Copy Trading Master’s Winning Strategies Review — Episode 31
Easy Follow, Smart Trade! Discover the winning strategies of our popular traders.
- Copy Trading Master’s Introduction
User Nickname: BlingBling~
Trader’s Profile: https://www.lbank.com/copy-trading/lead-trader?id=LBA3D77565
Trading Style: Swing Trading
2. Trade Operation Recap
Long NEARUSDT with 10x leverage on cross mode, opening at 7.22 USDT, closing at 7.928 USDT, achieving a profit of +98.06%. See the image below:
3. Trade Review
3.1 Market Background
On March 12th, data released by the U.S. Labor Department showed that the U.S. CPI rose by 3.2% year-on-year in February, higher than the previous and expected 3.1%, reaching a new high since December 2023; the month-on-month CPI rose by 0.4%, consistent with expectations, but higher than the previous 0.3%, indicating a rebound in U.S. inflation and a reacceleration.
On Thursday, March 14th, data from the U.S. Labor Department showed that the U.S. PPI exceeded expectations, rising by 1.6% year-on-year in February, up from 1.2% previously, far exceeding the expected 0.9%; the month-on-month PPI accelerated by 0.6%, doubled the expected value, up from 0.3% previously.
On March 19th, the Bank of Japan announced its latest interest rate decision, raising the benchmark rate from -0.1% to 0–0.1%, marking the first rate hike since 2007 and ending the era of eight years of negative interest rates.
On March 20th, following the FOMC meeting, the Federal Reserve announced that the target range for the federal funds rate would remain at 5.25% to 5.50%. Since the rate hike in July last year, the Fed has kept this policy rate at a high level for over twenty years.
On the same day, Fed Chair Powell reiterated during a press conference that interest rates are at a cyclical peak and that it would be appropriate to begin easing at some point this year, but also emphasized that inflation is “still too high” and that the FOMC policy rate will not fall to very low levels. He also hinted at slowing the pace of balance sheet reduction.
Economic data released by the United States in March indicated that inflation was more resilient than expected; coupled with the rate hike by the Bank of Japan, global liquidity tightened. Subsequently released minutes from the Fed’s interest rate meeting showed that the target range for the federal funds rate in the United States remained unchanged, with a high probability of three rate cuts within the year. This also laid the foundation for oversold rebound in the cryptocurrency market later.
3.2 Trade Analysis
From March 1 to March 27, the Bitcoin 4-hour chart showed a rapid increase followed by a quick decline and subsequent rebound, as shown below:
On the 4-hour chart, Bitcoin rose to $73,000 on March 14 and then continued to fall. From its peak, it dropped over $10,000, and by March 20, Bitcoin hit a low of $61,000 before starting a significant oversold rebound.
On March 24th, on the 4-hour cycle of Bitcoin, the MACD indicator showed a bullish divergence, and a triangular pattern was about to break through. On March 25th, Bitcoin broke through $66,000, and the entire cryptocurrency market seen rise.
On the same day, after NEAR broke through the downtrend line, the price continued to rise. When the price reached around $7, the overhead resistance was quickly broken. At this point, it was time to open a long position in NEAR.
On March 26th, Bitcoin plummeted before the U.S. stock market closed, with prices dropping from $71,000 to $69,500. In the short term, BTC had completed the oversold rebound. At this point, close the position and exit near $8. See the image below:
On March 26th, Bitcoin plummeted before the U.S. stock market closed, with prices dropping from $71,000 to $69,500. In the short term, BTC completed the oversold rebound. At this point, it was time to close the position and exit near $8. See the image below:
3.3 Winning Strategies Summary
In swing trading, attention should be paid to the impact of altcoins and BTC linkage.
Note: Personal opinion, for reference only. Opportunities and risks abound, always do your research before investing.
Click here to download for iOS or Android
Website: https://www.lbank.com/
Twitter: https://twitter.com/LBank_Exchange
Facebook: https://www.facebook.com/LBank.info/
YouTube: https://www.youtube.com/c/LBankExchange
Telegram: https://t.me/LBank_en
LinkedIn: https://www.linkedin.com/company/lbank
Medium: https://medium.com/LBank
Reddit: https://www.reddit.com/r/LBank2021/
