The truth is simple. Let's use a few simple logics to understand the current market:
1. From the monthly line of Bitcoin, the bull market is very obvious. At present, the monthly line has only crossed a few lines. It is normal to consolidate near the new high, wash out the profit-taking, and provide support for the next wave of rise. As mentioned before, the maximum correction to 6w is the limit, and it may not reach it.
This phenomenon has appeared in the 17-year bull market when Bitcoin was 6,000 US dollars and before the second wave of the main rise in 2020. Bitcoin was around 1w. (Consolidation around 1w lasted for 6 months)
2. Shanzhai must learn to delay enjoyment: The siphon effect of the big cake is still there, and the hot spots of Shanzhai are still there, but they are delayed in time with the changes in the cycle, especially now that there are so many leeks and so many currencies, the main force is also waiting through the wash, taking advantage of the opportunity to start. (The indicators of the altcoins for Bitcoin are currently at the bottom, pointing to the eve of an outbreak)
3. Correct your mindset: Many people are now doubting that the bull market is about to end, because they are going crazy because of the market torture. The more pessimistic voices there are, the healthier the main force is.
4. With so many positive factors in the future, the second half of the bull market is inevitable!
(1) ETH ETF,
(2) Prague,
(3) Expectations of interest rate cuts and the substantial entry of interest rate cuts,
(4) The US election obtains votes from crypto users and releases more policy positive news
(5) The Basel Committee on Banking Supervision will allow banks to have 2% crypto reserve exposure.
The current situation is typical of the bull market, with a period of rise and a period of sideways.
Especially the altcoins, which take three steps forward and three steps back in the bull market, and then run six steps. The time for the altcoins to explode is actually very short. The six steps are in the last 1 to 2 months of the bull market, and then the whole battle is over.
The logic is clear and the goal is clear.
Making money depends on luck, and holding on depends on yourself. It's that simple.
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