Collapse! Completely collapsed...
Bitcoin has effectively fallen below its 200-day moving average. From a technical analysis perspective alone, it has already fallen below the bull-bear dividing line!
An effective break below this level would be a sign of a crushing defeat for bulls’ confidence. If it is not recovered quickly, the bull market that everyone is looking forward to may be delayed.
This blow to confidence made it difficult to lead the team! The bulls also turned into bears.
The adjustment time will not be short!
Comparing the current structure with the historical trend of Bitcoin, it is more like the bull market in 2019, when Bitcoin rose from US$3,100 to around US$14,000.
Then began a six-month-long adjustment, and it was not until the 312 COVID-19 crash in 2020 that a new rising cycle truly began.
Note: In the context of the bull market, quantitative easing began. After March 12, 2020, the Federal Reserve began unlimited quantitative easing (QE), and both stocks and cryptocurrencies started a super bull market.
The current market is bullish
What fundamentals are established:
Bitcoin ETF approved, long-term bull market foundation established
Ethereum’s ETF will be approved soon, and the long-term bull market fundamentals will be established.
Uncertain fundamentals
Note: The Federal Reserve’s interest rate cut cycle has not yet begun and the timing has not been determined. Based on the known information, the first interest rate cut that can be predicted will not be confirmed until September or November.
The current stage can be said to be the most difficult and painful time. Although we know that the price may rise higher in the future, the current pullback makes people very uncomfortable.
In fact, for short-term players, the worst that can happen is that they just sell their stocks and come back after the market stabilizes.
The difficulty lies in our friends who hold spot goods for the long term. If they make a profit, they may lose everything if they don’t sell. It’s too difficult!
I have heard an interview with Michelle Yeoh before, and I would like to share it with you.
Not every decision you make is perfect. Mistakes can make you wiser and smarter. Don't make the same mistake again.
The moment you give up or surrender, you have already lost!
Never giving up is not the end, giving up is the end
What doesn't kill you makes you stronger...
Those who didn’t reduce their positions at high levels can only lie flat now. This kind of market cleansing is inhumane. I reviewed the trend chart of EOS in 2019. The high point was 8 US dollars, and it fell to the lowest point of 2.5 US dollars. It did not rebound to 5.3 US dollars until December.
At that time, EOS was already a doomed project, and in 2021 it has increased more than ten times from $1.5.
Therefore, if you want to survive in this market for a long time, it is not about how good your skills are or how capable you are. The key is to have full confidence in the cycle.
When it falls low enough, you should dare to build a position or cover your position on the left side. Eventually, the pro-cyclical period comes, the interest rate cut cycle comes, and when the floodgates are opened, you can make a profit and stop profit.
Everyone has been in a bad mood these days! If you are in a bad mood, don’t look at this short-term flat market. Take advantage of the summer vacation to spend more time with your family and children!
When the time comes, it will naturally rise...
Let’s share it here!
