Copy Trading Master’s Winning Strategies Review — Episode 2 | by LBank Listings&Projects | LBank | Sep, 2023

From the LBank blog.

Easy Follow, Smart Trade! Discover the winning strategies of our popular traders.

  1. Copy Trading Master’s Introduction

User ID: LBA2D56022

Trader’s Profile:

Trading Style: Hedge Arbitrage, Swing Trading

2. Trade Operation Recap

Shorting ETHUSDT with 50x leverage, opening at $1645.58 USDT, closing at $1618.34 USDT, achieving a single-trade profit rate of +82.76%. See the chart below:

3. Trade Review

3.1 Market Background

On September 1st, the SEC prematurely announced a delay in decisions regarding the filings of seven Bitcoin ETFs, including BlackRock. The market had priced in Bitcoin stability at around $30,000 when considering the BlackRock ETF. Currently, the excitement has diminished, and the recent Grayscale victory does not guarantee a successful ETF conversion. The market lacks substantial positive news to support Bitcoin prices moving higher.

BTC 4-hour chart, as follows:

3.2 Trade Analysis

On the 4-hour ETH chart, MACD bearish momentum continued to increase without clear signs of a turnaround, indicating a continuation of the downtrend with support at $1919. See below:

On the 30-minute chart, ETH rebounded to around $1650 but encountered resistance, with MACD bullish momentum steadily decreasing. Shorting ETH began, with a stop-loss set near the resistance at $1660. As the market continued to decline, the short position started to profit. Overnight, ETH experienced a sharp drop but found support from the bulls, slowing down the decline. The price had reached a psychological level, and the position was closed. See the chart below:

3.3 Winning Strategies Summary

For cryptocurrencies like BTC and ETH, it’s essential to identify the trend and maintain patience.

Note: Personal opinion, for reference only. Opportunities and risks abound, always do your research before investing.

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