Wow! In the market where both bulls and bears are being wiped out, retail investors can actually make money by thinking differently!
Since Friday, the market has been getting cleaned up by both bulls and bears. Brothers, the market trend is right there and won't lie; this kind of market is reminding us that we need to quickly change our trading mindset. Right now, the major players are mainly focusing on technical traders, so we retail investors need to go against that. Today, we absolutely cannot blindly chase the bulls anymore; during the US trading session, the big players will definitely hit the long positions hard, and then both sides will be beaten up.
Regarding today's market, our first move is to wait for it to explore the bottom and wash out positions. As long as the price of Bitcoin doesn't drop below 106.3k, we can take long positions at suitable price levels, such as at 107.5k; just remember to set a wider stop loss. Looking at the upper resistance level, there is currently only one short-term resistance at 112k. If the market strongly breaks through this level and then falls back below 112k, we can follow the trend and short, making a 2-3k profit before withdrawing; the risk is completely within a controllable range.
