Copy Trading Master’s Winning Strategies Review — Episode 46
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 NEAR with 10x leverage, opening at 4.914 USDT, closing at 5.56 USDT, achieving a profit of +131.46%. As shown below:
3. Trade Review
3.1 Market Background
On June 7th, U.S. non-farm payrolls for May exceeded expectations with a gain of 272,000 jobs, with average hourly earnings growing by 4.1%, not stabilizing as expected at April’s 3.9%, and the unemployment rate unexpectedly rising for the first time in over two years to 4.0%.
On June 12th, the U.S. Bureau of Labor Statistics reported that the U.S. CPI for May grew by 3.3% year-over-year, slightly below the expected and previous figure of 3.4%; the month-over-month CPI growth was 0%, lower than the expected 0.1% and represents the lowest level since July 2022. Energy prices continued to be the primary drag on the month-over-month CPI increase.
On the same day, the Federal Reserve’s FOMC announced that the federal funds rate target range would remain at 5.25% to 5.50%, as expected by the market. Chairman Powell remarked that despite significant progress in employment and inflation, inflation was still too high and the data to date were not yet sufficient to give the Fed confidence to cut rates.
On June 18th, ConsenSys announced on social media platform X that Ethereum developers, technology providers, and industry participants had achieved a major victory. The SEC’s enforcement division 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.
3.2 Trade Analysis
From June 10th to June 25th, Bitcoin’s 4-hour chart showed high volatility with declines, and the bottom had not been fully confirmed. See image below:
On Tuesday, June 18th, Nvidia’s stock price closed up 3.51% at $135.58, reaching a market cap of $3.335 trillion, a new record high. This milestone surpassed both Microsoft and Apple, making Nvidia the highest-valued company globally. This leap in market value underscores the market potential of AI technology and the significant interest from investors.
The enthusiasm for Nvidia in the U.S. stock market is likely to extend to the cryptocurrency sector. Based on this assumption, it seemed prudent to go long on AI-related cryptocurrencies.
On June 19th, after a continuous decline, NEAR showed a brief V-shaped reversal and was bought at a rally to a previous high. Subsequently, NEAR’s price increased and then entered a consolidation phase.
From June 20th to June 25th, NEAR’s price oscillated repeatedly. When the price broke above $5.4, the consolidation phase was broken. However, the price did not continue to rise significantly afterward, and the position was closed, as shown below:
3.3 Winning Strategies Summary
Over the past two weeks, the market has been weak, with major coins slowly declining and market confidence low. The cautious sentiment among investors led to continued sluggishness in the market. In a weak market, it’s advisable to observe more and act less. Short-term recovery opportunities will appear, and trades should be executed quickly with lowered expectations.
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/
