If it goes up, it's bullish; if it goes down, it's bearish. Interesting crypto market, interesting people.
The theory that if it goes up, it may not be bullish, and if it goes down, it may not be bearish was first proposed by Mr. Ni. I think the summary is very concise, and I have been using this sentence.
In the field of investment, short-term price increases or decreases cannot be used to judge whether the direction of the general trend has changed. There is often a reverse trend in the rise or fall, and the short-term reverse trend can actually be regarded as a rebound or callback. But what's interesting is that many people often find various uses to continue their views when the price goes up or down, which may not be objective enough.
People who are familiar with me know that I was mostly recharging my faith throughout April, but as I observed the changes in the data, I understood that the general market environment was like this, and the market lacked new hot narratives, so the short-term trend must change. So when I found that the funds in the market continued to flow out continuously, it meant that the trading confidence of some traders disappeared.
In the early morning, due to the speech of Powell of the Federal Reserve, the price tried to break through 60,000 in the short term, and then fell back again. Many people think that the correction is over, but combined with the overall sentiment, combined with the dynamics of funds, and looking at the performance of US stocks, the risk market is really not optimistic at present, so the short-term rebound breakthrough may be a bit too optimistic.
For the current market, under the rapid decline, if the short-term price rebound cannot effectively break through and stabilize the two positions of 60,000 and 63,500, it is still not bullish, and can be regarded as a short-term oversold rebound.
Moreover, at this time, the mood should not be too pessimistic, and of course, do not be too optimistic about FOMO. The market correction also needs to temper the temper.
