There are losses and profits in trading. Remember not to go all-in, and the one who holds is the king.
1. BTC Market Analysis#
When evaluating the market situation of Bitcoin (BTC), we can see that although the daily chart still shows a downward trend, from a long-term perspective, I still hold an optimistic bullish view. The range of downward volatility may not expand too much, and personally, I foresee that the deepest decline may pull back to 28,000, and then we will have the opportunity to find a trend reversal at this point and move towards a bullish direction again. In addition, when the Bitcoin price approaches the 36,500 level again, we may need to be cautious, as this may be a key range where we face upward pressure again.
2. Monthly Trading Report#
After the ftx run incident, I rarely got liquidated and have been trading steadily. Yesterday, I went long on $WLB with 10x leverage, which led to a loss of about $1500, and I want to remember this again. The monthly profit for July was about $10,000. The main gains were from timing the 3x leverage on $agld (didn't fully capture it, exited early) and the 2x leverage on $storj (also didn't fully capture it). Both were profitable trades. Overall, this month, I increased my spot position from $15,000 to $30,000. Subsequently, I suffered losses in various coins, with a drawdown of about $4,000.
The WLB liquidation proves a saying: it's still better to go long with 1x leverage for altcoins.
3. Altcoin Market#
Recently, compared to Bitcoin, altcoins seem to provide us with more trading opportunities.
3.1 XEC#
At the end of the month, I opened a position in XEC.
Looking at the daily chart data on July 25, excluding MEME coins like PEPE, SHIB, and FLOKI, XEC's volume has consistently ranked high.
The daily chart also shows more volatile movements.
3.2 LINK#
There's not much to say about the trend of $LINK, see the detailed chart below.
The whales have been accumulating for a long time, waiting for the flowers to bloom. It is said to be the engine of the last bull market. There is still 1 year until the next BTC halving, hoping that this round will still be the engine of a bull market. (Don't be too anxious to build positions, this is a long-term asset to buy)
3.3 WLD#
Sort Descending By Number of Trades, $WLD ranks third today. The trading volume is active, and I have changed my strategy to use spot grid trading with an initial investment of $5,000.
4. Final Words#
The bull market has not arrived yet, so be cautious when going long on altcoins, as a black swan event in the overall market may cause a collapse in altcoins.
In the future, I will share some unique trading insights. In terms of capital and expertise, I can only be considered a small retail trader. If you have different opinions, please be kind and let's discuss together.