Hold Bitcoin Mid-Term Short Positions, HYPE Successfully Rides the Wave for Profits | Guest Analysis
Bitcoin Mid-Term Short Hold Maintained, HYPE Successfully Captures Profits | Guest Analysis
In this market analysis, analyst Cody reviews the past week's cryptocurrency performance. For Bitcoin, the overall weak bearish trend continued. A previously established mid-term short position (1x leverage) opened at $89,000 remains held, currently showing an unrealized profit of approximately 26.10% as the price fell to around $65,770. A separate short-term short trade was executed, yielding a 2.12% gain.
The primary view is that Bitcoin is undergoing a C-2 wave rebound within a larger corrective structure. The price is expected to continue oscillating within a range, with key resistance between $68,500-$72,300 and crucial support near $60,000-$62,500. The core trading strategy remains "selling on rallies."
Significant focus is placed on HYPE, which is analyzed using Elliott Wave Theory. The analysis posits that HYPE completed its Wave I rise and Wave II correction and is now in the early stages of a potent Wave III advance. A recent short-term long trade (1x leverage) on HYPE capitalized on this move, generating an 11.14% profit. The wave count and breakout from key descending trendline are cited as evidence for this bullish outlook.
The weekly strategy involves holding a 60% mid-term Bitcoin short position. For short-term trades, 30% of capital is allocated to scalp "price differences" based on support/resistance levels and proprietary quantitative models (Momentum and Price-Spread), following a strict principle of "going with the trend and selling high." Detailed A/B plans are provided for entering additional short positions on bounces toward $70,000-$72,300 (Plan A) or $74,500 (Plan B), complete with precise entry, stop-loss, and a dynamic trailing stop protocol to lock in profits. A strong disclaimer cautions that all analysis is for personal use and not investment advice.
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