Bitcoin fell this morning, reaching a low of 92,500, but the Fibonacci 100 strong support was not broken, and 91,500 was still supported. In the short term, the bullish trend continued, and the 15-minute and four-hour charts showed that it would no longer go down during the day. The early morning wash has passed, and it is recommended to set a stop-profit and stop-loss before opening an order, and pay attention to whether the 93,900 retracement support is effective. It was mentioned yesterday that when Bitcoin fell, you could consider buying, and the overall market is still positive.
There may be a small rebound today. Currently, 94700 is suppressed by the EMA5-day moving average. It needs to be observed whether it can break through and stabilize. There are still 11 days before Trump takes office. The risk this month is relatively high. The release of non-agricultural data tomorrow may bring fluctuations. Be sure to do a good job of risk control and pay attention to market fluctuations
In the past two days, Bitcoin has dropped by 10,000 points! It turns out there was insider information!
The real reason for the crash: The U.S. Department of Justice has approved the sale of $6.5 billion worth of seized Bitcoin. The recent drop mostly occurred during U.S. stock trading hours, indicating that some on Wall Street had prior knowledge of the news and sold off. Previously, there had been analysis of the reasons behind Bitcoin's drop of 10,000 points, but a normal market correction could not happen without some rebound; this time it was an unexpected black swan event.
For such situations, retail investors can only endure; doing a good job in risk control is the most important. High-leverage contracts need to have stop-losses, while holding spot or low-leverage positions steadily, waiting for market sentiment to recover. Perhaps after Trump takes office, policy directions may change; for instance, no longer selling Bitcoin but instead treating it as a strategic reserve—this was one of his previous commitments.
Additionally, it may take over a year from approval to actual sale, so there's no need to panic excessively. Once the panic subsides, the coin price will naturally rebound.
In the face of the current market, how to deal with altcoins? My approach is very simple:
Gradually build positions and control risk.
When building positions, strictly control the drawdown space within 10%. After the first batch achieves 10% profit, shift to layout the next target until funds are exhausted, choosing a maximum of three tracks with three popular coins.Flexibly respond to market changes.
If uncontrollable factors in the market lead to a major pullback:For profitable coins: completely liquidate and lock in profits.
For coins without profits: continue to hold and gamble on a rebound. Either successfully recover the cost or incur a small loss to avoid deep entrapment.
Prevent a break in the funding chain.
Once altcoins turn bearish with the market, most may face halving. After being deeply trapped, one can only go back and forth in an elevator without the ability to flexibly strike in the new market. Therefore, controlling positions and keeping enough ammunition is crucial.
Currently, there are not many opportunities in altcoins. Here, I will only share my trading experience, hoping it can help everyone.
Let's briefly look at the situation of two altcoins; there really isn't much to say about the secondary market right now!
ai16z's entry position? $AI16Z
The current dense chip area is located below. It is recommended to patiently wait for the price to pull back to the 0.915 and 0.5 areas; if a rebound occurs, it can be considered for entry.
T branch support is strong $T
From the perspective of the market, a pullback after a breakout has been completed, and we are currently in a rebound phase. The stage TP can be set at the previous high: the 0.041 area.
Currently, most altcoins have not shown signs of stopping the decline; it's a sea of red, and I don't want to look anymore. I don't know what tomorrow morning will look like, so here are a few chain scanning tools to recommend:
GMGN: https://gmgn.ai
CHAINFM: https://chain.fm
PUMPNEWS: https://pump.news
When used well, every tool is very smooth; it can't be said to be immediate, but it can capture and understand various on-chain projects in a relatively short time.
Today's article ends here. Currently in a bull market, with winds and clouds stirring, we share codes every day. If you don’t know what to do in a bull market, feel free to follow; bull market spot codes and layout strategies can be shared free of charge. Let's embrace the bull market, improve our win rate, and say goodbye to being trapped at high positions.