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Position Management for Cryptocurrency Newbies If you are a gambler who loves poker, likes big ups and downs, likes excitement, and likes short-term pleasure, you probably won’t consider position management; ⭐If you are burdened with foreign debts and online loans are pressing you for money every day, you probably don’t have the patience to learn position management. All you want is the belief and fantasy of getting rich quickly. ⭐If you are an old investor, have actually lost money, been hurt by the market, and experienced the pain of several margin calls, you probably already have your own position management awareness and experience. ⭐Most of the people who die in this market do not die because of strategy failure or technical garbage, but because of mistakes in position management, or they die from opening with heavy positions, or they die from increasing their positions.
$BTC The live broadcast mentioned a callback that met expectations, testing the breakout neckline near 94400. The rebound here can only be considered a short-term move (reaching around 95500). Additionally, the area between 97500-98000 remains a good position for re-entering short positions.
🔥 Three good habits for short-term positions:
🥘 When unsure whether to exit after a floating profit, directly take half profit and keep the rest for breakeven, you will never be wrong! 🥘 After a period of floating profit, it’s a good habit to set a breakeven or trailing stop, never let it turn into a floating loss! 🥘 The target profit position is always just a goal, do not be overly attached to the target profit position!
$BCH After breaking the bearish ascending wedge structure, the price has retraced to the trend resistance line. Earlier in the live broadcast, I mentioned a short position around 624. Friends who are still holding can pay attention to the resistance level around 605. If it cannot break through, you can continue to hold; if it breaks through, you can exit. Currently, it is retracing to the resistance level near 605. In the short term, if 605 is unable to break through for a long time, there is an opportunity to enter a short position, with around 627 as a replenishment point and a stop loss at 640.
⭐ Three good habits for short-term positions:
🌷 When in profit and unsure whether to exit, directly take half profit and leave the rest at breakeven; you can never go wrong with this! 🌷 After being in profit for a while, habitually set a breakeven stop loss or move the stop loss; this is the bottom line and should not be taken as a floating loss. 🌷 The take profit target is always just a pie in the sky; do not be overly fixated on taking profit at the target position.
$BTC Anything can happen in one night. The breakout of the bullish triangle structure came earlier than expected. The 96500 resistance level has been broken through, and re-establishing above it sets the next resistance at around 98900. It's currently not advisable to chase long positions. Short positions can be monitored again near 96564-97500, where there is both a horizontal resistance and an ascending trendline resistance, forming a double resistance zone. Use a stop-loss strategy, trade with light position size and no pressure. The two CME futures gaps are still below.
$BTC Anything can happen in one night. The breakout of the bullish triangle structure came earlier than expected. The 96500 resistance level has been broken through, and re-establishing above it sets the next resistance at around 98900. It's currently not advisable to chase long positions. Short positions can be monitored again near 96564-97500, where there is both a horizontal resistance and an ascending trendline resistance, forming a double resistance zone. Use a stop-loss strategy, trade with light position size and no pressure. The two CME futures gaps are still below.
$BTC Extreme liquidity exhaustion with a prolonged sideways consolidation; a major move may be coming? Structurally, there is an ascending triangle consolidation pattern at the end of a daily-level downtrend, which generally has a good probability of breaking out. If the breakout occurs, a significant upward surge could follow. However, considering external factors, the scenario might be a sharp rally after the breakout, followed by a sudden drop triggered by news (e.g., Trump launching a new military action against Iran).
As long as the pullback stays above 88000, the rebound trend will continue!
Regardless, a major move is coming again! Position management first!
$BTC Extreme liquidity exhaustion with a prolonged sideways consolidation; a major move may be coming? Structurally, there is an ascending triangle consolidation pattern at the end of a daily-level downtrend, which generally has a good probability of breaking out. If the breakout occurs, a significant upward surge could follow. However, considering external factors, the scenario might be a sharp rally after the breakout, followed by a sudden drop triggered by news (e.g., Trump launching a new military action against Iran).
As long as the pullback stays above 88000, the rebound trend will continue!
Regardless, a major move is coming again! Position management first!
$BTC Extreme liquidity exhaustion with a prolonged sideways consolidation; a major move may be coming? Structurally, there is an ascending triangle consolidation pattern at the end of a daily-level downtrend, which generally has a good probability of breaking out. If the breakout occurs, a significant upward surge could follow. However, considering external factors, the scenario might be a sharp rally after the breakout, followed by a sudden drop triggered by news (e.g., Trump launching a new military action against Iran).
As long as the pullback stays above 88000, the rebound trend will continue!
Regardless, a major move is coming again! Position management first!