Bitcoin dropped this morning, hitting a low of 92,500, but the Fibonacci 100 strong support has not been broken; 91,500 remains support. In the short term, the bullish trend continues, and the 15-minute and 4-hour charts show no further decline during the day. The washout in the early morning has passed, and it is advised to set take profit and stop-loss before opening positions, paying attention to whether the 93,900 retest support is effective. As mentioned yesterday, it can be considered to buy when Bitcoin drops, as the overall market remains optimistic.
Today there might be a slight rebound; currently, 94,700 is under pressure from the 5-day EMA, and we need to observe whether it can break through and stabilize. Trump has 11 days left in office; this month carries significant risks, and tomorrow's non-farm payroll data release may bring volatility, so be sure to manage risk well and pay attention to market fluctuations.
In the past two days, Bitcoin has directly dropped by ten thousand points! It turns out there was insider information!
The real reason for the crash: The U.S. Department of Justice has been authorized to sell $6.5 billion worth of seized Bitcoin. The recent decline has mostly occurred during U.S. stock trading hours, indicating that some people on Wall Street had prior knowledge of the news and sold off. Previously, we analyzed the reasons for BTC's drop of ten thousand points, but a normal market correction cannot happen without any rebound; this time it turned out to be a sudden black swan event.
For this situation, retail investors can only bear it; managing risks is the most important. High-leverage contracts need to have stop-losses, while spot or low-leverage positions should be held steadily, waiting for market sentiment to recover. Perhaps after Trump takes office, there will be changes in policy direction, such as no longer selling BTC but instead using it as a strategic reserve—this was one of his previous promises.
Additionally, it may take more than a year from approval to actual selling, 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 handle altcoins? My operation is very simple:
Gradually build positions and control risks.
When building positions, strictly control the pullback space within 10%. After the first batch of positions gains 10% profit, shift to layout the next target until the funds are exhausted, choosing at most 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: liquidate all positions to lock in profits.
For non-profitable coins: continue to hold and gamble on a rebound. Either succeed in recovering the cost or incur a small loss to avoid deep entrapment.
Prevent a break in the capital chain.
Once altcoins turn bearish with the market, most may face a halving. After being deeply trapped, one can only go back and forth in an elevator, unable to strike flexibly in a new market. Therefore, controlling position size and keeping enough bullets is crucial.
Currently, there are not many opportunities in altcoins; I'm just sharing my trading experience here, hoping it helps everyone.
Let's take a simple look at the situation of two altcoins; there isn't much good to say about the current secondary market!
ai16z's entry position? $AI16Z
The current concentrated chip area is located below. It is recommended to patiently wait for the price to pull back to the 0.915 and 0.5 areas; if a rebound occurs, consider entering.
T branch support is strong$T
From the perspective of the market, we have currently completed the pullback after the breakout and are in the rebound phase. You can place a phased TP at the previous high: the 0.041 area.
Currently, most altcoins have not shown signs of a stop in the decline; everything is red, and I don't want to look at it. I have no idea what it will look like when I wake up tomorrow. Let me recommend a few chain scanning tools:
GMGN：https://gmgn.ai
CHAINFM：https://chain.fm
PUMPNEWS：https://pump.news
When used well, every tool is very smooth. I can't say it's instantaneous, but it can capture and understand various on-chain projects in a relatively short period.
Today's article ends here; we are currently in a bull market with swirling clouds, and we share codes every day. If you don't know what to do in a bull market, feel free to follow us; we share spot codes and layout strategies for the bull market at no charge. Let's embrace the bull market, improve our win rate, and say goodbye to being trapped at high levels.