Good afternoon, brothers. I woke up and saw the sky falling. Bitcoin plummeted 5 points, and the altcoins fell 25%+. The number of liquidated people and the amount of funds are comparable to 3.12. I didn’t escape 3.12. Fortunately, this wave has nothing to do with me. I currently only have Bitcoin and BNB spot. Brothers who wait for Bitcoin to fall every day to buy spot, do you dare to enter the market now that it has fallen sharply? Is the fund still there?
The trend of the altcoin has proven that even if you hold the altcoin with 3x leverage, you will be taken away at once, and this is only when the price of Bitcoin drops by 5%. If the price of Bitcoin drops by more than 10%, the altcoin's pins will basically be more than 40%. This is why I have always told you not to play the altcoin. It rises fast, but it also falls fast!
This drop has taught us a lesson:
Do not use leverage in altcoins (altcoins inherently carry leverage).
Risks are everywhere; one must be vigilant and respectful of the market. Profits must be realized and turned into actual cash to be truly safe; otherwise, they are just virtual gains.
This market is not about who makes more money, but about who survives longer.
The recent drop in Bitcoin has quickly recovered, and it didn't even reach the first weekly support level I provided yesterday (200+ USD short). Ethereum directly broke below the second weekly support level of 3550 that I provided.
If Bitcoin continues to drop, the strongest support to watch is around 90,000, while Ethereum is focused on the 3300-3400 range. If it reaches this position, long contracts can be entered; those wanting to enter spot can do so (I won't be entering), but remember to exit.
After this wave of market adjustment, Bitcoin will definitely rise first, and then funds will flow into other sectors. For altcoins to rise together, Ethereum must rise first; if Ethereum doesn't rise, don't expect too much from altcoins!
Today's market analysis:
$BTC Bitcoin is currently starting to pull back on the daily level, with smaller levels in a bearish trend. Today, pay attention to the position of 97160. Only if it stabilizes above this level, the 1-hour level can start to rebound. Pay attention to the target/resistance levels around 98200-98978-99785!
If today's 1-hour closing does not stand above 97160, it indicates that the rebound lacks strength. Continue to pay attention to the support levels around 95610-94700-93615!
$ETH Ethereum is currently starting to pull back on the daily level, with smaller levels in a bearish trend. Today, pay attention to the position of 3736. Only if it stabilizes above this level, the 1-hour level can start to rebound. Pay attention to the target/resistance levels around 3786-3856-3905! (If it stabilizes above 3786, this wave of daily pullback ends.)
If today's 1-hour closing does not stand above 3736, it indicates that the rebound lacks strength. Continue to pay attention to the support levels around 3651-3617-3535!
$SOL SOL is currently starting to pull back on the daily level, with smaller levels in a bearish trend. Today, pay attention to the position of 218. Only if it stabilizes above this level, the 1-hour level can start to rebound. Pay attention to the target/resistance levels around 221.6-226.3-231.8!
If today's 1-hour closing does not stand above 218, it indicates that the rebound lacks strength. Continue to pay attention to the support levels around 212.1-207-200! (If it breaks below 200, the weekly level starts to pull back.)
BNB is currently starting to pull back on the daily level, with smaller levels in a bearish trend. Today, pay attention to the position of 694. Only if it stabilizes above this level, the 1-hour level can start to rebound. Pay attention to the target/resistance levels around 704.4-718.1-727.6! (If it stabilizes above 704.4, this wave of daily pullback ends.)
If today's 1-hour closing does not stand above 694.2, it indicates that the rebound lacks strength. Continue to pay attention to the support levels around 678.4-663.5-642.4!
DOGE is currently starting to pull back on the daily level, with smaller levels in a bearish trend. Today, pay attention to the position of 0.414. Only if it stabilizes above this level, the 1-hour level can start to rebound. Pay attention to the target/resistance levels around 0.423-0.437-0.448!
If today's 1-hour closing does not stand above 0.414, it indicates that the rebound lacks strength. Continue to pay attention to the support levels around 0.389-0.378-0.369!
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