Cake
The second cake hit a low of 4000.88 yesterday, but the market quickly rebounded, which means that after touching a low point, it bounced back quickly. This wave caught Old Gu off guard yesterday, but in the later market, he managed to catch a small rebound to recover some losses. Last night, Old Gu also posted that as long as it does not break 4220, he can still hold a small position.
Last night, Old Gu himself laid out a small position near 4200, reduced his position when it was at 4120 today, and then bought back near 4200 again. Currently, his average holding price for the small position is at 4192, with a stop loss above 4220.
Currently, in the short term, the market is still not stable, which means that the second cake is very likely to test downward again. After adjustment, Old Gu's current entry target is around 4060, as this position is the last defense level for the second cake on the daily chart and must not be lost.
Additionally, after rebounding from this position, it is also the C wave of the ABC wave adjustment that Old Gu mentioned yesterday, and there is still a high probability that the upward range will open in the later market. $BTC