The current market situation for #Bitcoin is quite straightforward. Despite widespread pessimism and bearish sentiment, the support level at 107,300 has successfully withstood two pressure tests on a daily chart basis and has stabilized with a rebound.
On the macro front, although Powell's comments have cast a shadow, whether there will be an interest rate cut in December still presents room for speculation. Additionally, upcoming events such as the government shutdown resolution and the pause of QT (Quantitative Tightening) will contribute to liquidity recovery. Therefore, if the market can withstand current pressures, it may continue to see upward momentum.
Over the weekend, the overall market trend was focused on defending the 107,300 level effectively while observing how the #BTC price breaks through and stabilizes above the daily MA200 trend line at 109,500, followed by attempts to break and stabilize at the 111,300 mark.
My long positions and short-term spot holdings remain unchanged, with both unrealized gains and losses. Some might question my strategy, suggesting that I should have exited when the price rebounded to 116,000 to capture one leg of the move.
I can only say that such short-term trading does not suit my style, as I am not a professional trader. From my perspective, my target to take profit for this long position lies between 119,000 and 121,700. Any fluctuations during this period will not sway my view.
Additionally, the previous decline to the 116,000 level due to unexpected macroeconomic news causing a price drop was something I did not anticipate. There was nothing I could do about it.
Why didn't I take profit during that period? Because if I had taken profit near 116,000, I wouldn't have been confident about waiting for what I consider an appropriate position to re-enter the market.
In fact, many people find it not difficult to sell after making a profit. Without discussing selling...