Interpretation of cryptocurrency market on SEP 8, 2022
There was a strong rebound in the market yesterday, ETH directly reversed, and BTC rebounded weakly in comparison. The previous article also reminded us that the operation is complicated, and expectations can be appropriately lowered. This tossing market may last.
Currently, the price is in the range of long-term sideways fluctuations this year, and there is certain support below. The long and short positions are temporarily maintained in a balanced state. But this balance could be disrupted at any time by many significant events in September. The more complicated thing is that a break may not necessarily be a downward break if the data eventually turns out to be positive. For example, if the CPI continues to fall below 8.5 and the interest rate is raised by 50 basis points or even less, the market will rebound strongly.
In the face of these complex situations and uncontrollable factors, the best way is to choose a relatively defensive strategy for dealing. For example, shorting the main depends on the bottom position starting at a high level, and the following additional positions can only be used in short-term bands, and the stop loss must be strict. It's best to do periodic investments for making long, don't try to guess the bottom. Although this approach will reduce profits in the short term, it will be more appropriate in this complex market.
Currently, the price is in the range of long-term sideways fluctuations this year, and there is certain support below. The long and short positions are temporarily maintained in a balanced state. But this balance could be disrupted at any time by many significant events in September. The more complicated thing is that a break may not necessarily be a downward break if the data eventually turns out to be positive. For example, if the CPI continues to fall below 8.5 and the interest rate is raised by 50 basis points or even less, the market will rebound strongly.
In the face of these complex situations and uncontrollable factors, the best way is to choose a relatively defensive strategy for dealing. For example, shorting the main depends on the bottom position starting at a high level, and the following additional positions can only be used in short-term bands, and the stop loss must be strict. It's best to do periodic investments for making long, don't try to guess the bottom. Although this approach will reduce profits in the short term, it will be more appropriate in this complex market.