In fact, people in the cryptocurrency circle are under great mental pressure. The prices fluctuate every day, and your account assets also fluctuate.
Especially for many people who like high-multiple contracts, their mood is like a roller coaster every day. The amygdala in the brain that is responsible for stress response is in a highly active state for a long time, which will cause you to be unable to concentrate, irritable, and impulsive.
So since there is no market during the weekend, don't open an order. Forget about the market and enjoy life. You can try meditation, Zen, fishing, and mountain climbing to relax.
Next, let’s talk about the market. In the update the day before yesterday, it was said that after falling below the 29,500 range, it did not accelerate the decline, but instead formed a new small central axis oscillation.
$BTC It is still oscillating in a narrow range within the blue range of 28800-29500. If you want to do ultra-short-term trading, you can just sell high and buy low.
The major support below is 28300-28000. If it falls to this level, you can buy a large spot position. Regardless of whether this place will fall below or not, there is a large technical support.
If there is an upward breakthrough and there is horizontal range pressure and a downward trend line above (as shown in the chart), then it can be bullish only if the breakthrough is effective and stabilized (indicated by the blue arrow), otherwise it will be treated as a volatile decline.
$ETH The linked market is also suppressed by a downward trend line. If there is no effective breakthrough, it will be treated as a shock decline. The bottom-picking position is at the arrow, 1780-1760.
$OP The ecosystem is developing rapidly, and in the short term, it is relatively strong due to the benefits of BASE chain. However, an ascending wedge structure is formed here, and it also touches the previous horizontal suppression. Those who are long in the ultra-short term can take profits and take the money. Spot can be appropriately structured to bet on the upgrade of Cancun later, and there is no need to be too structured in contracts.
In general, the market situation is still quite tiring, and the volume has shrunk significantly, which indirectly proves that most retail investors here have already placed their bets and are waiting for the direction.
Like I said before, there is really no need to do this kind of market. There is little profit. Take a break, restore your mental and physical strength, and wait for the market to come before following the market.
Most of the copycats are in a state of decline, but some are relatively strong. Pay special attention to the sectors that benefit from the Cancun upgrade, and also pay attention to the Gamefi sector.
Many Gamef projects released in 2021 and 2022 are now close to the launch stage after more than a year of development, and "smart money" has begun to make early arrangements, such as the recent surge in YGG. Regardless of whether Gamefi can succeed or how far it can go, a unanimous consensus will inevitably bring about a wave of market conditions.
