Published under "Market Analysis" at KTX Crypto Academy, this article is based on the official KTX Baize Academy Web3 market livestream. Zeyu reviewed the BTC and ETH long positions and staged profit-taking plans, then focused on EWY, crude oil, gold, TQQQ, and SNDK. The teaching segment covered event-driven volatility, the difference between spot and leveraged contracts, adding only to profitable positions, scaling out, and controlling position and liquidity risk in altcoins.
Livestream date: August 12, 2026
Instructor: Zeyu
Platform: Official KTX Chinese Lark community
Full Livestream Replay:
The full KTX Baize Trading Academy Web3 market livestream has been uploaded to YouTube.
Key Takeaways
- BTC remains a pullback-long market. The position reviewed during the session had an average cost near $63,810. Short-term profits were to be taken in stages around $64,000-$64,600, while the broader accumulation zone remains $59,000-$62,000.
- The ETH long averaged roughly $1,880, with staged profit references at $1,908, $1,922, and $1,944. A more attractive medium-term accumulation zone remains below $1,750 and toward $1,600.
- A CPI release should not trigger an impulsive directional change. Leveraged profits should be realized as planned, while spot positions can be managed on a longer horizon.
- EWY broke descending resistance and was added to while already profitable. Price traded above $173 during the session; partial exits were planned from $176-$180, with a higher extension near $187.
- Crude oil's $82.5-$85.5 area remains the primary short-entry zone, with a stop reference near $89 and targets at $75-$70. Gold is being watched near $4,500 and descending resistance before any short is considered.
- SNDK's rebound resistance sits around $1,360-$1,415, but its long-running descending channel has not broken, so an early oversized short is inappropriate.
- Altcoins should be traded only with small, isolated-risk positions. OPEN and MITO show how one sharp reversal can erase profits from several earlier trades.
Core Questions
- Why should profitable BTC and ETH longs be scaled out at planned targets instead of held at full size?
- How should traders separate short-lived CPI volatility from the existing market thesis?
- When is adding to a profitable EWY position justified, and how should that add be managed?
- What participation conditions currently apply to crude oil, gold, SNDK, and TQQQ?
- Why are altcoins excluded from the main copy-trading book, and how can small probes be used to assess market behavior?
1. Market Framework: The Rebound Continues, but Leveraged Profits Must Be Realized
Zeyu characterized the market as a rebound inside a broader consolidation rather than a confirmed one-way trend. BTC and ETH remain pullback-long setups, but leveraged exposure should be reduced when price reaches planned targets. This prevents a brief event-driven reversal from turning a profitable position back into an unrealized gain or loss.
The livestream overlapped with the CPI release. BTC and ETH initially jumped and then pulled back, but the move did not invalidate the existing structure. Macro releases often amplify short-term movement; they should not be used as a reason to chase a one-minute candle or reverse a preplanned direction.
Spot and leveraged contracts also require different management. Spot positions can be held against a longer-term thesis without reacting to every intraday move. Contracts introduce leverage and liquidation risk, so profits become real only when part of the position is actually closed.
2. BTC: Average Cost Near 63,810, Staged Short-Term Exits, and a Medium-Term Zone at 59K-62K
The BTC perpetual long was filled in stages, leaving the reviewed position with an average cost near $63,810. As price moved above $64,000, the first profit-taking area was placed around $64,000-$64,600. If the rebound continued, the region above $65,000 would serve as the next reference.
The four-hour chart showed an earlier rejection near $65,500. Important retracement levels included $64,728, $64,250, $63,864, $63,477, $62,907, and $62,227. Price remained inside the rebound structure, so one pullback was not considered enough reason to initiate a short.
The broader plan was unchanged. If BTC makes a deeper retracement, $59,000-$62,000 remains the principal zone for staged spot purchases and long exposure. Intraday and medium-term positions must be managed separately: short-term profits can be realized at their targets, while the longer-term plan waits for a more attractive location without demanding the absolute low.
3. ETH: Three Profit Levels From the 1,880 Long; Better Accumulation Remains Below 1,750
The ETH perpetual position averaged approximately $1,880 and was about 20 ETH in size. Staged profit references were $1,908, $1,922, and $1,944. ETH reached the second area around the CPI release, reinforcing the need to scale out instead of leaving all unrealized profit exposed to event volatility.
On the short-term Fibonacci structure, $1,914, $1,896, $1,882, $1,867, and $1,847 formed the principal retracement references. The rebound remained valid after price recovered above $1,900. On a medium-term basis, however, ETH had stayed above $1,800 for almost a month, and Zeyu considered both the elapsed time and the depth of the correction insufficient.
The more attractive medium-term spot and trend-long zone therefore remains below $1,750 and toward $1,600. Existing lower-cost contract longs can be managed against short-term targets, while traders without a position do not need to chase the same cost during the rebound.
4. EWY: Adding After the Descending-Resistance Break, With Partial Exits From 176-180
EWY perpetuals were among the session's strongest profitable positions. The trade began around $162-$164, and staged adds brought the average cost to roughly $167.7. During the livestream, price broke descending resistance and traded above $173, prompting an add to an already profitable position.
Adding to a winner does not mean chasing every rise. The original position must already be profitable, a key breakout must be confirmed, and aggregate risk must remain controlled. If the breakout fails, the newest exposure should be managed first so the favorable cost basis of the original trade is not lost.
The main scale-out zone begins at $176-$180, with a further extension near $187. By the latter part of the livestream, EWY's unrealized profit had reached five figures, and Zeyu began reducing the position in increments of 100-200 units instead of closing it all at once.
