Brothers, this is incredible. A bizarre plot rarely seen in history happened last night. Last night, the short sellers suddenly launched an attack and smashed the market. Bitcoin plummeted 8.1% in response. The price dropped to 58,200, the largest drop since April 13.
I thought the market would wail again, but unexpectedly, apart from the second concubine who showed a little bit of interest, the copycat sector was basically indifferent. Today, it even rebounded by more than ten points. Even Lista, which performed poorly in the past two days, couldn't help but surged 28% to become the most popular stock today.
Not only are you confused, I guess even Dabing himself is confused. Am I still the big brother with half of the market value? Don’t these little brothers have to plummet by more than ten points when I fall by 1%? Are they going to rebel?
In fact, in Tangren’s opinion, the reason for this situation is easy to understand. First of all, during the process of Bitcoin’s back-and-forth downward fluctuations, there have always been institutional funds to protect the market. Therefore, this round of correction did not actually cause a big drop in Bitcoin’s price.
But the situation is miserable for the altcoins that have no milk to drink. After rounds of shocks and declines, the overall altcoins have already fallen miserably. Many altcoin tokens have been halved, and have basically reached the point where they can’t fall any further. So it’s not that they don’t want to follow the big brother, but that they can’t keep up!
Secondly, because of the impact of the Mentougou incident, everyone understands that even if there is selling pressure in the market, it is only a unilateral selling pressure on Dabin and has nothing to do with other copycat sectors. Moreover, because of the selling pressure faced by Dabin, investors will instead withdraw funds from Dabin and temporarily flow them into other copycat sectors.
So, last night the big bitcoin price plummeted, but the copycat stocks were indifferent. Today, there was a good rebound. Of course, what makes us happy is that the copycat stocks have basically fallen to the bottom and have entered the low-priced chip area. Whether we can pick up profits depends on our personal luck.
On the macro level, the Big Pie ETF had a net outflow of 174 million yesterday, marking the 19th consecutive day of net outflow. The reason has been explained in previous articles more than once. Market liquidity needs time to repair. The market panic index given by the platform data yesterday was 30, which also shows that the dog market’s method of smashing the market to absorb funds has worked, and many people have begun to panic.
It's right for everyone to panic. The bulls need a lot of fuel to be sacrificed. Just like last night's plunge, although Bitcoin was the only protagonist, the entire network still had a liquidation of 375 million dollars, of which 317 million long orders were liquidated, mainly long orders.
From this we can see that it is becoming increasingly difficult to make money in this bull market, but it is becoming increasingly easy to lose money. Most of the past experiences have become invalid. The market is becoming more and more complicated. At the same time, the rules are becoming more and more perfect and fair. If you are not professional and calm, you will be swallowed up by the market in minutes.
Finally, let’s return to the core. In a bull market, what to buy? How to buy? It is very important, but when to sell is more important. If you want to know more about the market interpretation and strategy, add a follow, find Tangren, and play in the crypto circle together.
Tangren’s interpretation of the market
Big Pie: The four-hour MACD is out of divergence, and there is no signal of a major turning point. Then the shock market after the big drop is the main tone of the short-term. The current market is still mainly oscillating around the position of 61,000. There is a need to continue to test the support level of 60,000 at night. The upper pressure level is 62,000 and the support level is 60,000.
Auntie: The rebound during the day was not strong, and it was basically in the range of 3300-3400. The market failed to break through above 3400. The short-term market is still dominated by fluctuations. We continue to wait for the signal of market reversal. The upper pressure level is 3400. The support level is 3300.
For copycats: Today’s overall rebound was good, but this wave of bottoming out has not been confirmed as a market rebound. Those who have made profits by buying the bottom can reduce their positions appropriately. Beware of the risk of a second bottoming out in the market. Pay attention to the MEME and SOL ecological sectors as well as L2.
Tangren talks about strategy
Since short-term strategies are time-sensitive and the market changes rapidly, many strategies cannot be shared with everyone in time. Therefore, you can find Tangren by reading the introduction on the homepage of the article and send a message to receive it.
The essence of Tangren's trading strategy: the first step is to determine the trading cycle, the second step is to confirm the trading direction, and the third step is to formulate a trading plan. The plan must clearly state: where to enter, why to enter, how much to enter, how to exit, where to exit, and why to exit?
What should you do if you get the market right? What should you do if you get it wrong? If you don’t understand the market, don’t give yourself problems.
Each of my plans includes three predetermined results: exit with a stop loss, exit with a breakeven, and exit with a profit. Regardless of the result, I will review and summarize the gains of this plan after the plan is completed.
