Interpretation of cryptocurrency market on OCT 26 2022
There was a round of market rebounds from last night till this morning. ETH has broken through the recent sideways range and the bear market falling channel last night. According to the previous plan, after the breakthrough, will need to close it if you are still holding the short positions and add more long positions.
However, the conclusion of BTC is temporarily different. Currently, BTC is at the upper edge of the range, and it did not break through yet. It is still in a volatile market. Open a short position for short-term operation if appear small level at the top, and the stop loss is at the point where the breakout needs to chase more on the right.
This method of operation is not contradictory. The two varieties have different conclusions, and it is an unclear manifestation of the market situation. Especially in the stage of volatile market changes, it is easy to encounter a few abnormal spikes. It is clear that if all the funds are going to the long position at this time, it is necessary to resolutely stop loss. After the stop-loss is out, continue to operate on the right side. This will test your execution ability and mentality.
Or simply, as mentioned many times in the previous article, at the end of the bear market, profit is the secondary focus, the market is not in the stage of making money, but there are many bargains, and some small-cap currencies with huge potential are in this position. It is possible to start a miracle in the next bull market, and the more in-depth market research, the higher the probability of a miracle, even the most stable BTC, and ETH, the potential for these 2 cryptos at this price is also very considerable.
However, the conclusion of BTC is temporarily different. Currently, BTC is at the upper edge of the range, and it did not break through yet. It is still in a volatile market. Open a short position for short-term operation if appear small level at the top, and the stop loss is at the point where the breakout needs to chase more on the right.
This method of operation is not contradictory. The two varieties have different conclusions, and it is an unclear manifestation of the market situation. Especially in the stage of volatile market changes, it is easy to encounter a few abnormal spikes. It is clear that if all the funds are going to the long position at this time, it is necessary to resolutely stop loss. After the stop-loss is out, continue to operate on the right side. This will test your execution ability and mentality.
Or simply, as mentioned many times in the previous article, at the end of the bear market, profit is the secondary focus, the market is not in the stage of making money, but there are many bargains, and some small-cap currencies with huge potential are in this position. It is possible to start a miracle in the next bull market, and the more in-depth market research, the higher the probability of a miracle, even the most stable BTC, and ETH, the potential for these 2 cryptos at this price is also very considerable.