BTC took another hit at 54930 at night, but this is still just a rebound, not a reversal. We can think about how to buy the bottom, but don’t lose yourself in the calls for buying the bottom!
In the short term, we have repeatedly taken the support level of 54930, but we have also encountered obvious suppression many times near the mid-line suppression range of 58410~59880, and the support and suppression are shrinking, so the short-term fluctuation space will only gradually shrink. I personally think that short-term profits should be closed while expectations are low. Friends who don’t have time to watch the market can take a break first, don’t waste time! Short-term support and suppression, as shown in the figure!
Don't be afraid of a sharp drop when ETH is on the long side in 4H, and don't fantasize about a sharp rise when it is on the short side in 4H. It is on the short side now. There is no subjective willingness to continue to rise after the rebound. The support range is 2930~2910, and the suppression range is 3188~3256
Yesterday I took the opportunity to buy at the bottom, but today I will have to pay a few points more if I add more positions. Hi! Emotions seem to have reached an extreme point:
(1) Someone asked if it is a bear market?
How do you define a bear market? If we define the period from the breakout of the previous high (69k in 2021) to the peak of this round of bull market, then it is definitely still a bull market now.
(2) Some people are waiting to buy at the bottom and ask when they can add to their positions?
For BTC, any time is an opportunity to buy. Don’t be greedy and always want to buy at the lowest point. Buy in batches. Hold for ten years.
(3) Someone asked, if the bull market returns in July and August, which coin should I buy?
ETH will rise first, and may return to 4,000 or even higher due to the approval of ETF (definitely) and inflows; SOL will still have momentum, and there are also expectations for potential SOL ETFs;
After ETH has risen, it will be the turn for the altcoins to rise. Don’t rush to hold a large position in altcoins, as they lack thickness and liquidity. You can look at DeFi and infrastructure, such as Aave, MakerDao, Uni, etc., which have experienced several rounds of bull and bear markets, have high liquidity, fundamentals, teams, and income.
The price of OP has returned to the beginning of the bull market in December last year, and VC coins represented by WLD will continue to unlock.
The restaking narrative has come to an end, and Pendle TVL has dropped sharply. Whether it can return to its previous high remains to be considered;
Many high-quality altcoins have fallen too much, with limited downward space and more upward space; some altcoins do not necessarily need to be pulled up, so when buying altcoins, think about whether they can outperform ETH;
After a big drop back to the same starting line, it is still better to look for the leader of the track with a fast rebound. Try to be as representative as possible, or listed on BN LP, and avoid frequent high-buy and low-sell, waiting for happiness to knock on the door.
In a bull market, before each violent rise, the main force will definitely suppress the price by any means necessary to force small retail investors to sell at a loss. The main force now wants to make small retail investors have the illusion that the market is about to collapse and a big drop is imminent. If they don’t sell, the price will be even lower and their accounts will shrink indefinitely. But all this is just appearance! The real purpose of the main force is to make you unable to resist buying low and selling high after seeing your account shrink.
When the chips in the hands of small retail investors decrease, the main force can control the market more easily and trap more people! This game is a thrilling game between the main force and small retail investors.
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