April 6, 2024 Grandpa checks in

The holiday market continues to be flat. At present, the short-term decline has stopped. This position of Bitcoin is temporarily maintained. The probability of continued decline is small. If you add a certain position at this position, you can hold the currency and wait. After this wave of decline, the funding rate has fallen rapidly, and some have reached the most basic rate range, but there is still a bullish sentiment overall. There is no need to worry about falling too fast. After all, the bulls have already admitted a lot. If it really falls again, you can add some more in batches. However, the price gradient can be set according to the price of Bitcoin. The next big bargain hunting price range is between 60-61k.

In general, it is necessary for us to prevent risks, which is what I have been emphasizing recently. If you did not reduce your holdings at high levels, you may be stuck in a rut now. If it were me, I would not increase my holdings at this position, and I would even take profits reluctantly even if I did not sell at the previous price. Price anchoring is actually a common mistake in investment. If you are reluctant to sell at 70,000 or even 65,000 because the price of the cake has reached 73,000, then in the end it is very likely that you will sell it when it falls to 15,000 and then rebounds to 20,000.

Of course, if you have already entered the stop loss period, it can only mean that there is something wrong with your general operation. Basically, you did not dare to buy in the bear market, and chased high in the bull market. If the main force does not push up at this position, it is also possible. After all, after months of bullish sentiment, there will be buyers and bargain hunters if the price continues to fall. In any case, the previous bearish trend has been initially verified. In general, there will still be wide fluctuations in the future, and you should be willing to sell if it rebounds again.

The next direction depends on the breakthrough of Bitcoin to 70,000. Whether it is sideways or down, it is not conducive to the breakthrough of Bitcoin. Morale will gradually decline, including the OTC market. The inflow and outflow of ETF funds are directly affected by the price of Bitcoin. I prefer the trend that the market will have several more wide fluctuations, constantly washing out the bargain hunting funds, while keeping more spot in the hands of the main players, and then make adequate preparations for the big bull market next year.

Thank you for your attention and likes.