Is ZEC at its last gasp? Can Bitcoin be shorted now? Today, let's take a look at the trading opportunities.
Let's talk about ZEC, this big fool. I've never seen anyone so relentless in giving away money. We don't even know how many times we've shorted it, but every time it manages to bounce back, allowing us to continue shorting.
It rebounded to 600 last night and then fell again. This coin can be shorted on any significant rebound, 1x won't get liquidated, just hold if you're stuck, you'll eventually profit. The daily MACD momentum has already crossed down, every time there's a significant rebound, we go short again~
Then Bitcoin has rebounded by 10%. As shown in the chart, on Friday when Bitcoin was at 83,000, Shu Qin suggested that everyone buy the dip as it was nearing 80,000, saying it could rebound to close to 90,000. Now that 80,000 has been reached, 90,000 is also almost there, it's already at 88,000. I think it's possible to start positioning some long-term shorting.
After all, Bitcoin will drop to 50,000 or 60,000 next year, so your long positions at 88,000 and 90,000 are actually quite similar; keep in mind this is for the long term. For high-leverage shorting, it’s better to be more stable. Currently, there are two resistance levels for BTC at around 88,000 and 90,000 for shorting.
However, shorting is not as 100% clear as long-term strategies, because there is still no definitive conclusion on whether the Federal Reserve will lower interest rates. The uncertainty in the short term is quite large. If the Federal Reserve lowers interest rates, then Bitcoin may continue to rebound until just before the rate cut, and the strength of the rebound will be even greater.
So we need to be well prepared for both sides. Shuqin has placed 1x long-term short positions in batches at around ETH 2900-3000 and near 3300. Get in as many as you can, hold them long-term. I'm not greedy for multiples; even if I earn a lot, I can't spend it all. The bear market has just begun, but let me tell you, this bear market actually belongs to us, the shorting forces' big bear market!