Today, let's continue to talk about the market. When there's no market, focus on gaining traffic; when there is a market, focus on making money! (Old fans, come interact, there will be a wave of lucky draws arranged later.) Recently, a wealth group for old fans will also be established!
Recently, the market in the cryptocurrency circle has been lukewarm. On the surface, positive news comes one after another, but the market is like a still pond, calm and undisturbed.
This has puzzled friends trading in the cryptocurrency circle. Looking at the market, they might be wondering: Has the bear market really begun? In fact, regarding the market direction, Mr. Fang has always believed that those quality altcoins with the potential to break out are about to welcome a jaw-dropping surge.
However, we also need to be clear that profits and risks always go hand in hand. Are you accurate in your judgment of market trends? Is the fundamental aspect of the chosen cryptocurrency good? Is the asset allocation reasonable? Is the risk control in place? All these factors need to be considered. It's like fighting a war; everything must be arranged properly to win the battle.
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Back to today's market: In the last tweet, I briefly shared my view on the market based on the USDT.D Bitcoin inverse. Today, let's take a look at the trend of this indicator. From the chart, we can see that it has now broken below the trend structure line, which was not broken last time. The longer it stays below the trend line, the greater the probability of further declines. Therefore, corresponding to the current Bitcoin market, we can also see that the situation is gradually strengthening. This means: the decline of Bitcoin's inverse indicates that Bitcoin will rebound, "and is expected to touch the price of one hundred thousand." I won't say it will definitely reach one hundred thousand, but the probability is quite high. Currently, we are in a phase of fluctuation + rebound, so we just need to be patient and wait. Those who haven't entered can gradually buy in at lower levels. Today's support is around 90700, with resistance around 94500!
Let's take a look at Ethereum: Recently, ETH has experienced a surge and then a pullback, breaking through the first resistance level. It aims to challenge the second resistance level, which is within expectations. Currently, it seems to have stabilized above the first resistance level, and as long as Bitcoin can easily lead the way, ETH can easily reach the second resistance level, with prices around 3600. For those who got in earlier, hold on tight; a rebound is expected.
