Those who complain in the comments about the drop and claim that there will be no alt season — you have a choice. If you don't believe in the market, sell all your crypto and move on.
Whining won't help. This is not a fairy tale about an eternal bull market where everyone gets rich in one day. Patience and cold calculation always win.
If every correction makes you panic and whine, then maybe investing is not for you. Patience, confidence in your strategy, and the ability to keep your emotions in check are what matter here. Financial markets are not for the faint-hearted.
Onward!
The direction is upward, and the trend has not changed. This is considered a normal correction to apply pressure on the Federal Reserve, just like in August when the Bank of Japan raised rates, and the Fed was forced to lower them.
A recovery is expected this week. Acceleration is anticipated in February, and this correction may seem insignificant.
Expected support and reversal levels:
Support and reversal levels for the S&P 500: from 5890$ to 5780$ maximum.
Support and reversal levels for Bitcoin: from 94000$ to 87000$.
Reversal levels for the dollar (DXY): from 109 to 111 maximum.