The Master of the Chained Theory Kneels and Sings Conquest! How Abnormal Was the Cryptocurrency Market Last Night?
Last night’s cryptocurrency market can be described as a "Meat Grinder Market"! Both bulls and bears were killed three times with spikes, and all technical indicators failed. Even the master of the Chained Theory had to kneel and sing Conquest. In this market, trading short-term? You might survive, but you'll definitely be skinned alive!
The Federal Reserve remains still, with interest rate cuts postponed to September, and the Sword of Damocles hanging over the crypto world will stay for another two months. Looking at the larger cycle, the bears have already pulled the reins, and any rebound is just a chance to be slaughtered; shorting at highs is the correct strategy.
However, the short-term 4-hour chart is a bit interesting: a bullish line has wrapped around a bearish line, and the previous low hasn’t been broken, indicating that the bulls are still struggling. Today, you can take a small position to seize the rebound, but remember! This is like taking nuts from the fire; if you make a profit, just run away, don’t get greedy. When the rebound reaches the resistance level, directly turn around and short, letting the bear army take you flying!
In a bear market, there are often explosive surges; in a bull market, there are often sharp declines. Now? Buckle up, the main upward wave of the bears has just started!
Next, I will continue to lay out my clever trades. Rather than fumbling around and failing to capture the best entry and exit points, leading to holding losses, it’s better to follow me; for those who agree, just come directly.
