The market's drastic fluctuations yesterday were actually just sector rotations, a buildup before the popular sectors switched. The current volatility may be a time for some to get trapped, or perhaps it's when someone starts to cut losses at the bottom. The market's performance yesterday changed from the chaotic rise of the previous day, leaving many people at a loss for what to do. For many old cryptocurrencies that have recently risen, some came in at high prices, and now many are hesitant. These old mainstream coins can be viewed as a current phase hotspot because they play a significant role in waking up the previously exited investors to return to the crypto space, bringing in new funds. Subsequently, leading coins in major sectors and mid-to-large market cap coins will experience a good rebound, followed by small-cap altcoins;
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Bitcoin's performance on Saturday and Sunday was relatively slow, mainly focused on adjustments, which is within our expectations. After reaching a new high of 99623 early Saturday morning, it formed a downward trend and entered a period of adjustment. The lowest point at midnight came to 95840, initiating a rebound, currently operating around 98000. From the current structure, in the short cycle, the coin price is entering an adjustment trend after peaking and then falling back, and currently, it is trending towards price correction, with the retracement being limited. It can also be understood that the correction is merely a method for the bulls to gather momentum, as there is still plenty of space above. As long as there is no deep retracement or continuous reverse movement in the short term, it won't be sufficient to cause a reversal. For the future, we still treat it as a buildup, and after the trend completes, the coin price will rise again. At the beginning of this week, we remain optimistic about the bulls breaking through the previous high.
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