Copy Trading Master’s Winning Strategies Review — Episode 32
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
Short DOGEUSDT with 20x leverage on cross mode, opening at 0.21589 USDT, closing at 0.19178 USDT, achieving a profit of +223.36%. See the image below:
3. Trade Review
3.1 Market Background
On March 20th, following the FOMC meeting, the Federal Reserve announced the target range for the federal funds rate remains unchanged at 5.25% to 5.50%, maintaining the policy rate at a two-decade high since last July’s hike.
On the same day, Fed Chair Powell reiterated that interest rates are at a cyclical peak and that easing within the year is appropriate, yet emphasized inflation remains “too high,” and the FOMC policy rate won’t fall to very low levels, hinting at a slower pace of balance sheet reduction.
On March 27th, Fed Governor Waller stated there’s no rush to cut rates, emphasizing recent U.S. economic data suggests delaying or reducing the number of rate cuts this year. Waller used the phrase “no need to hurry” four times in his speech, including its title.
On March 28th, the U.S. Department of Commerce reported the final value for the annualized quarter-over-quarter GDP growth rate in Q4, unexpectedly revised up to 3.4% from 3.2%. The upward revision was mainly due to higher consumer and government spending and business investment, although adjustments in inventory investment and exports offset some gains.
On April 1st, Monday, the published U.S. March ISM Manufacturing Index unexpectedly rose to 50.3, breaching 50.00 for the first time since September 2022, signaling a return to expansion after 16 consecutive months of contraction.
Following Fed Chair Powell’s reaffirmation on Friday not to rush rate cuts, manufacturing data strengthened market expectations that the Fed was in no hurry to cut interest rates, with market expectations of a Fed rate cut in June falling to less than 50%.
3.2 Trade Analysis
From March 25th to April 2nd, Bitcoin’s 4-hour chart depicted a quick drop after a continuous rise and high-level consolidation. See below:
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 cryptocurrency market rose. Subsequently, the price of Bitcoin fluctuated widely between $69,000 and $72,000. On April 1st, Bitcoin quickly fell below $71,000, hitting a low of $69,500.
On March 20th, the market speculated that “the U.S. CFTC would not object to Coinbase’s application for DOGE, LTC, and BCH derivatives before April 1st, marking these altcoins as commodities and officially removing them from SEC’s jurisdiction, to be governed more leniently by the CFTC.”
Following this, BCH and LTC surged, with DOGE also rising from $0.13 to near $0.22. Short-term gains had already accumulated significantly.
On April 1st, Bitcoin showed weakness, fluctuating narrowly around $70,000. During this period, the price of DOGE rose above $0.22 before starting to decline, prompting a short position. The hourly chart indicated a bearish divergence on the MACD, suggesting it was a good time to go short. Subsequently, as the cryptocurrency market rapidly fell along with BTC, and DOGE dropped to the lower edge of its trading range, forming a topping pattern. The next day, as BTC quickly broke below $69,000, DOGE plummeted, closing the short position around $0.19. See the chart below:
3.3 Winning Strategies Summary
With the trading of Bitcoin ETFs, market volatility has increased. Swing traders must be vigilant of speculative anticipation and adapt promptly to market fluctuations.
Note: Personal opinion, for reference only. Opportunities and risks abound, always do your research before investing.
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