Interpretation of cryptocurrency market on SEP 28 2022

The day before yesterday morning, the rebound of the crypto market gave U.S. stocks a good start. However, after the U.S. stock opened at a high price, it did not continue to move higher. Instead, it fell with the crypto market and finally closed up. But the two recent market prices have demonstrated the same point, prediction and strategy are equally important.

 
Many investors in the crypto industry, especially the upstarts who trade Futures, basically rely on prediction. That is, if the prediction is correct, you will get rich, and if it is wrong, you will be liquidated. But in the end, few people really make money through this road. Because there may be mistakes in the prediction, the final outcome is likely to be bankruptcy.


This is precisely the importance of strategies, for example, the repeated shocks in September, our strategy at the beginning of September includes reducing positions; If you open a long position, different strategies will also make the results very different. For example, the interest rate hike is used as the start to enter the market, and after making money, we shall set up profit protection and margin protection. On the other hand, if you see a rise and then open a long position, it is very likely that it will be trapped until now. This is the difference in strategy.


From the current point of view, the basis of the rebound has not been broken. You can continue to look for opportunities to re-open long position, set a stop-loss as before, and turn your profit into margin or profit protection. However, the overall market is still down.