5. Crude Oil and Gold: Wait for Higher-Timeframe Resistance Instead of Trading the Middle
5.1 Crude Oil: Staged Shorts at 82.5-85.5, Targeting 75-70
Crude oil perpetuals remained a central setup. Zeyu's position averaged around $82.2, with a plan to continue building a short between $82.5 and $85.5. The stop reference was near $89, while the target range was $75-$70.
The setup combines daily descending-channel resistance with Fibonacci levels. The chart highlighted approximately $82.94, $85.28, and $88.27 as important retracement references while price approached descending resistance. An average entry near $85 would risk roughly $4 to the stop while leaving more than $10 to the target region, producing a comparatively favorable risk-reward profile.
Even inside the planned zone, exposure should be built gradually. Two earlier oil shorts from similar structures produced substantial declines, but those outcomes do not guarantee that this attempt will repeat them.
5.2 Gold: Consider Shorts Only Near 4,500 and Descending Resistance
Gold perpetuals rebounded from around $3,948 to above $4,400 with strong short-term momentum. Zeyu did not chase a short during the rise. The plan was to wait until price approached $4,500 and the higher-timeframe descending resistance line before considering staged short exposure.
A prior short around $4,050 had remained deeply underwater, illustrating the cost of shorting before price reaches the planned resistance. Even at $4,500, the level only defines an observation and probing area; it does not justify an oversized countertrend position without a stop.
6. SNDK and TQQQ: One Is Approaching Resistance; the Other Demands Tighter Position Control
6.1 SNDK: Rebound Resistance at 1,360-1,415, With the Descending Channel Still Intact
SNDK perpetuals rebounded from around $1,168 and traded above $1,330 during the session. Short-term Fibonacci resistance is concentrated around $1,360 and $1,415. Zeyu planned to assess the U.S. market open before deciding whether to test a small short.
SNDK remains inside a descending channel that has persisted for a long time. The longer such a channel remains in place, the more important it becomes to account for a sudden breakout. An early oversized short is therefore inappropriate, and any channel break should be treated as a major invalidation signal.
6.2 TQQQ: Near Descending Resistance, but Position Size Cannot Be Aggressive
TQQQ perpetuals rebounded from $56.5 to around $75, approaching both the 0.786 retracement near $76.2 and descending resistance. Zeyu held a short and considered a small add near resistance, while acknowledging that the existing exposure was already aggressive.
The lesson is that a technically reasonable pattern never replaces position control. If price retests the $81.57 high, a short opened near current levels could still face roughly 8%-9% of adverse movement. With leveraged index products, position size should be derived from stop distance before deciding how many units to trade.
7. Altcoin Lesson: Small Probes, Isolated Margin, and No Confusion Between Luck and a System
The session used OPEN perpetuals, MITO perpetuals, and FHE perpetuals to illustrate asymmetric altcoin risk. OPEN rose from $0.1945 to $0.2336 and then reversed sharply; MITO also suffered a rapid decline. These products can generate several small wins, but one exit failure can erase the accumulated profit.
Zeyu described a "small stock-like" approach: for example, use only 50 USDT of margin with moderate leverage, keeping effective exposure near 500 USDT, and favor isolated margin so one product cannot damage the entire account. When several altcoins are traded simultaneously, each needs an independent budget and total portfolio risk must still be capped.
Technical levels are also less reliable in altcoins. WLD perpetuals had retraced to roughly 0.786 of its prior advance, but that level alone was not enough to confirm a reversal. Long-term weak products such as SUI perpetuals likewise require clear changes in capital flow and structure.
7.1 Using a Small Position to Observe Market Behavior
The livestream also described a probing method. After opening a very small altcoin long, continued persistent selling suggests that the position is insignificant relative to market supply and that the bottom may not be complete. If price remains strong after a small partial exit, the trader can continue observing whether larger players still appear willing to push the market.
This is a risk probe, not a deterministic way to identify market makers. Shorting altcoins is especially dangerous because some products can jump several percentage points within one minute while stop execution and liquidity deteriorate. Such trades are therefore excluded from the main copy-trading book.
8. Micron and the Memory Sector: Lower Priority Until a Clearer Location Appears
Micron perpetuals rebounded toward $900, but the session did not provide a new, precise entry plan. Zeyu said recent attention had shifted from Micron and SK Hynix toward EWY, leaving the memory sector mainly on watch.
Micron remains between descending resistance and a rebound structure. SNDK is stronger but is also approaching the upper boundary of its channel. The repeated principle was to avoid forcing a position when price has not reached the plan: missing a trade is preferable to creating a poor risk-reward setup in the middle of a range.
9. Trading Principles From This Session
- Macro releases can amplify short-term movement, but they do not replace trend and structural analysis.
- Leveraged gains become real only after closing exposure. Scale out at targets; manage spot positions on a longer horizon.
- Adding to a winner requires a profitable original position, a confirmed breakout, and controlled total risk.
- Higher-timeframe resistance can justify staged probes; the middle of a range usually does not justify a forced trade.
- Calculate position size from the stop distance before choosing the number of units, especially in leveraged products.
- Use small size, moderate leverage, and isolated margin for altcoins, and control aggregate risk across multiple names.
- Do not treat one technical bounce as a confirmed reversal or several lucky altcoin wins as a stable system.
- Different market views are acceptable. Predefined plans and subsequent price action should verify them, not intraday argument.
10. Livestream Resources and Participation
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This article summarizes an official KTX Chinese-community livestream. All price levels, market views, historical trades, and strategies are provided solely as a recap of the session. They do not indicate future performance and do not constitute investment advice. Cryptocurrency, derivatives, and leveraged trading involve substantial risk. Make independent decisions based on your own risk tolerance.