Thousands of knives cut: BTC reaches previous high, plummets by 10,000 knives

Source: Liu Jiaolian

Last night the west wind suddenly howled, blowing the flowers and falling grass.

Overnight BTC rose all the way to the previous high of $69,000, which was a historical high set in early November 2021, exploding the short leverage lurking above. Then he turned his head downwards and made a quick kill with a carbine. From 23:00 to 3:00 in the morning, in just 5 hours, I sprinted back to 10,000 knives. From 69k, I fell below the 60,000 knives mark. I stopped and pulled back accurately at 59k, destroying most of the unreachable prices. Reactive long leverage.

Data shows that nearly 1 billion U.S. dollars have been liquidated, and it has hit the soul. The scale of liquidation has reached the highest level since the previous high in November 2021! Among them, long positions were liquidated for 757 million U.S. dollars, and short positions were liquidated for 235 million U.S. dollars.

Leverage is a gnat on BTC. It will inevitably shake its body from time to time to clean itself of parasites - just like many long-haired animals do.

Leverage is a great way to bankruptcy.

It’s all the fault of short positions. Because of the short position, I missed the rise. I regret it because I missed it. Because I regret it, I am anxious to make amends. Because I was anxious to make up for it, I added leverage. Because of the added leverage, the position was liquidated. Because the position was liquidated, the losses were even greater. Because the losses are greater, there is even less money to add to the position. Because I had no money to add to my position, I continued to take short positions and missed the subsequent market trends.

This is a vicious cycle. Once ordinary leeks fall into it, it is like a person falling into a pit of quicksand. The more you struggle, the deeper you sink. Not only is it difficult to escape, but you may be buried in it.

Jiao Lian once dissected the crux of this problem:

"Too many people are obsessed with speculative thoughts of one kind or another. They just want to stud, fast in, fast out, fast. To win, you are not willing to take small steps to reach a thousand miles. Many friends have been ups and downs in the currency market for three or four years, speculating, constantly changing stocks, and finally losing money. The more you lose, the more impatient you are, and the more impatient you are, the more you pursue short-term gains and quick gains. The high rate of return. So in the end, they will most likely start to get involved in the contract market. Because the high leverage naked contract is their last hope, the hope of turning over the past three years in three months.

"The natural law of the market is to eliminate this unrealistic hope. Bitcoin's rapid rebound and rise after the ten thousand cuts means that it will explode both long and short, and it will explode back and forth repeatedly. Explode. Either it will explode until you wake up and turn around, or it will explode until you are exhausted and leave the game. Then Bitcoin will continue to sing all the way and advance upward."

Teaching Chain The method of thinking is "The Eight-Character Secret of Immovable Mountain":

"1. Believe in long-termism

"2. Anti-fragility goals< /em>

「3. Perseverance and perseverance

「4. Not all-in

"5. Focus

"6. Don't do bandwagons

"7. Be with the right people Let's go"

Thanks to the strong wind last night, which even blew down the stars like rain. The market price order is 63539.9 to increase the position. Calculated at USD/CNH 7.21, the position cost rose to 32456 after adding the position, with a floating profit of 95%. If calculated based on the current higher positive premium of USDT 7.45, the floating profit of the position is 102%.

There are always people who are obsessed with finding the so-called "wealth password". But returning to common sense, it is not difficult to understand that the code for a hundred times wealth in a year only requires two. In two years, 10,000 yuan multiplied by 100 times twice equals a small goal of 100 million. If such a wealth code is really replicable, can be bought with a little money, and it will be effective after buying it, then just a few students can speculate the GDP of a country out of thin air. Is this possible?

There are no shortcuts in this world. Most of those who took shortcuts fell off the cliff and were already broken into pieces.

Only those of us who are taking the high road are still walking briskly, singing cheerful songs, and moving forward firmly in the face of the red sun.

If you want to go, take the high road. The sunshine is good on the high road.

If you have a warehouse full of pie, you will have high confidence. Don’t leave early at dawn.

If you want to go, take the high road. If you are in a good mood on the high road, run away from the hot copycat. It is not safe to be locked up in a heavy position. So wonderful.

If you want to go, just take the main road. The scenery on the main road is beautiful.

One coin for a thousand years and a smile for ten thousand years. Human freedom welcomes us. Come dawn.