The overall market remains in a difficult oscillating trend, which involves speculative behavior taking advantage of the larger volatility of altcoins;
This operation requires 1. setting a stop loss at the beginning, 2. moving the stop loss up after exiting and looking for opportunities to expand the level, 3. however, due to the high volatility of altcoins, once there are many profitable points, one will inevitably face the choice of taking profits and the market structure.
1. Since the post yesterday, the E/B exchange rate has risen by 1 point;
2. Today, when I opened the market, some of the key altcoins that were previously traded showed decent rebound strength and structure.
$XRP
The MACD on the 12-hour level has returned to the 0 axis, the RSI has bottomed out and broken upwards before pulling back, and the candlestick structure follows suit;
Many altcoins have shown similar indicator patterns resonating with XRP, for example, $DOGE has performed even better than XRP, but currently, the daily level has not provided a definitive breakout signal yet.
From a trading perspective:
1. The short position on Bitcoin at 119 was not closed at 112, but was closed at 115;
2. The difficulty of shorting is high, and the price action is more exhausting than expected;
3. Bitcoin and Ethereum still lack reasons to go all in on longs at this position, in the short term, I will start testing longs on some altcoins (the position ratios vary greatly).
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