You shouldn't panic at this time!
The conditions for bottoming out are gathering more and more.
1. Bitcoin has fallen to the moving average of multiple time dimensions of technical indicators.
2. Bitcoin's weekly line is about to reach below the middle track of the Bollinger Band. In the past bull market, every time it reaches here, it is the super bottom area, and then it usually washes the market on the lower track for 5 to 7 weeks, and then starts a new round of market. (If so, the market will come at least before the interest rate cut)
3. Falling below the 6 integer mark and washing it repeatedly makes it easier for people to panic.
4. Mentougou's negative news exacerbated market panic. Grayscale's selling did not react before, and the effect of negative news is more likely to be magnified when it falls.
5. It has now fallen to the shutdown price of some mining machines.
6. Retail investors' confidence is gradually collapsing, and those who are bullish now will be scolded.
As shown in the figure below, the worst plan is the red line position, around 42000U. If it can fall there continuously, you can sell your house and sell your pots and iron to enter the market. This is a rare opportunity in a lifetime. (It may not reach the red line, it can only be considered as the worst plan)
In short, Bitcoin is still Bitcoin in this bull market, and Ethereum is also okay, but for the cottage, the current wash-out is completely consistent with the callback of the previous bull market in terms of amplitude and time. The longer Bitcoin fluctuates between 5 and 6, the greater the opportunity space for cottages will be in the future.
Although the second half is the home of hot cottages, this wave of wash-out is thorough, and there are favorable expectations and good narratives in the future. The space for outbreak will definitely be larger than the first half. Everyone’s return is not a problem, but a problem of how much profit they make.
But in the future, we will adopt a separate strategy for cottages. We cannot do cottages according to the ideas of bulls and bears. The future market will only become more and more difficult to play, so it makes me more determined to only do staged market conditions.
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