Today the market is again in the red, Bitcoin has dropped by 3 points, Ethereum and BNB have fallen by more than 5 points, and SOL and some altcoins are worse, directly dropping by around 10 points. Many brothers might have been happy last week, but today they are a bit confused—how come on Monday, with just one comment from Huangmao, the market just crashes down?
This is actually the market; as soon as there is a breeze of news, emotions can easily tilt to one side. But when we trade, we can't just follow emotions. Altcoins are highly volatile; they surge fiercely and drop hard. Many people playing around find that making money and actually having money are two different things.
Still the old saying, for beginners or those seeking stability, try to keep an eye on mainstream coins, which have relatively smaller fluctuations, making you feel more at ease.
The key position for Bitcoin today is around $93,500.
If today's closing can hold above this position, the daily rebound trend will still be in place, and we can continue to pay attention to the upper pressure: 94,550, 95,800, 96,800.
But if it doesn't close above today, that indicates the rebound strength in this wave of decline is insufficient; next, it may need to retest. The lower support levels to focus on are 91,800, 90,400, 89,300.
The key position for Ethereum today is around $3,230.
Like Bitcoin, whether the daily closing can hold this position will determine whether the short-term rebound can continue. If it holds, the upper pressure levels are 3,277, 3,320, 3,360. If it doesn't hold, the lower support levels to watch are 3,175, 3,128, 3,090.
How to respond in terms of operations?
If you previously opened a long position at a high level, for example, above 94,300, and your position is relatively heavy, you might consider adding a bit around 90,100 to average down your cost and wait for the rebound.
Ethereum is similar; if you're trapped above 3,250, you can add a position near 3,100. For the orders you've already taken at a low position, just hold on and wait to see how to handle it when the rebound occurs.
Here, I want to emphasize the importance of position management: don't go all in right away; enter in batches and keep a distance, which will stabilize your mindset a lot.
This is also why it has always been said, 'Follow the plan, you won't lose big money, just earn a little slower.' Slow means steady, and being steady helps you survive longer.
Today's focus is on the closing price, especially at these two positions: 93,500 and 3,230. When the market is volatile, it's better to observe more and act less; don't rush to chase rising prices or sell low, just follow the plan. The market is always full of opportunities; what it lacks is patience and discipline. Stay calm, and we'll take it slow.
