If you follow me and read my posts carefully, you will definitely be able to grasp today's rise.
First of all, when I posted the last technical analysis last Monday (April 14), I mentioned that if the closing price last weekend (that is, 8:00 this morning Beijing time) was closed at 83,000 or above, the weekly bottom pattern was established and stood above the 5-week moving average, then the weekly line would move up for a while, which would be at least several weekly K-lines, which means it would last for several weeks.
And the day before yesterday, in the article I wrote about my visit to Vietnam, I also mentioned at the end that the most dangerous time has passed.
At 8 am today, the price closed at 85140. My words from last Monday came true:
In other words, now, whether from the perspective of fundamentals or technical analysis, the bulls have the advantage, so why not go long?
Personally, I entered the market after Bitcoin fell back to around 84,500 last night, as it was not far from 8 o'clock. Judging from the market situation, there was basically no possibility of it falling back below 83,000. Therefore, I predicted that the weekly bottom pattern would be established and above the 5-week line.
Of course, even if you are not far away, if you entered the market at 85140 in the morning, you would have made a profit of 2,000 points now.
However, I have a problem, I always look at the strong and act weak. Looking at the big cake, I entered the ether:
I entered the market at 1578.7 and now have set a stop loss to protect my capital. Even if the price drops further, I won’t lose money.
If it were the stock market, this approach would definitely not make any money, because the stock market sectors have the rule that the strong will always be strong and the weak will always be weak, but in the cryptocurrency world there is a rule of making up for the rise and fall, as long as it does not return to zero.
If you still don’t understand the market, if you are still losing money, please follow me and you will learn really useful knowledge.