Many people reacted violently to the recent sharp drop, as if the world was about to end. I really don’t know whether they invested in Bitcoin or bank wealth management. This investment mentality is not suitable for high-risk markets. It is recommended to keep it in a bank and earn a stable interest of 4% a year. Some people are even more panicked, thinking that Bitcoin will return to zero in the long run, and their emotions are full of ignorance and despair. This behavior is a typical "leek" behavior: panic selling when the price falls, and the more it falls, the more afraid it is; chasing high when the price rises, and finally being trapped at a high position.
So, what are the big funds doing now? They are collecting chips. US regulators and Wall Street are all allocating Bitcoin cryptocurrency. Recently, the project parties on the altcoin chain have been withdrawing coins and the chips are becoming more and more concentrated. However, the "leeks" are shipping, panicking, and shouting that the market will return to zero.
Although it is not the right time for us to increase our positions in the near future, this does not affect our patience in holding our positions and waiting for opportunities. The future is bright, but the road is tortuous. No market can escape the flaws of human nature, and only a small number of people can make money. If you want to get a hundred times or a thousand times the return, you will be ravaged by the market. Otherwise, why do you have a hundred times or a thousand times the return?
Market analysis:
BTC：
There is a high probability that the market will go sideways for 2 days over the weekend. It received brief support at 53750 yesterday, but this 53750 is not a support level. The large-scale M-head pattern has already appeared, and it is likely to go down on Monday!
ETH：
There is a pin at 2850, but the volume of the market crash is relatively large, and the rebound is not strong. There is a high probability that it will continue to reach 2850 on Monday.
Altcoins:
There is a high probability that altcoins will rebound over the weekend, mainly adjusting the K-line!
Egg total TD631313
