Bitcoin and a number of altcoins had a small pullback after bouncing back yesterday, but everyone should not panic. It hasn't dropped to a new low, and it hasn't even tested the bottom twice. I don’t think there’s much to worry about. Since it's the weekend and Wall Street is off, there’s not much extra capital flowing in. Let’s wait for the early weekend and Monday evening situation, and we can take another look then. There should be a decent opportunity for stabilization and continued rebound.
As long as Bitcoin's daily line does not break the 93,700 position, the daily trend will not deteriorate, and the price trend will maintain daily fluctuations, so there’s no need to worry too much about short-term downside. Many people see more downside, mainly due to low liquidity during the Christmas period next week leading to market declines. However, this week's decline has mostly cleared the leverage bearish sentiment, so we can look forward to the daily support situation.
Every drop in the bull cycle is for a better rise. A drop isn’t a real drop, but rather a way to accumulate and build momentum for a higher point. This kind of drop is called an 'ineffective drop.' It’s been a while since I shared points with everyone, so today let’s discuss them for your bottom-fishing needs!
Bitcoin
The maximum pullback point is at 92,000. As long as the closing price remains above 92,000, there’s nothing to worry about. It’s just fluctuations within me. If it goes a bit stronger, going all-in at the 88,000 point is not a problem! BTC returning to 100,000 is just a matter of time!
Ethereum
Currently, two key points have emerged. The first point is at 3,100, and the second point is at 2,980. If the market continues to decline, 3,100 will become a reasonable rebound point. If the price drops rapidly, just hit 2,980. This point has significant strategic importance, and the big players will not miss such a good level! Pullbacks are opportunities, double long-term, hold for 3 months, witness the miracle of upgrades.
The market in the past 20 days has actually been an unbearable burden for many retail investors. Unlike previous bull markets, this round of bull market has too many operational spots; lying flat or making the wrong choice could mean losing everything, so one must pay attention to the market in time.
The cryptocurrency market is a highly uncertain purgatory, so most of the time, I won’t provide specific points and clear instructions, just my views, and I will be relatively conservative. Of course, if it's a relatively simple true or false question, I will still offer suggestions.
Some fans couldn't help but ask me if I could cut my losses?
I told him to stabilize his emotions first. He could switch to mainstream coins like Bitcoin and Ethereum, but the one thing he can't do is cut losses. "If you can't stand the drop, switch to mainstream." This is my advice to everyone, a relatively wise and reasonable approach. If you cut losses, and then it pulls back a bit, wouldn’t your mindset collapse?
Reversal certainly cannot happen all at once; it still needs some polishing before Trump takes office! Although everyone’s positions are retracting in this market, isn’t that also giving you opportunities?
Some projects were okay before, but due to market FOMO, prices increased too quickly in a short time. Now, during this period, it gives you ample time to assess projects, check the chip structure, and then gives you plenty of time to slowly buy the proportion you want (like 1%). I don’t know if the market will continue to fall, but some targets have already reached the price range where I want to start building my position, so I will start to buy in batches.
That's all for today. During a bull market, many people hope to have a discussion. If you really can't manage the cryptocurrency market on your own, don't force yourself. Come find me for mentorship, to understand the latest information, plan your strategy, embrace the bull market, improve your win rate, and say goodbye to being trapped at high positions.
