Copy Trading Master’s Winning Strategies Review — Episode 45
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 ETH with 50x leverage on cross mode, opening at 3417.07 USDT, closing at 3550.55 USDT, achieving a profit of +195.31%. As shown below:
3. Trade Review
3.1 Market Background
On June 6th, the European Central Bank announced a 25 basis point rate cut, the first since 2019, making it the second G7 central bank to cut rates, following the Bank of Canada’s rate cut on June 5th.
On June 7th, the U.S. reported an increase of 272,000 non-farm payrolls for May, exceeding expectations by 92,000. Average hourly earnings grew 4.1% year-over-year, faster than the expected 3.9%, with a month-over-month increase of 0.4%. However, the unemployment rate unexpectedly rose to 4.0%, the highest in over two years.
On June 12th, the U.S. Bureau of Labor Statistics released data showing that the May CPI rose by 3.3% year-over-year, slightly below the expected 3.4%; the month-over-month CPI was 0%, below the expected 0.1% and the lowest since July 2022. Energy prices were the main drag on the CPI.
On the same day, the Federal Reserve announced at its FOMC meeting that the target range for the federal funds rate would remain at 5.25% to 5.50%, in line with market expectations. In the subsequent press conference, Fed Chair Powell stated that the economy has made significant progress in terms of employment and inflation. However, he noted that although inflation has slowed substantially, it remains too high, and the inflation data so far this year is not sufficient to give the Fed confidence to cut rates.
3.2 Trade Analysis
From June 7th to June 20th, the 4-hour Bitcoin chart shows prices oscillating at high levels before starting to decline, with the downtrend yet to stabilize, as shown in the following chart:
On June 7th, the U.S. reported that non-farm payrolls increased by 272,000 in May, surpassing expectations by 92,000; however, the unemployment rate rose to 4.0% for the first time in over two years. The unexpectedly strong jobs data caused a significant drop in the cryptocurrency market.
On June 12th, the U.S. Bureau of Labor Statistics announced that the May CPI rose by 3.3% year-over-year, below the expected 3.4%. On the same day, the Federal Reserve’s FOMC kept the federal funds rate unchanged but released a “dot plot” indicating only one rate cut this year, contrary to market expectations of at least two cuts. This led to a sharp rise followed by a steep decline in the cryptocurrency market on the same day.
On June 18th, ConsenSys announced on social media platform X that the SEC’s enforcement division had informed them it would be ending its investigation into Ethereum 2.0, meaning the SEC would not classify the sale of Ethereum as a securities transaction.
On June 18th, the 1-hour chart for ETH showed a halt in its decline. The prolonged downtrend had left the cryptocurrency market sentiment low, with a sense of uncertainty and confusion prevailing. The conclusion of the SEC’s investigation into Ethereum 2.0 removed a significant legal hurdle for the future launch of an Ethereum spot ETF. Based on this assessment, a long position was initiated.
Subsequently, Bitwise submitted a revised S-1 filing for its Ethereum spot ETF to the SEC, leading to a gradual increase in ETH’s price. Following this, Ethereum ecosystem tokens such as ENS, LDO, MKR, and OP began to surge rapidly, and the market sentiment started to improve.
On June 19th, the price of Ethereum rose to around $3,580 and then began to consolidate. On June 20th, ETH attempted to break through $3,600 but failed, resulting in a candlestick with a long upper shadow. Based on the technical pattern, the long position was closed. As shown below:
3.3 Winning Strategies Summary
During periods of market weakness, with major cryptocurrencies slowly declining and altcoins experiencing rapid drops, market confidence tends to be low. In such times, sticking to your investment strategy, avoiding panic selling, and patiently waiting for opportunities are crucial for success.
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