Bitcoin surged overnight to around 70,000. Is it time for short liquidations again?

CN
9 hours ago

Cryptocurrency News

February 26 Hot Topics;

1.Circle Earnings report exceeds expectations, rising 16.3% before the market opens, with an increase of over 35% during trading.

2. Today's CME "Federal Reserve Watch" data: The probability of maintaining the interest rate in March is 98%

3. Ethereum Foundation releases the Strawmap route draft, planning about 7 forks until 2029.

4. The $100 million Fellowship PAC has no actual funds, Tether denies any association.

5. BlockFills CEO Nicholas Hammer resigns, the company suspends deposits and withdrawals and seeks to sell.

Trading Insights

1. About Waiting (The Waiting) "Trading is mostly boring. If you feel excitement, then you are losing money." Don't stare at the screen all day. Grabbing the screen will just make it glare back at you and consume you. Good hunters spend most of their time waiting. They wait for the wind direction to change, and for the prey to lower its head to drink water. Don't focus on market trends. Let the market crash into you like a clueless drunk. When you have nothing to do, do nothing. Being in cash is also a position. 2. About Stop Loss (The Cut) "Stop loss is your only friend. Though this friend might bite you sometimes." Acknowledge your mistakes with courage. Most people lack courage. Watching losses grow is like watching a wound fester while praying for a miracle. Miracles do not happen. Bad toes happen. When you've made a mistake, cut it immediately. Do not fret. Don't fix it. Pay the bill, try to learn a lesson, and then strive for honor. As long as the green mountains remain, there is no fear of firewood running out. 3. About Leverage (The Leverage) "Leverage is borrowed courage. It is not yours." In that dogshit contract market, leverage is like a bad drug. It makes you feel like you are doing nothing, makes you feel smarter than the market. But it will give you a splitting headache when you're sober. Bet with what you can afford. If this trade keeps you up at night, you are betting too big. You can only win when you can sleep at night. 4. About News and Noise (The Noise) "Don't listen to them. They sell newspapers, not truth." In this circle, some are selling news, some analyzing charts, some bragging about insider information. Plug your ears. Only look at two things: price and volume. Price is the fact. Volume is the power. Everything else—what macro analysis, what institutional upgrades—are usually lies or smoke bombs to obscure retreats. 5. About Essence (The Ocean) "The market is like the ocean. It is not cruel, it is just indifferent." Do not be angry at the market. Do not try to take revenge on Bitcoin. It does not care about you. It doesn't even know you exist. If you got knocked down by a wave, it's because you misread the tides, or your boat was too dilapidated. Accept it. Clean your wound. Set sail again. 6. Awe for the Unknown (The Respect for the Unknown) "Only a fool believes he can master every candlestick. A wise person knows that when the wind rises, it is not determined by the weather bureau, but by the ocean." Sometimes, you buy not because of a MACD golden cross, but because that morning's coffee tasted just right, or the direction of the wind outside changed. Is this called mysticism? No, this is called animal instinct. In the jungle, the longest surviving is not the strongest, but the one who can sense danger best. 7. About Mystical Trading "Do not rush the sunrise. What is meant to come will always come. That is mysticism, and Bitcoin is the same. It has its own schedule." Do not ridicule mysticism. And those who try to use it to guess the next minute's ups and downs are just holding a chalice filled with urine. They do not understand the way; they are just blinded by greed, just like the news of the previous one, telling untruths. That is all my insights. There is no magic formula. There is only discipline and the elegance of this cold, harsh reality.

LIFE IS LIKE 

A JOURNEY 

Below are the live trading results from the Big White Community this week. Congratulations to the friends who have followed along. If your operations are not smooth, you can come and test the waters.

The data is real, and each order has a screenshot issued at that time.

Search official account:Big White Discusses Coins

Bilibili YouTube account:Big Authority 777

BTC

Analysis

From the perspective of the large coin chip structure, it is also very healthy. Today's data highlighted the chip structure, and even when Bitcoin's price was $90,000 a month ago, the chip structure was quite similar to now, with the stability of profit and loss investors becoming stronger. Looking back at Bitcoin's data, trading volume is rising, turnover rate is declining, which is good data, indicating that in the process of rising, short-term investors are not so stubborn about selling, and there are still some recently bought investors ready to hold $BTC, and early investors are also not showing signs of panic selling. These are quite good data.

ETH

Analysis

This morning before the US stock market opened, BTC had a slight rebound, and after the $CRCL earnings report was released and the US stock market opened, Bitcoin surged like it had taken medicine, rising over 8% at its peak, while CRCL even rose nearly 35%. Many friends said that today's rise in BTC was driven by CRCL, which I am not very sure about, but BTC and CRCL's movements are indeed very close.

If it is indeed because of CRCL, then this rise in BTC might just be a rebound. After all, CRCL's earnings report is good, but it hasn't changed the status of cryptocurrencies or the overall market liquidity; it could be a bottom-fishing motivated by sentiment, as noted in today's data that this price is quite attractive to investors.

Additionally, it is indeed surprising that one earnings report could lead CRCL to rise 35% and also drive Bitcoin to rise nearly 8%. I hope this emotional boost can be sustained for a while.

A rebound to around 2134-2142 can be an opportunity to short, with targets looking towards 2060-2016.

Disclaimer: The above content is merely personal opinion and for reference only! It does not constitute specific operational advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there are any unclear points, please feel free to consult.

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