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Dare to trade. Dare to win.
Yesterday I took a small short position on PENGU, as I observed a converging downward pattern on the 15-minute chart, which presented a clear opportunity, so I just added a position and then ran away. After all, considering the strong background of this project itself, along with the overall funding leaning towards long positions, the sustainability of short positions is hard to predict.
As expected, a positive news announcement came out today, and the market immediately surged. The characteristics of strong coins are clearly evident. To summarize, the best strategy for this type of strong coin is still to buy on dips, follow the main trend to capture swings, and when shorting, it’s more about quick entries and exits; being a little greedy can lead to an instant reversal.