01
Cryptocurrency News Interpretation
According to sources, Wall Street giant Fidelity is expected to submit its own spot Bitcoin ETF application soon, and the application may be submitted as early as Tuesday. In 2021, Fidelity applied for a Bitcoin spot exchange-traded fund called Wise Origin Bitcoin Trust, but it was rejected by the U.S. Securities and Exchange Commission (SEC) in early 2022. Some time ago, BlackRock also submitted a Bitcoin spot ETF. More and more institutional giants are starting to engage in spot ETFs, which shows that they are very optimistic about this market. In the short term, spot ETFs will not be passed. According to relevant information, it is very likely to be passed at the end of the year or next year, which coincides with the time of Bitcoin production reduction. It is very likely to bring a wave of bull market and become the fuse of the next bull market!
Important news overview:
1. Source: Fidelity is preparing to submit a spot Bitcoin ETF.
2. FTX suspends sale of $500 million stake in AI company Anthropic.
3. Three Arrows Capital liquidators demand $1.3 billion from fund founders.
4. Japanese and Singaporean regulators team up to launch cryptocurrency pilot project.
5. EDX Markets drops Paxos as a planned custody partner.
02
Cryptocurrency Trading Tips
Mental training
In the investment market, success rate is always a topic that cannot be ignored, especially in contract trading. For example, if you win 7 out of 10 bets, but lose 3 times more than you win 7 times, you have a 70% success rate. But what is the use of such a high success rate? Sometimes, even if 5 out of 10 trades are wrong, but you stop loss and take profit reasonably, the result is profitable. Which one do you want?
Therefore, the success rate is a false proposition. The charm of contract trading is to make a small investment for a big return. With a stop loss of four or five hundred points, you can get a profit of three or four hundred points. It is a joke to want to make money in the trading market with this success rate.
The more you pursue success rate, the more you lose profit rate, and the more you pursue profit rate, the lower your success rate. The profit of gambling in the market is not the number of times you are right, but how to increase the stakes when you are right and make the right run, and how to stop the error from spreading when you are wrong. The financial market is never about old people making money from newcomers, but about wise people making money from fools!
03
Cryptocurrency market analysis
In the 30-minute trend, 31471 is the top, and the decline since 31471 is seen as an adjustment to the previous rise. The callback target cannot be calculated, and the support below is 29500 and 28500.
The overall adjustment is around 30 minutes of oscillation downward, rising for 8 days and falling for 6 days, which is basically the same time. The callback range is one-third, which is a strong adjustment.
Next opportunity: After the adjustment is over, the third uptrend in four hours.
In terms of operation, continue to view it as a pullback and shock. If there is a large volume pullback, you may consider buying. If there is no large volume, do not participate!