Copy Trading Master’s Winning Strategies Review — Episode 48
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 TIA with 10x leverage, opening at 5.4567 USDT, closing at 6.6599 USDT, achieving a profit of +220.49%. As shown below:
3. Trade Review
3.1 Market Background
On June 24th, new developments emerged in the Mt.Gox case. The Mt.Gox compensation trustee announced that preparations for repayments in BTC and BCH were complete. The trustee will begin repayments to cryptocurrency exchanges that have completed the necessary information exchange and confirmation at the appropriate time, starting in early July 2024.
On July 3rd, the Wednesday meeting minutes showed that at the last Federal Reserve Open Market Committee (FOMC) meeting on June 12th, Fed officials pointed out that progress in reducing inflation this year has been slower than expected since December last year. They emphasized that rate cuts would be inappropriate unless they had more confidence that inflation could continue to fall to the Fed’s target.
On July 5th, the U.S. Department of Labor reported that the June non-farm payroll growth was 206,000 jobs, exceeding expectations but significantly lower than the previous month’s 272,000 jobs. Despite the better-than-expected increase in nonfarm payrolls in June, the unemployment rate unexpectedly rose to its highest level in two and a half years, indicating a substantial cooling in the labor market.
3.2 Trade Analysis
From June 1st to July 11th, the Bitcoin 4-hour chart showed high volatility with price declines followed by a failed rebound and a subsequent sharp bounce. See image below:
On July 3rd, the released minutes of the Fed’s June meeting showed that Fed officials discussed the outlook for monetary policy, pointing out that progress in reducing inflation this year has been slower than expected since December last year. They emphasized that rate cuts would be inappropriate unless they had more confidence that inflation could continue to fall to the Fed’s target. Renowned financial journalist Nick Timiraos titled his article “Fed Officials Signal No Rush to Cut Rates.”
On July 5th, data released by the U.S. Department of Labor showed that U.S. nonfarm payrolls increased by 206,000 in June, significantly down from the previous figure of 272,000. Although the increase exceeded Wall Street’s expectations, it marked a substantial decline from May, with the unemployment rate unexpectedly rising to its highest level in two and a half years, indicating a significant cooling in the labor market.
On July 6th, TIA followed a market rebound. Despite a pullback in Bitcoin, TIA resisted declines. On the 4-hour chart, there was a bullish breakout from a trend line, suggesting a good entry point for a long position on TIA.
Subsequently, as the market stabilized, TIA began to surge again. However, after breaking above $7, the price stalled and started to fall, prompting a closure of the position. See image below:
3.3 Winning Strategies Summary
Since June, the market trend has been weak, with mainstream cryptocurrencies slowly declining and market confidence at a low. On July 1st, the cryptocurrency market began a rebound, but the market fell again before rebounding on July 5th.
In a bearish market, it is advisable to prioritize cryptocurrencies that show clear trends and resistance to declines.
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