Market Analysis (Issue 7)
Today is the 22nd, and there's still not much liquidity over the weekend. Only the meme sector is rebounding quite strongly. Is the current market starting to rotate even during strong rebounds? 😂
Bitcoin is still consolidating at high levels as usual. It's good enough that it can consolidate and fluctuate; if it tests 92000 again in the short term, it may not hold. I must say that the project teams are quite perceptive. Projects that were not launched earlier would probably struggle to maintain interest if launched now.
Ethereum has seen a significant pullback but has not broken the major level of 3100. It has only shifted from strong bullish to weak bullish. There is still hope for a resurgence after some adjustments. The area around 3100 is also a strong support level and is unlikely to break quickly, especially considering the 2800 99 new Ethereum meme, which has been played for several months. It is still a deep accumulation zone and has not been tested multiple times; Jason does not think it can drop easily.
Solana has broken the bullish flag pattern that everyone talked about, indicating that the short-term market outlook is not optimistic. When the market is pulling Ethereum up, Solana needs to rest for a while to consolidate, making it lighter.
Currently, altcoins are generally following Ethereum's trend. If Ethereum is strong, the sector rotates and rebounds; if Ethereum is weak, the market is overall weak. Even if there is a rebound, it is only a small-scale rebound, and the continuation is poor, lacking structure.
Jason's advice is to buy on dips and operate in segments.
