In the range of fluctuations, I earned 16,000 points in a week. I think I should share the results of my recent trading plans and the experiences I gained.
A total of three trades.
1) When BTC was at 86,000, I called for a long position above 86,000, betting that BTC's drop was a false breakout of the bottom of the wide channel. The price broke through the bottom of the wide channel multiple times but did not succeed in breaking out. Subsequently, two bullish candles pushed the price up to the take-profit level of 91,000, with the final average take-profit price above 91,000, yielding a profit of over 5,000 points.
2) In my plan, I aimed to short at 93,000 and reach above 83,000, which has been my consistent judgment. The price trend also reflected this. I judged that the fluctuation range was close to the top, and 93,000 was a significant liquidation zone for bears and a pressure point for the pattern. Additionally, the price had risen from the bottom to 93,000, reaching 13,000 points. I bet that the market would fake breakout at this position and then sell off, ultimately taking profit with a gain of 9,300 points.
3) I judged that after the price reached around 83,000, many people would anticipate a bearish trend, believing the price could break through the bottom of the wide channel. However, the bottom of the wide channel is a very strong support level because the wide channel itself is also a fluctuation, but it is an upward fluctuation with a weak trend. The bottom of the wide channel represents the bottom of the fluctuation range. Therefore, my plan was to long at 83,700, betting on the false breakout of the bottom of the wide channel, taking profit from the short position and going long, yielding a profit of over 2,000 points.
So you should be able to find two commonalities:
1: Bet
2: False breakout
The judgment of false breakouts is highly subjective and cannot be quantified, yet it is profitable. The false breakout of support in the wide channel, the false breakout of the bottom of the wide channel, and the false breakout of pressure points in the pattern are all similar. I believe that mentioning the key to making money will have significant meaning for traders reading this article.
Real question: Mu Mu, I remember you said that a trend reversal is also a kind of breakout. So is there anything wrong with my long position at 90,000, betting against the market reversal? Why did it drop directly?
The wide channel represents a weak trend. The price failed to break through the 92,000-93,000 range multiple times. At this point, one should consider a trend reversal rather than a continuation.
So, continue with the plan, continue the game. The money earned is mine and yours. The money you’ve earned should be treated as your capital. Don’t feel indifferent about losses. Maintain yourself and avoid significant losses, and you will have the ability to make money. Keep it up.
