There are losses and profits in trading. Remember not to go all-in, and those who hold are kings.
- BTC Market Analysis
In evaluating the market trends 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 retrace 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.
- Monthly Trading Report
After the ftx scam incident, I rarely got liquidated and have been consistently trading. Yesterday, I went long on $WLB with 10x leverage, which resulted in a loss of around $1,500, so I will remember this again. The monthly profit in July was around $10,000. The main gains were from timing the 3x leverage on $agld (didn't fully capitalize, exited early) and the 2x leverage on $storj (also didn't fully capitalize). Overall, this month I flipped my spot position from $15,000 to $30,000. Subsequently, I gradually lost money on various coins, with a drawdown of about $4,000.
The WLB liquidation confirms a saying: it's better to go long with 1x leverage for altcoins.
- 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.
Based on the daily chart data on July 25, excluding MEME coins like PEPE, SHIB, FLOKI, etc., XEC has consistently ranked high in terms of volume.
The daily chart trend is also more volatile.
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, this is a long-term investment target)
3.3 WLD
Sorting descending by "Number of Trades," $WLD ranks third today. The trading volume is active, and currently, I have changed my strategy and put in $5,000 using the spot grid trading method.
- 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 still cause altcoins to collapse.
In the future, I will share some unique trading insights. In terms of capital and expertise, I can only be considered a small retail investor. If there are different opinions, please be kind and let's discuss together.