Copy Trading Master’s Winning Strategies Review — Episode 40

LBank Exchange
3 min readMay 17, 2024

Easy Follow, Smart Trade! Discover the winning strategies of our popular traders.

  1. Copy Trading Master’s Introduction

User Nickname: BlingBling~

Trader’s Profile:

Trading Style: Swing Trading

2. Trade Operation Recap

Long BNBUSDT with 20x leverage on cross mode, opening at 553.01 USDT, closing at 596.89 USDT, achieving a profit of +158.69%. As shown below:

3. Trade Review

3.1 Market Background

On April 20th, Bitcoin completed its fourth halving, leading the cryptocurrency market to rebound for two consecutive days before trending down.

On April 30th, the Hong Kong capital market witnessed a historic event with the listing of Bitcoin and Ethereum spot ETFs.

On May 3rd, the U.S. Department of Labor released data showing that U.S. April nonfarm employment increased by 175,000, significantly below the expected 240,000, with March’s figure revised upwards from 303,000 to 315,000. This marked the largest discrepancy from expectations since December 2021.

The U.S. unemployment rate for April stood at 3.9%, slightly higher than the expected 3.8% and the previous 3.8%, roughly the highest level since January 2022.

On May 8th, the U.S. House of Representatives passed a resolution overturning the SEC’s announcement regarding cryptocurrency accounting standards, with a vote of 228–182, showing clear partisan divides. The White House preemptively announced that it would veto the resolution if passed.

Since early April, strong U.S. employment and stubborn inflation data have been released, causing continuous declines in U.S. stock indices and the cryptocurrency market. Following the release of “U.S. April Employment Data” that exceeded expectations in early May, both the U.S. stock market and the cryptocurrency market experienced significant reversals.

3.2 Trade Analysis

From April 7th to May 14th, Bitcoin’s 4-hour chart depicted a high-price decline along the trend line, followed by a sharp drop and rebound. See image below:

On April 29th, Bitcoin prices fluctuated narrowly between 61,600 and 61,500 USD, showing overall weakness in the crypto market. After the U.S. stock market opened that day, Bitcoin experienced a sharp drop followed by a quick rise. It then stabilized above 62,500 USD, reaching as high as 64,500 USD. The next day, the cryptocurrency market saw a significant drop, with Bitcoin falling to around 57,000 USD.

Before the U.S. stock market opened on May 1st, the announcement that “U.S. April ADP employment increased by 192,000, higher than the expected 180,000” failed to significantly impact the crypto market. Despite prevailing bearish sentiment, BTC did not decline further.

On the same day, BNB was oscillating around 550 USD, finding support at 540 USD. On the 1-hour chart, BNB formed a ‘W’ bottom with a bullish MACD divergence, prompting the opening of a long position. BNB then began a slow ascent. Subsequently, as Bitcoin quickly rose, the entire cryptocurrency market surged. On May 9th, BNB peaked at 606 USD, then fluctuated between 580–600 USD. On May 13th, as BNB entered a triangular consolidation pattern and Bitcoin began to recede from its highs, positions were closed around 590 USD. See image below:

3.3 Winning Strategies Summary

The cryptocurrency market often follows the volatility of the U.S. stock market, while altcoins tend to follow Bitcoin’s fluctuations. Timing can vary, occurring either in advance, simultaneously, or with a delay.

In swing trading, once a stop-loss is set, it should not be changed, while profit-taking can be staged according to market fluctuations.