Where are the current opportunities for altcoin bottom fishing?
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Bitcoin dipped again this morning near 93,000, and many people told me they are tired of the drops. Actually, such a pullback is still considered normal. It's the altcoins that are concerning; Bitcoin is still at a high position, and if altcoins drop further, what will happen?
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In the worst-case scenario, Bitcoin's absolute support is at 90,000, and ETH's support is at the 3,000 mark. Those with leverage should pay attention. Although Powell's market crash was unexpected for everyone, I believe that on January 20th, when Trump takes office, there should be a wave of market activity. Therefore, I view this pullback as a necessary consolidation before another rise. There are still 30 days left, which provides ample time for market consolidation and recovery.
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At this stage, if your position is not heavy, you can use a strategy of buying more on large drops, buying less on small dips, and not buying if there's no drop to gradually pick up low-priced chips.
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Currently, the overall market state is that Bitcoin and Ethereum have more buying support below due to spot ETFs and large capital backing, but most altcoins lack such support and have no support levels once they drop; it mainly depends on market sentiment.
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Therefore, it is essential to manage your position well 05980475277