Opportunities for bulls always emerge from declines; significant drops brew great opportunities. The market's drop rate is starting to slow down, which is favorable for bulls.
Three bearish days in four is the minimum satisfaction point for BTC's drop. Yesterday, ETH's drop was less than BTC's, and most altcoins dropped less than ETH. This information is what we can capture through market observation and data monitoring. The details and key points of watching the market have been communicated in advance to all partners. Those who listen to my video analysis should know that I don't particularly like to define digital currencies in terms of bulls and bears. If you have a superficial understanding of the market and often feel confused in your operations, the first thing you need to do is change your mindset.
Last Friday, the market experienced a sharp drop. We entered long positions/bottom-fishing in the oversold area when others were fearful. The market then formed a lower shadow line but was constrained by the downward direction of the 5-day moving average. The rebound was short-lived, only two bullish candles. On Saturday, we shorted ETH at 3518 along with several other short positions. Yesterday and today, we chose to go long while filling the lower shadow line, taking advantage of the drop and BTC's bearish candle to find value in buying on dips.