Copy Trading Master’s Winning Strategies Review — Episode 28
Easy Follow, Smart Trade! Discover the winning strategies of our popular traders.
- Copy Trading Master’s Introduction
User Nickname: Online
Trader’s Profile: https://www.lbank.com/zh-TW/copy-trading/lead-trader/?id=LBA3D77455
Trading Style: Swing Trading
2. Trade Operation Recap
Short ETHUSDT with 50x leverage on cross mode, opening at 3,773.84 USDT, closing at 3,531.82 USDT, achieving a profit of +320.65%. As shown below:
3. Trade Review
3.1 Market Background
On February 13, the U.S. Bureau of Labor Statistics released the January CPI data, which exceeded expectations across the board. The CPI rose by 3.1% year-over-year, surpassing the anticipated 2.9% increase, and the monthly increase was 0.3%, above the 0.2% forecast. The core CPI also outpaced projections with a 3.9% year-over-year increase.
Subsequently, on February 27, data from the U.S. Commerce Department indicated a 6.1% month-over-month decline in durable goods orders for January, marking the steepest decrease since April 2020 and undershooting the -5% expectation. This significant drop in durable goods orders hinted at potential headwinds for manufacturing and a broader economic slowdown.
On March 5th, data released by the U.S. Institute for Supply Management (ISM) indicated a slowdown in the expansion rate of the U.S. service sector for February. This deceleration was partly attributed to employment indicators, alongside a noticeable drop in the prices paid index, while orders and business activities showed an increase.
The U.S. ISM Services Index for February stood at 52.6, falling short of the expected 53 and down from January’s value of 53.4. The index level of 50 marks the boundary between expansion and contraction. The U.S. ISM Services PMI has remained above this critical threshold of 50 for over a year.
On the same day, the final value of the U.S. Markit Services PMI for February was reported at 52.3, marking the lowest final figure since December 2023, yet it continued to expand for the 13th consecutive month. Meanwhile, the U.S. Markit Composite PMI final value for February reached 52.5, achieving its highest final figure since June 2023 and also expanding for the 13th straight month.
3.2 Trade Analysis
From March 1 to March 6, Bitcoin’s four-hour chart depicted a rapid decline after a continuous rise, followed by an oversold rebound, as shown below:
On the daily chart, Bitcoin reached a new all-time high of $69,000 on March 5 before plunging to a low of $59,000, subsequently initiating a rebound from the oversold conditions.
On March 5th, ETH witnessed a significant surge, reaching prices above $3,830. As Bitcoin swiftly broke below the $69,000 mark, it was an opportune moment to open short positions on ETH.
During the same day, as the U.S. stock markets opened, Bitcoin ETFs experienced a collective downturn, with short-term declines exceeding 1%. This event triggered the first quick pullback in the cryptocurrency market. Bitcoin’s price subsequently suffered a steep decline from its high, with the maximum drop surpassing -8%. In the Asian trading session, the market started to rebound.
In the 15-minute chart, when the ETH price rebounded to around $3,600, it started to decline. Prices then entered a period of consolidation around the BOLL middle band. On the same day, Layer 2 tokens such as OP and STRK saw significant increases. The hype around the ETH Cancun upgrade was quite active. At this point, it was time to close the positions and exit the market, as illustrated in the chart:
3.3 Winning Strategies Summary
In swing trading, it is vital to pay attention to market sentiment shifts and pivot points for timely profit-taking.
Note: Personal opinion, for reference only. Opportunities and risks abound, always do your research before investing.
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