crude oil surges, is it about to top out? Bitcoin trading opportunities! Yesterday dropped 3000 points, can we short the rebound today? Come and take a look.
1. BTC has now entered a correction trend, with good support around 75,000 in the short term, because this is a previous consolidation zone. It dropped from 79,500 to here with a small rebound, which is not surprising at all. So where can we re-enter a short position?
2. Currently, resistance above BTC is near 76,700 and 77,800, and it’s advisable to gradually position around these levels when approaching. Or if you prefer stability, you can wait for the US-Iran talks again; once this news comes out, BTC will definitely rally, and entering at high levels then can be safer.
3. Speaking of US-Iran talks, crude oil has now risen to around 110, gradually approaching the previous high near 120, and the K-line is nearing strong resistance. Besides the K-line, Trump is also about to take action. Because when oil prices rise, Trump will dump, like the previous holiday news, saying an agreement with Iran is imminent, oil prices will immediately plunge, keeping oil within an acceptable range.
4. I think crude oil belongs to medium- to long-term positioning, low-multiplier long-term, and before important news from the talks, there won’t be much profit. But once the talks are completed, it could be a 20% drop, just be patient and you’ll profit.
5. As for Bitcoin trading, it’s very quick and effective. As shown, Shuqin saw Bitcoin rebound yesterday and advised to short, I shorted 200,000 USDT directly, and also shorted 10 WETH. When the Federal Reserve meeting happened overnight, BTC dropped sharply, earning enough in one night to last half a year.
6. Previously, we shorted BTC at around 79,000, and took profit at 76,500. Both trades were very successful. Don’t always think about one big win, because when the coin price drops, it won’t go straight down; it will pull back repeatedly, and we will earn more in the process. Opening trades daily~
