Good evening, brothers! I've been a bit busy these past few days, so I didn't update my posts in time, and I also didn't do a live stream last night. Tonight, we will have a normal live stream!
Let's talk about the market trends. Yesterday, from 87 to 94, a surge of 7000 points happened. Compared to last week, the volatility has significantly increased, and liquidity has taken a leap. Of course, during this surge, many bears suffered heavy losses, including myself. I lost over ten thousand dollars trading between 883-898 yesterday, which still stings a bit.
Now, most people are concerned about where this surge will go. Is a bull market back? Can we still short?
Let's answer these one by one. As for where it will go, guessing the top is impossible. If I really had to say, once it passes 92, it will hit 95, and once it passes 95, it will reach 98, but reaching 100,000 this month is extremely unlikely.
Is the bull market back? I can only say it isn't. In the short term, the accelerated surge is indeed strong for bulls. At the beginning of the year, it went from 890 to 110,000 in a week, and then similarly moved downwards. This time, from 744 to 944, it surged in two weeks, but once it reaches the critical point, it will also significantly pull back, which just requires time to develop.
Can we still short? The short-term structure has changed, and the bullish strength is strong. It's not that you can't short, but the cost-effectiveness of shorting has decreased. You can only take light positions. If you want to short, you can only do it with light positions. Try to wait for a pullback to buy. To say something hindsight, during this recent period, mindless buying has been profitable, and even if you get stuck, you can hold on, just like the previous one-sided decline.
Shorting is the same; the market works this way, with both rises and falls having corresponding cycles.
As for today, the starting point for the large upward movement at dawn was 910. Holding this position to buy is now more cost-effective.
The upper dense range is 945, 950, 957, 965.
The lower dense range is 933, 925, 910, 903.
