We will provide you with valuable and interesting cryptocurrency information.
Author: Bi Xuzhang
Cut losses, admit losses quickly, and let profits run
At present, the negative factors in the market are about to be digested:
The bull market is on the way.
1/ The Mentougou incident has ended. This kind of incident has always been like a time bomb, often disrupting the rhythm of the market. At present, Mentougou has completely solved the problem. The selling pressure generated by its 140,000 BTC is not prominent, and there will be no negative factors caused by Mentougou's compensation in the future. The market needs to wait for the selling pressure to be digested to create conditions for subsequent increases.
2/ The panic index has reached panic levels, which usually means that the wash market is nearing the end. Market sentiment is expected to gradually recover, laying the foundation for future gains. The activities on the blockchain are relatively sluggish, and the on-chain activities of BTC and ETH continue to be sluggish, and GAS fees are also extremely low.
3/Historical data shows that whenever the downturn in the on-chain activity cycle lasts for more than two months, it often indicates a favorable signal that a rebound is about to come.
4/SEC's regulatory attitude has eased. In the past two years, the SEC has been unfriendly to the crypto market, causing market concerns. At present, affected by the election, the SEC's attitude has improved, and it has approved the BTC ETF, and the ETH ETF may also be approved. In addition, several altcoins that were once targeted by the SEC have also received good news, and the SEC seems to no longer take any action against them.
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Daily market analysis - ETH
The market started a strong rebound as analyzed before. The price is now above 3300 and is only 200 points away from the previous pressure level of 3500. It has just broken through the downward trend line. Those who have opened short-term orders at 3000 can gradually close them and wait for the next round of increases to start after a strong breakthrough of 3500.
Daily Bitcoin Analysis - $BTC
Bitcoin rebounded from the bottom of 53,000 and has now reached 63,000, rebounding nearly 10,000 points. It has also overcome the previous strong resistance level of 62,000. The rebound has passed the central area. We can no longer continue to be bearish and have to stand firmly at the 62,000 line. We will first see a large shock in the 70,000-62,000 range, and we can do a wide range of shocks.
Final Thoughts
Please always remember that only a few people can make money in the cryptocurrency market, and the vast majority lose money.
When the bull market comes, you need to understand one thing: who makes money and who provides the money in the bull market. A big bull market is a big transfer of wealth. There is a greater probability that your only money will be transferred to other people. Retail investors should be more in awe of the bull market.
