The order that Kai sent yesterday has made a small profit today, aiming to close at five points.
There will be non-farm payroll data in the evening, and it looks like there will be another drop. During this wave, Kai firmly bottom-fished when going long and controlled the points well when going short.
From the perspective of this data, it is far from the bottom, as retail traders have completely closed their long positions in surrender, and the institutional long positions have also all been closed. Next, I need to see a few data points before I will close and go long.
1. Healthy exchange rate, BTC rising, SOL rising, Ethereum falling.
2. On-chain data; a large amount of BTC has been withdrawn.
3. Position data; open interest is decreasing, and the number of retail contracts going long is decreasing. The long-short ratio is decreasing.
I suggest that if you go long, go long on the strongest, and if you go short, go short on the weakest.