Market Analysis (Issue 14) $BTC
Today is the 30th, Bitcoin is being dominated by bears in the 6-hour cycle, testing back and forth around 93,000. There have been no breakthroughs of new lows in the smaller timeframes, and the market is at a turning point. As the month-end closing approaches, it is advisable to wait for a clear direction before entering the market; participating in speculation is not recommended due to high risks.
Ethereum has been performing quite strongly lately, with no new lows in sight. Additionally, recent ecosystem projects like ena, ens, ssv, and ldo have started to rebound, which has boosted market confidence. However, as long as Ethereum's price remains between 3,100 and 3,500, it's best not to take unnecessary risks; if you make a profit, it’s wise to exit.
Solana has also become active on-chain recently, and the market is increasingly optimistic about the approval of the sol etf after the holiday. With these expectations, Solana should be able to hold steady in the short term. The recent price of sol has been fluctuating around 189.73; if the short-term trend continues to rise and moves away from this price level, it may be an opportunity to go long.
The retail trio in the altcoin sector, pnut, act, and neiro, has also started to rebound today. They had previously fallen sharply, and a technical rebound is indeed due; otherwise, continuing to drop like this would lead to a market with insignificant price movements 😂.
Jason suggests that the closing market is likely to reverse, and it is advisable to stay out of the market and observe.
