Forward Observation Post:

a) FTX customers filed a class action lawsuit seeking a declaration that digital assets held by the platform belong to customers

b) The US government launched an investigation into the hacking incident that occurred after FTX went bankrupt

c) Mango attacker Avraham Eisenberg arrested in Puerto Rico

Uncle's strange story:

The issue of the ownership of the remaining funds after FTX's bankruptcy continues to ferment. The lawsuit asks the court to declare that funds held for US customers in FTX US accounts, funds held for non-US customers in FTX Trading accounts, or funds held by other traceable customer assets are not FTX property. According to the complaint filed with the U.S. Bankruptcy Court for the District of Delaware, customers also hope that the court will clearly determine that property held in Alameda that can be traced back to customers is not Alameda property. If the court determines that it is FTX's property, then customers will seek a ruling that they have priority over other creditors, and FTX's capital for a comeback is estimated to be divided up by the federal court and repaid to investors in priority. It is estimated that the continued reporting of such news will not arouse large-scale market turmoil. FTX is about to become a microcosm of cryptocurrency history, disappearing on the long and rugged road of exploration in the crypto world.

BTC/USDT:

Yesterday, we analyzed that BTC will continue to move in a 4-hour downward trend. The overall market continues to increase in volume in the middle of the market, and the downward support level of 16,600 has also been touched. The closing of the bottoming rebound is not ideal, but the probability is that it will continue to decline until it falls back to the bottom support several times to form a new round of consolidation.

BTC continues to recommend shorting on rallies, shorting near the range gap of 16800, with an upward stop loss at 17000 and a downward stop profit at 16000-16400. Beware of the risks brought by a rapid decline.

ETH/USDT：

The 4-hour volume of ETH is not satisfactory. After the cross-sectional downward shock, it continuously fell back to the 1200 support. It is difficult to have a substantial break in the short term. It continues the shock pattern of BTC and continues to fluctuate. If BTC goes out of the range and continues to fall below, ETH will also usher in a new round of decline.

Short at highs near 1250, the upside stop loss position can be placed at 1280. After falling below the range, the take profit position can be seen near 1160. Beware of the pin shock after the bottom fills the gap.

Message from Uncle:

A good attitude is the prerequisite for success

a) You need a good attitude to do anything, especially in trading. Whether you are sitting on the Diaoyutai or covered with scars depends on your attitude when trading. In the financial market, we all know or have heard of the "80/20 rule". It says that among people who trade in finance, 80% of them lose money and 20% make money. I don't deny this, but I think 80% of people have a bad attitude and 20% have a good attitude. Remember that trading is financial management, not gambling.

b) Before trading, we need to pay attention to the mentality of purpose, whether it is the idea of ​​getting rich overnight or winning by playing it safe. Don't pretend to be a steady money-maker in front of others, but deep down in your heart you are actually thinking about making a little more before each trade, or even more. This self-deceiving mentality is the domino effect of capital loss. Even if we were once glorious, it is fleeting, and every trade is a new beginning.

c) Before trading, most people want to play it safe and win every time. However, as the market changes and becomes more and more crazy, people will just go with the flow during the trading process. Only a few people will remain unmoved. Therefore, during the trading process, you should follow the mentality you had at the beginning of the transaction. This is the most difficult thing for many traders to do. I will talk about my own approach:

d) If there is a profit during the transaction (speculation), the position will not be increased, but the decision on whether to exit the market will be made based on the market fluctuations and the plan at the beginning of the transaction, or the position and stop loss will be adjusted to seek higher returns. It should be noted that in addition to being based on technology, the setting of take-profit and stop-loss is more importantly based on one's own position ratio.

Note: In the process of value investing, the increase or decrease of positions, the time and price of exit must be considered comprehensively. Not only fundamental factors, but also risk control, and the allocation of funds in different markets must be considered. This is quite different from speculation.

e) If you suffer a loss during the transaction, strictly follow the trading principles and plans formulated at the beginning of the transaction, and do not let your mentality be greatly affected by the loss of funds. I personally believe that the trading plan formulated at the beginning of the transaction is a choice made during a calm period, and the temporary trading plan formulated during the transaction is very likely to be affected by market factors and lose a relatively fair judgment.

f) After the transaction is completed, whether it is a loss or a profit, you must maintain a calm mind. When you make a profit, be modest and prudent, and when you lose, have no regrets.

g) After completing a transaction, if you make a profit, do not rush to trade again. There is no end to making money. Remember that all the money in the market is not prepared for us alone, and it is impossible to get rich overnight.

h) After completing a transaction, if you lose money, don’t think about re-entering the market to make up for the loss, trying to make up for the loss or more. You must know that losses are normal, and thinking about making up for the losses will often result in losing everything.

Life is a journey of forging ahead, and trading is a journey of going against the current. The financial market is a battlefield, where it is either you or me, so when trading, we must recognize the market, recognize ourselves, and trade rationally, otherwise we will be defeated at best, or even destroyed. Get first-hand information about the industry, grasp real-time hot spot tracking, deeply analyze industry news, and follow the crypto weird uncle to take you into a different crypto world