$BTC

Last night, Bitcoin (Big Pie) started to pull back from a high of $100,390, dropping to a low of $94,150 before bouncing back to around $97,000. After another drop, it rose again to $98,100. Currently, the price is stable around $96,000. Analysis shows that the $94,000 to $95,000 range is a strong support area, and if it breaks down, it may test $91,000.

Ethereum (Small Pie) also fell with the market, dropping from a high of $3,950 to $3,500, a decline of 10%. $3,500 is a key support level, and it is recommended to build positions in the $3,550 to $3,600 range. If it drops to $3,250, additional positions can be added, and further accumulation can continue down to $3,000.

The decline of other altcoins is mainly due to Ethereum's failure to break through $4,100, leading to a correction. The market, which has risen from the bottom, has not yet experienced a correction, with gains reaching 2 to 3 times. Currently, only Ethereum and Dogecoin have not broken their historical highs, while other popular coins are close to or have exceeded their previous highs.

I have always predicted that the market would adjust this month, considering it a normal market correction. If it continues to decline, this could be a monthly-level adjustment, after which the market is expected to rebound again.

It is advisable to build positions in altcoins in batches; now is a good time to start purchasing. If the market continues to decline, gradually accumulate in batches.

In the short term, attention should be paid to whether Microsoft will decide to purchase Bitcoin, as this could have a short-term impact on the market. At the same time, pay attention to the interest rate decision in the early morning of the 19th of this month; if the expectation of a rate cut is not met, it may negatively impact the market.

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