SOL: Summary of the discussion in the Bidaoge community (10:00:09 ~ 11:00:09)

This article is machine translated
Show original

1. The current recommendation is to focus on SOL. It is advised to closely monitor Bitcoin's breakout from its current range: if BTC breaks through 70496, forming a Double Botto pattern, SOL is likely to follow suit; if it falls below 67882, it may continue to decline, and SOL should be wary of a pullback risk. Currently, the strategy is to tentatively establish positions based on BTC's price action, waiting for a breakout signal to confirm the start of a bullish trend, avoiding blindly chasing highs. 2. Position and Risk Management Recommendations: SOL is advised to adopt a small position sizing strategy, focusing on the key BTC price levels of 70496 and 67882 as reference points for profit-taking and stop-loss. A break above 70496 allows for gradual additions to the position; a break below 67882 warrants a decisive stop-loss exit to prevent being trapped in a deep loss. Operationally, it is recommended to combine this with a rectangular consolidation range, setting clear profit-taking and stop-loss orders to avoid the risk of a pullback after a significant upward move. 3. Suitable for Trading Styles: This strategy is suitable for conservative medium-term and trend-following investors. It relies on key technical patterns in BTC and emphasizes following the trend. Quick entry and exit are recommended to avoid holding positions for too long, especially during range-bound trading. Maintain patience and wait for Double Botto confirmation before adding to positions. Avoid blindly chasing rallies or panic selling.

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments