Last night's Microsoft shareholder meeting did not pass, which affected the Bitcoin price, causing a spike near 94,500. However, the morning closing price remained above the 96,000 range, and it is currently fluctuating slightly within the three ranges of 96,000-97,300-98,300. The current trend is not over yet; it's merely a small cycle adjustment, so there's no need to panic. Especially in last night's situation, no one dared to buy the dip, but I did.
My logic is that as long as there is no effective break below my fluctuation range, I am willing to buy if it drops. If it's a short-term rebound towards the upper range, then I'll reduce my holdings. If it breaks and stabilizes on the right side, that's a point to increase my position.
Ethereum spiked to around 3,500 again last night. I believe my friends who are in the internal group should know that I bought the dip again last night.
I don't know what you all think, but a few days ago, when it was in the 3,950-4,050 range, I was selling off and calling for a reduction in positions. Many of you were arguing daily to enter the market, wanting to chase after it just touched 4,000 and hadn't stabilized yet. Some saw 4,800, 6,000, or even 10,000 due to market FOMO, unwilling to wait and directly chased it in. Now it has returned to around 3,500 and you’re hesitant to enter again, or you might not have funds to enter.
For the Ethereum Layer 2 series, if you have positions in these Layer 2 tokens, you really don't need to worry. The average price has dropped to less than a 10% loss. Compared to others chasing highs in the market, you are still in a fortunate position. A slight rebound will put you in profit, and these range positions are quite important. In the future, when ETH pushes towards 4,000 again, it will be your best cost price position, so there's no need to worry. The fastest recovery will be in 3-5 days, or a little longer, around 7 days. If you're fully invested and the price rises, just reduce the high-cost positions. Always ensure you have room for capital turnover in spot operations to remain invincible.
Is a turning point coming in the cryptocurrency market tonight?
At 9:30 PM, the CPI will be released. The market is generally pessimistic, expecting CPI to rise to 2.7%. If it meets expectations, there will be no negative impact, but if the result is below expectations, it will significantly boost the cryptocurrency market.
And do you know? Bitcoin has dropped to this bear market level in the past two days, but Wall Street ETFs are still increasing their positions. They clearly see these drops as an opportunity to buy the dip rather than a chance to escape. So don't misjudge the current market situation; this crash is just a cleanup of leverage, and the consolidation will continue to rise.
Recently, there are indeed reasons for the cryptocurrency market to rise because the Federal Reserve will lower interest rates next Thursday, which should be a turning point.
By the way, did everyone buy the dip after last night's crash? Don't give up your faith; the bull market has just begun!
Finally, let's analyze BAN, PNUT, and SHIB.
Ban has always had accumulation at the bottom, but the adjustment time was too short. The longer the adjustment time, the stronger the subsequent breakout.
The funds looking at Pnut are much more than those looking at Ban. So when Ban broke an important support level, PNUT basically didn't break down, and there are more funds looking positively at it.
Can we buy PNUT now? This major pullback did not break important levels, so it's still relatively safe. If you’re asking whether it’s particularly safe, it’s hard to say, mainly because it hasn't experienced a long adjustment period.
Shib in 2021 was like this; accumulation at the bottom, no rise or fall, washed out for 6 months, and then surged 20 times. This kind of trend is particularly safe.
Currently, both BAN and PNUT can be bought, but don't easily take heavy positions unless you are really committed. Diversifying investments is still very necessary.
