Last night until this morning, Bitcoin's market saw a decline.
If you FOMO when prices rise and panic when they drop, I advise you to withdraw and leave this market early.
Bitcoin has been on a continuous rise for over ten days, only to welcome a somewhat significant correction. Can the bears also have a peak? I don't understand the G-point of the bears. If it's a complete upward trend, from a timing perspective, we are only at the starting point. Making plans and conducting research is what we should be doing now, rather than letting the fluctuations of K-lines dictate our emotional decisions.
The short-term strategy focuses on low buying. Overall, there is resistance around 69,500, and a rebound can be made around 67,000 for a short-term profit of 1,000 points. Many friends start to panic in a downtrend, but there's no need; this level of market fluctuation is minor.
For those with insufficient positions, it's recommended to buy while prices are falling and not always aim to buy at the lowest point.
Life is unpredictable; we are not gods and cannot perfectly time the bottom. If someone tells you they can, they are certainly a scammer.
In short, a drop is an opportunity to buy at the bottom; don't miss the chance.
The real test is this kind of market: three days up, one day down, two days of consolidation.
However, when analyzing the market, one should not only look at the current price but analyze and summarize from past market movements to find some patterns.
Conclusions drawn from objective facts will be closer to the truth, allowing you to decide whether to hold onto your coins or liquidate and observe.
Will there still be an altcoin season in 2024? What investment opportunities are available now?
In this bull market, the long-awaited 'altcoin season' seems to have stirred recently, starting from APE to DYDX and SUSHI, with many altcoins experiencing significant increases. Is this really a return of the bull, or are altcoins taking the opportunity to announce good news before offloading? Why is the 'altcoin season' pattern that was once inevitable in the crypto market not working this year?
How did previous altcoin seasons come about?
In the past few bull runs, the arrival of altcoin season seemed inevitable. When the prices of Bitcoin and Ethereum rise, investors gain enough profit from mainstream coins, and funds gradually overflow into the altcoin market, which is more volatile but potentially offers higher returns. As a result, altcoins see successive increases, forming a unique 'altcoin season' market.
However, in 2024, this pattern seems to have faltered. Bitcoin's price skyrocketed due to the halving event and ETF catalysts, climbing from 26,000 to a high of 70,000. Mainstream funds have already reaped considerable profits. Normally, this would be the time for altcoins to shine, but the reality is disappointing. Many investors who anticipated a repeat of historical trends have been caught in deep losses. This year, very few altcoins have outperformed Bitcoin, making it like searching for a needle in a haystack to choose the right altcoins.
As the market enters October, the only thing worth doing is choosing strong sectors' 'dark horses.' This is the only opportunity for ordinary people to overtake in a curve.
APE: This week, a 'dark horse' appeared out of nowhere.
This coin's surge can be described as a continuation of this year's 'violence,' rising without mercy.
This is also one of the biggest attractions in the crypto space, which everyone looks forward to.
Endnote.
Altcoins can achieve in a month, a week, or even a few days what major coins need 1-2 years to accomplish. Trading mainly involves understanding your own capabilities. If you can't grasp the main storyline of the altcoins, then holding onto major coins along with a few altcoins you believe in, without switching positions, until the timing is right or the price reaches your expectations for selling can be a good strategy.
