Morning review: Bitcoin dropped sharply last night, with over 2 billion dollars in bullish positions being liquidated, instantly extinguishing the excitement of a day of altcoin surges!#比特币盘整分析
Bitcoin dropped sharply by 6000 points last night, and many people are worried that this bull market has ended. The Shepherd confidently tells everyone to keep their guts in their stomachs; we are currently in the rising phase of a big bull market, and the main upward wave has not yet appeared. I have emphasized before that as long as Bitcoin breaks through the 91000 points line, we will be looking at the 102500 line, so there is no need to panic too much. The financial market does not have periods of forever rising or forever falling; a slight pullback after such a strong surge yesterday is completely normal. This round of Bitcoin has been climbing with huge bullish leverage, and it is entirely normal for the market to clean up some bullish positions to realize short-term profits. I have mentioned many times before that bull markets often have sharp drops, and that’s how it comes!
In history, Bitcoin has had several occasions where it pulled back by 30% during the main upward wave. We can see that at the beginning of this year, Bitcoin pulled back by about 20% from its high, so today’s pullback of 6000 points is just a minor movement, and there is no need for excessive worry!
In yesterday's content, the Shepherd pointed out that every time Bitcoin pulls back, it is a good opportunity to buy low, so friends who are trading should definitely follow this rule!
Today, Bitcoin on the 4H level has broken through this upward channel. Currently, Bitcoin is near the lower track of the channel, but the lowest point this morning did not break the 91000 line. This line was a key resistance area before, but now it has turned into a key support area. Therefore, the Shepherd believes that as long as this key position of 91000 is not broken, we will continue to look bullish in the future!
Regarding He Yue: Still mainly buying low! Do not operate against the trend, and absolutely do not short on the spot!
Altcoins: We are currently focusing on strong coins in the Auntie sector, with particular attention to ENA/ARKM/SSV/AAVE/WOO.
ETH: 3400 key support, resistance at the 3570 line above! Once broken, it will move towards the 4000 line!