Another wave of a more than 5000-point drop occurred early this morning, and the altcoins have collapsed! Many players will likely wake up to find their accounts completely depleted! This is the cruelty of the market, so we must always respect it! Alright, let's return to the chart. After the major coin spiked to 94150, it rebounded all the way and started to oscillate after hitting the key resistance level of 98020. It is now approaching this 98020 resistance line again and is under pressure to move down! For this rebound to continue upward, it must break through and stay above 98020 to test the next key resistance level of 99277! Now, looking at the daily chart, there is a positive signal: BTC has reclaimed the middle Bollinger Band on the daily chart, which is a good sign, indicating that the strength of the rebound is still robust! Therefore, in the short term, it is likely to oscillate around this position. Overall, however, I am not optimistic about the market's future; the risks clearly outweigh the opportunities, and it's too early to bottom-fish! Unless a reversal structure appears at a smaller scale, I will remain on the sidelines for now!
