Copy Trading Master’s Winning Strategies Review — Episode 33
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 DOGE with 10x leverage on cross mode, opening at 0.21585 USDT, closing at 0.19 USDT, achieving a profit of +119.78%. See the image below:
3. Trade Review
3.1 Market Background
On March 27th, Federal Reserve Governor Waller stated that there was no need to rush interest rate cuts, emphasizing that recent U.S. economic data suggested delaying or reducing the number of cuts this year. Waller used the phrase “no need to rush” four times, including in the title of his speech.
On March 28th, the U.S. Department of Commerce released the final annualized quarter-over-quarter GDP growth rate for Q4, unexpectedly revising it upward to 3.4% from a previous of 3.2%. This revision was mainly due to upward adjustments in consumer and government spending and business investments, although downgrades in inventory investment and exports offset some of the gains.
On April 1st, the U.S. ISM Manufacturing Index for March exceeded expectations, rebounding to 50.3 — the first time above 50.00 since September 2022, marking a return to expansion after 16 months of contraction.
On April 3rd, the U.S. ADP Employment Report showed that employment increased by 184,000 in March, surpassing expectations of 150,000, with a previous figure at 140,000.
On April 5th, the U.S. Department of Labor reported that non-farm employment in March unexpectedly surged by 303,000, the largest increase since May of last year, which not only far exceeding the median expectation of 214,000 but also surpassing all analyst forecasts.
The U.S. unemployment rate in March was 3.8%, meeting expectations and slightly down from the previous 3.9%. This rate has now remained below 4% for 26 consecutive months, the longest streak since the late 1960s.
Strong employment reports have led most Wall Street analysts to believe that the Fed might delay cutting interest rates this year, or even consider raising them. Many analysts think that strong job data, under high interest rates, conflicts with calls for rate cuts, potentially giving the Fed more reason to slow down on cuts and maintain higher rates for a longer period.
3.2 Trade Analysis
From April 1st to April 7th, Bitcoin’s 4-hour chart showed high-level consolidation followed by a rapid decline, then a rebound, as depicted below:
On April 1st, the 4-hour chart showed a bearish divergence in the MACD indicator and a potential breakdown from a rectangular pattern. Following this, Bitcoin broke below $70,000, leading to a broad market decline. Subsequently, Bitcoin prices oscillated widely between $64,500 and $66,000. On April 4th, Bitcoin surged rapidly, breaking above $67,000 and reaching near $72,000.
On March 20th, the market began to speculate that “the U.S. CFTC will not oppose Coinbase Exchange’s application for DOGE, LTC, and BCH derivative products, and these three altcoins will be designated as commodities on April 1st. These altcoins have officially escaped SEC control and will be subject to more lenient regulation by the CFTC.”
Subsequently, BCH and LTC surged strongly, and DOGE also rose from $0.13 to near $0.22. After significant gains in the short term and rising above $0.22, DOGE began to decline, making it a suitable time to open short positions.
On April 7th, Bitcoin showed strength. At this point, the price of DOGE rose to $0.19, about to break through upwards. On the hourly chart, the MACD showed a bullish divergence. On the same day, the cryptocurrency market continued to rebound sharply following Bitcoin; DOGE rose to the upper edge of its trading box, forming a ‘W’ pattern. Near $0.19, positions were closed out. See image:
3.3 Winning Strategies Summary
In swing trading, it is crucial to manage trades by capturing profits timely and cutting losses early to let profits run.
Note: Personal opinion, for reference only. Opportunities and risks abound, always do your research before investing.
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