🔥BTC fell 8000 points overnight, is there still hope for the weekly support? + Chapter 12 of the Chan Theory Diagram Explanation 👇
======================= "I usually advise others not to trade cryptocurrencies professionally. The pain involved is something only people like us can understand; it is unimaginable before becoming a professional." ======================= Personally, I believe that if stable profits cannot be achieved within 3 years, it will probably be very difficult even after another 3 years. This is because we are now in the information age, where various methods and information can be searched online, making the learning process very fast. ======================= Unlike stock trading in the 90s, when information was scarce and many successful people spent 3 years or even 5 years or longer. But now, if you can't achieve stable profits in 3 years, I think you should consider giving up appropriately; otherwise, in the end, you'll just waste your youth and realize you haven't gained anything. ======================= 🔥Yesterday it was still said that this weekend was very relaxed, with no major market fluctuations, and even BTC had an independent market trend. As a result, by the afternoon of US time, things started to go wrong, Bitcoin fell by 7% and ETH fell by over 10%. ====================== Many reasons for the fall have been analyzed, but they are somewhat forced, and there is indeed no very clear reason proving that the fall is related to anything. To say it is related to the implementation of reciprocal tariffs is also incorrect, because after Lutnik stated that reciprocal tariffs would be implemented on schedule, several countries and regions showed that they could make adjustments, which is a good thing. After all, the reciprocal tariffs announced on the 2nd are the worst-case scenario; as long as the outcome is better than this, it is a plus for the market. ======================= Looking at the data of Bitcoin itself, as expected, there hasn't been much trading turnover, and it remains dominated by short-term investors, especially those who have been bottom-fishing in the last two days. I wondered if the formal implementation of the 10% tariff starting Monday caused some investors to panic? After all, the average tariff in the U.S. in 2024 is only 2.5%, and now it has risen to 10%. ======================= This also indicates that at least for now, there are no significant signs of panic on the chain, and the larger possibility of sell-offs is primarily from the existing stock of Bitcoin on exchanges. ======================= Bitcoin did not have institutional support over the weekend, resulting in a downward trend, breaking below the 80,000 mark and shifting downward. The weekly chart has formed a bearish engulfing pattern and is about to touch the weekly support at 76,000. The four-hour chart shows a drop back to the previous low. Moving forward, 80,000 will act as short-term resistance, with expectations for short positions. A quick clearance of long positions downward could become the biggest trading opportunity in the second quarter! ======================= 🔥Intraday Trading Plan: Yesterday, the long position at 75800 has made a profit of 5000 points, and the first wave at 80050/1635 has made another profit of 2500/100 points. ======================= Today I want to short, referring to near 81500/near 1635 for shorting. Low long position reference, subscribe to the strategy👌
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🔥BTC fell 8000 points overnight, is there still hope for the weekly support? + Chapter 12 of the Chan Theory Diagram Explanation 👇
=======================
"I usually advise others not to trade cryptocurrencies professionally. The pain involved is something only people like us can understand; it is unimaginable before becoming a professional."
=======================
Personally, I believe that if stable profits cannot be achieved within 3 years, it will probably be very difficult even after another 3 years. This is because we are now in the information age, where various methods and information can be searched online, making the learning process very fast.
=======================
Unlike stock trading in the 90s, when information was scarce and many successful people spent 3 years or even 5 years or longer. But now, if you can't achieve stable profits in 3 years, I think you should consider giving up appropriately; otherwise, in the end, you'll just waste your youth and realize you haven't gained anything.
=======================
🔥Yesterday it was still said that this weekend was very relaxed, with no major market fluctuations, and even BTC had an independent market trend. As a result, by the afternoon of US time, things started to go wrong, Bitcoin fell by 7% and ETH fell by over 10%.
======================
Many reasons for the fall have been analyzed, but they are somewhat forced, and there is indeed no very clear reason proving that the fall is related to anything. To say it is related to the implementation of reciprocal tariffs is also incorrect, because after Lutnik stated that reciprocal tariffs would be implemented on schedule, several countries and regions showed that they could make adjustments, which is a good thing. After all, the reciprocal tariffs announced on the 2nd are the worst-case scenario; as long as the outcome is better than this, it is a plus for the market.
=======================
Looking at the data of Bitcoin itself, as expected, there hasn't been much trading turnover, and it remains dominated by short-term investors, especially those who have been bottom-fishing in the last two days. I wondered if the formal implementation of the 10% tariff starting Monday caused some investors to panic? After all, the average tariff in the U.S. in 2024 is only 2.5%, and now it has risen to 10%.
=======================
This also indicates that at least for now, there are no significant signs of panic on the chain, and the larger possibility of sell-offs is primarily from the existing stock of Bitcoin on exchanges.
=======================
Bitcoin did not have institutional support over the weekend, resulting in a downward trend, breaking below the 80,000 mark and shifting downward. The weekly chart has formed a bearish engulfing pattern and is about to touch the weekly support at 76,000. The four-hour chart shows a drop back to the previous low. Moving forward, 80,000 will act as short-term resistance, with expectations for short positions. A quick clearance of long positions downward could become the biggest trading opportunity in the second quarter!
=======================
🔥Intraday Trading Plan:
Yesterday, the long position at 75800 has made a profit of 5000 points, and the first wave at 80050/1635 has made another profit of 2500/100 points.
=======================
Today I want to short, referring to near 81500/near 1635 for shorting. Low long position reference, subscribe to the strategy👌