Last night finally waited! BTC came out of the 4,000-point unilateral market, and the triangle convergence pattern broke through upward.
After reaching a high of 94,600, it began to fall back, and today's low hit 92,000. I reduced my position by 30% at the top, and when I pulled back to 92,000, I added another point, and now the average price is 90,800.
To be honest, if I can't go up this time, I will consider clearing the position and leaving the market - there is no need to carry it to death.
From a technical point of view, after breaking through the convergence triangle strongly yesterday, it has now entered the stage of retracement. According to wave theory, this should be the second wave correction, and then prepare for the third wave 🌊 of the main rising wave. At present, the principal guarantee has been hung, waiting for the market to start again.
Here comes the point: the Fed's FOMC meeting at 3 a.m. tonight, Powell's speech at 3:30 a.m. Be sure to keep an eye on Powell's statement, and if the market reacts wrong, I will not hesitate to close the position.
It is also worth noting that this volume breakout successfully crossed the downtrend line from 120,000 - a clear signal of a bullish counterattack.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Last night finally waited! BTC came out of the 4,000-point unilateral market, and the triangle convergence pattern broke through upward.
After reaching a high of 94,600, it began to fall back, and today's low hit 92,000. I reduced my position by 30% at the top, and when I pulled back to 92,000, I added another point, and now the average price is 90,800.
To be honest, if I can't go up this time, I will consider clearing the position and leaving the market - there is no need to carry it to death.
From a technical point of view, after breaking through the convergence triangle strongly yesterday, it has now entered the stage of retracement. According to wave theory, this should be the second wave correction, and then prepare for the third wave 🌊 of the main rising wave. At present, the principal guarantee has been hung, waiting for the market to start again.
Here comes the point: the Fed's FOMC meeting at 3 a.m. tonight, Powell's speech at 3:30 a.m. Be sure to keep an eye on Powell's statement, and if the market reacts wrong, I will not hesitate to close the position.
It is also worth noting that this volume breakout successfully crossed the downtrend line from 120,000 - a clear signal of a bullish counterattack.