The price rose to $66,000, which triggered a tug-of-war between longs and shorts, and the market was briefly stagnant.
This has caused some concerns for those who have been chasing the rise in the past few days, because there are still many doubts about the subsequent market conditions.
Afraid of missing out, and afraid of continued decline
The truth is always confusing, so don't dwell on it. Instead of being scared, it's better to calm down and summarize the past and find out why you always miss opportunities.
The wheel of history is always following the same route. The K-lines are different, but the core logic is exactly the same.
Before each rise, the market will inevitably fall into deep fear. During the period when everyone is hesitant, the bottom will slowly rise and the key pressure level will be broken through little by little.
Looking at the current wave of rise, it is actually the same. $60,000 is a watershed.
It takes a long time to fall, but it is smooth when it rises. The conversion between the two is just a change of soup but not medicine.
The purpose is to trap those who chase the shorts and speculators at the bottom, and then start a period of shock at the next key position.
Slowly tortured, and finally countless people couldn't stand it anymore, so they chose to sell their stocks and took advantage of the trend to break through the next key pressure point.
The current volatility is just a trading method. Let's see how many people really understand the trend and have the main thinking. They will make a profit in the subsequent market.
Those who go against the trend will inevitably return all their capital and profits to the market.
The cryptocurrency world is a place where you can make money based on your own strength. Because the pace is fast enough, the frequency of making mistakes will also increase.
No one can guarantee that there will be no mistakes in the future, because among the 400 million investors in the cryptocurrency circle, only a very small number of people have the correct investment concept and patience.
Therefore, only by calming down and learning and improving yourself can you really find opportunities. Otherwise, the more radical you are, the easier it is to make mistakes.
With the strength of Bitcoin, once it stabilizes at $65,000, plus the official trading of Ethereum ETFs, the market will definitely have a good wave of rising prices.
During this period, there will definitely be many dark horses that stand out. The market has come to this point, and the wealth effect is needed to maintain the heat, and more people are needed to enter the market.
Otherwise, who will the main players sell their chips to? They have almost finished their layout, and what remains is to create momentum, drive the inflow of off-market funds, and find an opportunity to cash out at a suitable high level.
Let us witness the madness of the second half of 2024. The feast of the cryptocurrency circle has just begun. Cheer up, find the right opportunity, buy decisively, and embark on the train of wealth.
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