This morning, the weather changed. Bitcoin just broke through the $100,000 mark yesterday morning, but today it dropped sharply to $94,000. A successful wave of inducing longs led to over $1.7 billion in liquidations. Long positions reached $1.55 billion. Ethereum even dipped to $3,509. With the decline of Bitcoin and Ethereum, almost all popular coins are also going down. Is the bull market coming to an end?
In fact, this is a normal technical correction; the bull market has not completely ended. Yesterday, we advised our members to clear out positions if they needed to and to reduce positions if necessary. Moreover, since last week, the frequency of trade calls has significantly decreased.
I believe that this wave of significant decline has caught many friends off guard, and there are certainly many positions that are stuck. My current advice to all friends is to try to stay away from the market. For those dealing in spot, do not enter blindly, as the pullback has not completely ended, and there may be another decline of around 50%. Entering the market now could greatly increase the chances of being stuck at a high point, and those with a poor mindset may cut losses, resulting in damage. For those currently holding positions, if your entry point is relatively low, if it's time to exit, then exit; profits should be pocketed before paying, don’t be greedy! For friends who have high entry points and are stuck, consider reducing your position.
Friends trading contracts must also be cautious, as the market is highly volatile. Frequent operations are not recommended, as it is easy to encounter sudden price spikes. Even when trading, be sure to set your take-profit and stop-loss levels. Even if you incur a loss at the point, you must decisively exit and not blindly average down; as small retail investors, we cannot compete with the big players.
Usually, in the second half of my articles, I recommend potential coins to accumulate, but based on the current market trend, the overall direction is still downward. Entering now means taking a high risk for a small profit, so I won’t recommend any coins to enter today. We will wait for a suitable low point to re-establish our positions.
From the end of this year to the beginning of next year, we will enter the third phase of the bull market, where a large amount of capital and main forces will flow into altcoins. At that time, DOGE, PEPE, SHIB, and other altcoins will experience a wave of explosion.
Recently, we have been laying out potential altcoins with doubling opportunities and promising second-tier mainstream coins. This is our recent performance. If you have been frequently stuck or cutting losses on trades lately and feel confused, not knowing where to start, feel free to chat with me. I will guide you to steadily profit in the bull market!
Investment always comes with risks. If you want to reduce risks, check out my public account! I'm Brother Lei, codename Stable! I have focused on the cryptocurrency market for seven years. I conduct in-depth research on primary projects and secondary markets. Learn more about quality primary project information and secondary trading recommendations. Just to safeguard your investments in the crypto world!
