Last night's Microsoft shareholders meeting did not pass, affecting the Bitcoin price to dip near 94500 again, but the morning closing price still remains above the 96000 range, currently fluctuating slightly within the ranges of 960000-97300-98300. The current trend is not over yet; it's merely a small cycle adjustment. There's no need to panic, especially since no one dared to bottom-fish under such circumstances last night; I, for one, am in.
My logic is that there hasn't been an effective breakdown of my fluctuation range; if it drops, I'm willing to buy. If it's a short-term rebound at the upper range, then I'll reduce my position. If it breaks and stabilizes on the right side, that's a good point to increase holdings.
Ethereum once again dipped to around 3500 last night. I believe friends who were in the internal group last night should know that I bottom-fished and got in again.
I don't know what you all think, but a few days ago when it was in the 3950-4050 range, I was selling off and calling for reductions. Many of you were clamoring to enter, wanting to chase after just touching 4000 and not standing firm, influenced by the market's FOMO, seeing 4800, 6000, or even 10000 without being willing to wait, directly jumping in. Now that it has returned to around 3500, you hesitate to enter again or may not have the funds to do so.
For Ethereum Layer 2 series, if you are holding the spot Layer 2 coins, there's actually no need to worry. The average price is currently down by less than 10% in floating losses. Compared to others in the market who are chasing highs, you are still quite fortunate. A slight rebound will yield profits. These price ranges are quite significant. In the future, if ETH pushes towards 4000 again, that will be your best cost price position, so there's no need to worry. It could recover in as fast as 3-5 days, or slower in about 7 days. If you are fully invested and prices have risen, just reduce the cost at high positions. Always allow yourself some liquidity in spot operations to maintain an invincible position.
Is there going to be a turning point in the crypto market tonight?
At 9:30 PM, the CPI will be released. Currently, the market is generally pessimistic, expecting CPI to rise to 2.7%. Meeting expectations won't trigger negative news, but if the result is lower than expected, it could provide a significant boost to the crypto market.
And do you know? Bitcoin has fallen to this bear-like state these past two days, but Wall Street ETFs are still increasing their positions. They clearly view these declines as opportunities to bottom-fish rather than to escape the peak. So don't misjudge the current situation; this crash is merely a clean-up of leverage, and consolidation will continue to rise.
Recently, there are indeed reasons for the rise in the crypto market, as the Federal Reserve is expected to cut interest rates next Thursday, which should be a turning point.
Also, did everyone bottom-fish during last night's crash? Don't give up your faith; the bull market has just begun!
Finally, let's analyze BAN, PNUT, and SHIB.
BAN has been absorbing funds at the bottom; it's just that the adjustment time has been too short. The longer the adjustment period, the stronger the subsequent breakout.
There are significantly more funds looking at Pnut compared to Ban, so when Ban broke through an important support level, Pnut basically didn't break down, with more funds showing confidence.
Is it safe to buy PNUT right now? This major pullback hasn't broken through important levels, so it's still relatively safe. If you say it's particularly safe, that's hard to say; mainly, it hasn't experienced a long adjustment period.
The Shib in 2021 was like this, constantly absorbing funds at the bottom, neither rising nor falling, washing out for 6 months, and then surged 20 times. This kind of trend is particularly safe.
Currently, both BAN and PNUT can be bought, but don't easily go heavy unless you really have a strong hold; diversification is still necessary.
