Viewpoint: 0622 Bitcoin temporarily bottomed out and a big rebound is coming. The rebound may reach around 4660

Bitcoin plummeted today to around 4180, but it has temporarily bottomed out and a big rebound is coming. Please note that the bottoming out is only temporary.

The plunge in Bitcoin now seems very similar to last year's stock market crash, it's almost a replica.

The stock market reached a high of 5174 on June 15 last year, and Bitcoin reached a high of around 5180 on June 17. The month and date were almost the same, and the price was also almost the same.

The stock market fell from 5174 in the first wave to 4264, and Bitcoin fell from 5180 in the first wave to 4202, which is about the same.

Currently, Bitcoin can rebound to around 4660.

If Bitcoin repeats the trend of the domestic stock market, there will be no double top on the daily line. Since the stock market has been falling from 5176, the highest point of the rebound is 4720.

Bitcoin plummeted from 5185 to 4180 in a very short time. Many people did not have time to react and were caught off guard.

Before we place an order, few people will anticipate the worst case scenario. Most people just place an order while holding a calculator to calculate what target they will reach and how much profit they will make. Looking at the numbers on the calculator, they start to get excited, as if the profit is already in their pocket.

Feeling that it was not enough, I raised the target again and calculated the profit once again. Looking at the extra profit, I was so excited that I almost danced with joy. I started to think about what to buy with the profit, such as buying a car or a house.

When we have never thought of the worst-case scenario, once it comes, we are stunned and unable to accept it for a moment. We are psychologically panicked and terrified, and then we sell our stocks in a panic.

As for the price going up again, don’t worry about it and sell it immediately. Trading is no longer for trading, but to calm the psychological panic and fear.

Prepare for the worst-case scenario for every transaction so that you can overcome your fear and not trade just to eliminate it.

Trading without overcoming the influence of emotions, such as fear and excitement, will not be profitable because, quite simply, your trading is based entirely on emotion, and emotions are irrational.

To overcome these fears and panic, it is best to set a stop loss price before placing an order, and then anticipate whether you can accept the loss if the stop loss occurs.

If possible, then you won't panic or be completely controlled by your emotions.

When a person places an order and calculates the profit, it is obvious that he has not yet started trading. This type of person only thinks about situations that are beneficial to him and the best situation. Even if he is deeply trapped, he only thinks that the price will return to his cost price.

Even if a veteran makes the right judgment, he is still thinking about how much money he will lose if he is wrong and what the maximum tolerable loss is, and then sets a stop loss.

Solemn statement: The above analysis is for reference only and is not intended as any investment advice, nor as a basis for operation. Anyone who uses this as the basis for placing an order is responsible for their own profits and losses.