In recent days, the market has fluctuated like a roller coaster, with many traders seemingly driven by adrenaline, racing to chase price highs.
However, when you are ready to enter with confidence, those experienced traders have quietly exited or are gradually locking in profits. Why do you always buy high and sell low, repeatedly falling into traps set by others and continuing to incur losses?
You lack a systematic trading strategy, trading impulsively without distinguishing between true and false trading signals, making it easy to fall into the traps of seasoned traders.
Most people desire to get rich overnight, which is precisely the fundamental reason they cannot accumulate long-term wealth. Only a few understand the value of patience and discipline, ultimately achieving financial freedom.
It's time to break out of the cycle of impulsive trading, reflect calmly, and focus on building a trading system that suits you.
Currently, the weekly structure of altcoins has significantly weakened, but the monthly structure remains robust, indicating that the overall market is still on an upward trend. However, more attention should be given to risk management rather than blindly chasing prices.
With numerous long traps appearing, altcoins are entering a market adjustment phase, so caution is advised.
In the current market environment, it is crucial to act cautiously. While it's not advisable to easily open short positions, one should also take profits at high points and wait for more favorable entry opportunities.
The support of the monthly structure remains strong, indicating that the mid-term upward trend remains unchanged, but patience is key.
The 4-hour chart shows that the price is testing previous resistance levels, with significant selling pressure around $97,500 and $98,500.
On the daily chart, the price trend shows divergence, suggesting that the market may further adjust.
The weekly structure has been breached, indicating that the market is in an adjustment phase, but the monthly structure remains solid, and the overall upward trend of the market has not changed.
ETH shows both upward divergence and resistance.
Ethereum shows upward divergence but is approaching an adjustment range.
On the 4-hour chart, Ethereum is testing previous highs, with resistance levels at $3,500, $3,800, $4,200, and $4,600.
Despite facing selling pressure at these price levels, the market may experience a short-term adjustment, but the mid-term upward trend remains optimistic, thanks to a robust monthly structure.
Ethereum weekly structure: weakened; monthly structure: robust.
Altcoins are poised for action.
Altcoins are entering a consolidation phase, waiting for the overall market adjustment to end.
Among the 350 altcoins monitored, fewer than 50 maintain a weekly structure, and 120 maintain a monthly structure, indicating a significant decline in stability.
If the number of altcoins with a stable monthly structure exceeds 150 or the total number of altcoins with stable weekly and monthly structures exceeds 110, the altcoin season may truly arrive.
Key structural insights (comparison with today and yesterday):
Weekly structure: reduced from 52 to 45.
Monthly structure: drastically reduced from 250 to 110. Total number of stable weekly and monthly structures: decreased from 48 to 42.
These data highlight the cooling of market sentiment, especially in the altcoin sector.
Reject emotional trading, and don't blindly chase prices; most quick profits have been harvested by seasoned traders.
Focus on learning, utilize this opportunity, and build a trading system that suits you. Distinguishing between true and false market trends is the key to success.
In the face of long traps, avoid opening short positions, but take profits at high points and wait for sufficient adjustment before seeking entry opportunities. The current market adjustment phase is a time for observation and strategy refinement, not excessive trading.
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