Good afternoon, the moonlight is beautiful; hello everyone.
1) Preface
Since 2 PM, the frequency of fee collection for VOXEL has changed to once every hour. Let's talk about the market fluctuations during this period.
2. Market Situation
1) Is the long position for VOXEL still open?
Around 1:50 PM, the fee rate dropped from -2% to about -1.7%, indicating that quite a few short positions were closed. However, the price did not rise; instead, it gradually fell to around 1.13, especially around 2 PM when it dropped to a low of 1.05.
My long position was closed at the profit-taking level of 1.10, securing half of the profit. I placed a sell order for the remaining half at the price of 1.0, but it didn't continue to decline; instead, it rebounded, especially when the rate started to rise again to 1.8. At that point, the price reached 1.14, and I re-entered with a quarter of my original position. The total number of tokens held is 4000, and the opening price increased from 0.04 to 0.07.
Why operate like this?
First, I set a profit-taking order to prevent a sharp drop that would lead to excessive profit loss. I take profit in batches, with the base profit-taking levels at 1.1 and 1.0. I see this resistance level as very strong for going long.
Secondly, I immediately decided on the bottom profit-taking position after seeing the fee rate drop because I was worried that the main force would sell off and cause a super crash.
The reason I re-entered with a quarter of my position is that after the fee frequency adjustment was completed, there was a tendency for the fee to expand again, and it has now reached -2%. Moreover, after collecting fees at 3 PM, there was no significant price drop.
I currently hold 4000 VOXELs, and at the current price, the hourly fee is 75u. Although this is significantly less than the 100u before closing, overall, it is to reduce risk in the opening and closing operations. There is nothing to regret—one cannot expect to capture all profits at every position; otherwise, it may lead to losses. This is a significant lesson I learned from trading cryptocurrencies over the past three years.
In February 2024, starting with 6000 yuan, I traded up to 220,000 in a month, but on the night of March 6, I experienced a total liquidation. I don't want to repeat this; let's extend the time and earn bit by bit.
It was still 10,000 on Friday, and currently, it is 40,000 in funds.
2) SOL remains sideways
BTC experienced a short-term pullback, which I believe is due to some funds flowing back into altcoins, indirectly affecting the decline of tokens like SOL. However, the pullback is not significant; I will continue to hold.
3) ETH is really useless
I don't want to say more, my liquidation price for the position is the stop-loss price, just 130u.
3) 3. Positions
The screenshot of the position is below, compared to the screenshot from noon.
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