Market summary:
Although the short-term rebound and stabilization of Bitcoin are good, looking at the situation of the altcoin, traders are still nervous. After Bitcoin stabilized above 62,300 in the short term, there was a significant increase in trading volume. This increase will continue as the Bitcoin price stabilizes above 62,300. The increase in short-term trading volume and turnover will help the price to bottom out in the short term and facilitate subsequent price breakthroughs.
As for the breakthrough above, the focus is currently on the daily resistance level we mentioned today. If this position breaks through, we can directly look at the resistance level of 67,200 on the monthly line. The overall environment is not good at this stage, so we must pay attention to the fact that we don’t have to chase the rise. We must pay attention to the breakthrough and stabilization before we start.
As for the altcoin, as long as tomorrow’s producer price index and Wednesday’s CPI data do not show obvious negative news, as long as Bitcoin continues to stabilize and run on the upper track of the daily Bollinger Band, the altcoin will gradually rebound after Wednesday, so don’t be anxious. However, don't be too optimistic after the rebound. If the position is too heavy, you must adjust the altcoins in your hands to reduce the position. Of course, this reduction is based on personal circumstances, not mindless selling.
For the future, I firmly believe that we will usher in a wave of altcoins and Bitcoin bull markets, so if you are trapped in the short term and cannot get out of it, you must learn to use time to exchange space. If you want to get advice, old fans can find me privately and indicate your own ideas, whether to hoard coins or adjust positions, the target of each token, the cost price, and the position situation. If time permits, I will sort out and reply one by one.
