$BTC
🔥Market view analysis:
Bitcoin will continue to fluctuate over the weekend, and ETH still needs time to effectively break through upward ⬆️
Yesterday, Bitcoin pulled back to 86,500, and then rebounded to 91,000. As of now, the price of Bitcoin is 90,900. In fact, after breaking through the high point of 93,200, the old leeks in the currency circle should feel that Bitcoin has reached its short-term high point, and the next step is consolidation and correction. Why? The reason is simple. When Bitcoin reaches a new high, all players who hold Bitcoin will make money. No matter what price you entered before, you have made money now, so the proportion of players who take profits will definitely start to rise. Especially for large households that are mainly mining farms, they have the demand for continued operation, and they need to turn Bitcoin into cash and continue to invest in the purchase of new mining machines.
So the current adjustment will continue for a while, accumulating strength, and the market is also choosing a direction. The current market sentiment also reflects this. At present, the panic greed index of Bitcoin has reached 86, which is still in a red-hot state. One thing that retail investors are most willing to ask is, just tell me, should I buy or sell now?
My point of view has always been clear. If you hold spot and have good returns, you can stop profit appropriately. If you are trapped, continue to hold. But if you are short and are eager to get on the train now, the current moment of extreme greed is not suitable for you to increase your position. If you are a long-term player, I hope you will consider opening a position when the market sentiment cools down a little.
As for ETH, you still need to wait. When ETH was at 2400 before, I have repeatedly told everyone that it was a very cost-effective time to open a position. If you haven't opened a position in ETH yet, you might as well wait a little longer. ETH still has a chance for you to get on the train. If you are trapped in Ethereum, don't be pessimistic. Many copycat players are more ruthless than you...