The market has returned to a period of consolidation and accumulation. Such markets are mostly boring and unproductive, with not many trading opportunities. This type of market is expected to continue for a while in the future, with consolidation for some time followed by a wave of movement before starting to fall back into consolidation, which is also the current trend of the market.
Bitcoin has been fluctuating around 90000. Our first entry point is around 88000. Before breaking out of this consolidation trend, we should reduce our operations and wait for the opportunity to average down, which is expected to be around 85000. This is the averaging down position.
Ethereum's movement is also fluctuating around our first entry point of 2980 with not much volatility. The next averaging down position is around 2780. Currently, the fluctuation range is between the 2900 mark and 3020, with slight oscillations.
Different periods and different markets require adaptive trading strategies. Being unique and going against the flow often results in being targeted. We are the weakest group in this market, and simply surviving in the gaps between major forces is already quite an achievement.
The current strategy is generally biased towards the medium to long term. On one hand, we are positioning ourselves with fan tokens; on the other hand, we are waiting for Bitcoin and Ethereum to establish trends to position ourselves with some potential coins. Besides that, we spend more time learning and socializing. I hope everyone does the same, doing something meaningful during this unproductive time. After all, we can only analyze the market, but we cannot control it.
#ETH trend analysis
