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Summary of the investment perspective for this year based on my technical analysis from the first half of the year.
Just like before, this year is a year of downtrend. $BTC and top coins will hit the bottom by the end of Q2 or the beginning of Q3 this year. Currently, it is a corrective wave on a weekly timeframe from the beginning of the year. Therefore, I will not buy and hold. At least there must be signs of a bottom being formed and the entire market stabilizing before I consider buying and holding.
However, it is not that there are no opportunities to buy and hold coins in the first half of this year. Although 99% of altcoin charts have broken their bottoms and the major patterns are completely invalidated. But I think capital will flow from downtrend coins to a few coins that will run in an uptrend.
Regarding new coins, I found $CHZ and $EDU . Both have broken the downtrend pattern and successfully returned to retest on the weekly and monthly frames. #CHZ shows signs of wanting to exit the downtrend on the weekly frame; we just need to wait for this week's candle close to fully confirm it. #EDU successfully retested the weekly and monthly frames, and the indicators on these frames look good. However, it is still running sideways at the bottom in a box. We need to close the weekly candle above the 23 area to confirm the end of the sideways bottom and enter an uptrend.
Regarding stock coins, in my opinion, the anonymous system will still lead this year. Because I use TradingView to look at larger timeframe charts like 3m, 6m, 12m, these coins have all been in a downtrend for 7-8 years and have been in a sideways bottom for 3-4 years now.
Specifically, #ZECUSDT has completed waves 1-2-3, currently running wave 4, still missing the wave 5 increase. #DASH seems about to break out of the downtrend, no signs of completing wave 1 for the 3m timeframe yet.
#zen 's monthly pattern still has not broken, seems like it has not yet run wave 1.
Conclusion: There are a few coins that may run in an uptrend, but the number is very small. The remaining 99% of altcoins will hit rock bottom this year, even including top coins.
Just like before, this year is a year of downtrend. $BTC and top coins will hit the bottom by the end of Q2 or the beginning of Q3 this year. Currently, it is a corrective wave on a weekly timeframe from the beginning of the year. Therefore, I will not buy and hold. At least there must be signs of a bottom being formed and the entire market stabilizing before I consider buying and holding.
However, it is not that there are no opportunities to buy and hold coins in the first half of this year. Although 99% of altcoin charts have broken their bottoms and the major patterns are completely invalidated. But I think capital will flow from downtrend coins to a few coins that will run in an uptrend.
Regarding new coins, I found $CHZ and $EDU . Both have broken the downtrend pattern and successfully returned to retest on the weekly and monthly frames. #CHZ shows signs of wanting to exit the downtrend on the weekly frame; we just need to wait for this week's candle close to fully confirm it. #EDU successfully retested the weekly and monthly frames, and the indicators on these frames look good. However, it is still running sideways at the bottom in a box. We need to close the weekly candle above the 23 area to confirm the end of the sideways bottom and enter an uptrend.
Regarding stock coins, in my opinion, the anonymous system will still lead this year. Because I use TradingView to look at larger timeframe charts like 3m, 6m, 12m, these coins have all been in a downtrend for 7-8 years and have been in a sideways bottom for 3-4 years now.
Specifically, #ZECUSDT has completed waves 1-2-3, currently running wave 4, still missing the wave 5 increase. #DASH seems about to break out of the downtrend, no signs of completing wave 1 for the 3m timeframe yet.
#zen 's monthly pattern still has not broken, seems like it has not yet run wave 1.
Conclusion: There are a few coins that may run in an uptrend, but the number is very small. The remaining 99% of altcoins will hit rock bottom this year, even including top coins.
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