Interpretation of cryptocurrency market on February 2, 2023
The Federal Reserve raised interest rates by 25 basis points this morning, in line with market expectations. The market did not experience much volatility. Powell then continued to make hawkish remarks but spoke of the same old story of not relaxing too soon. The strength of the expected management did not escalate, and the market chose to ignore the direct surge.
In the early morning, the BKEX Institute made a specific error in its judgment of the short-term market. The market did not fall, but the overall strategy developed hedged losses. As mentioned many times before, both the long and short term is long, and the lack of a decline is just a missed opportunity to take a low long position. There are long-term positions to protect the bottom, and profits are still increasing.
The follow-up operation idea can stay the same. The only difference is that the short-term position requires a slightly greater risk of chasing more operations. If the last rise is only to repair the impact of the FTX, then the subsequent rise again is a natural bullish wave. You can control the risk associated with chasing higher by appropriately reducing leverage and setting a manageable stop loss.
In the early morning, the BKEX Institute made a specific error in its judgment of the short-term market. The market did not fall, but the overall strategy developed hedged losses. As mentioned many times before, both the long and short term is long, and the lack of a decline is just a missed opportunity to take a low long position. There are long-term positions to protect the bottom, and profits are still increasing.
The follow-up operation idea can stay the same. The only difference is that the short-term position requires a slightly greater risk of chasing more operations. If the last rise is only to repair the impact of the FTX, then the subsequent rise again is a natural bullish wave. You can control the risk associated with chasing higher by appropriately reducing leverage and setting a manageable stop loss.