Today is Monday, May 13, 2024. The weekly line has closed, and most of the cottages are still lying at a low level. Is it a bottoming rebound or a long-term decline? With the current market trading volume shrinking quarterly, I believe that the node of the change is getting closer and closer. I personally expect that there will be a trend this week. No matter how the market changes, the general direction is definitely upward. There are only two possibilities: a big rebound after falling out of a pit, or a direct rebound! The market does not say that it will continue to rise without falling or continue to fall without rising. The continuous decline and negative decline have relatively suppressed the cottage shorts to the limit. According to the spring effect, the tighter the pressure, the greater the rebound!
The more important data this week is the US CPI on Wednesday. Historically, this data has had a relatively large impact on the market. Therefore, I personally believe that the turning point will most likely come around Wednesday. Before that, all rises or falls may be random fluctuations with the purpose of throwing off some unsteady chips and allowing short-term players to continue to wear out their positions.
The market without regular order is what we often call the monkey market. It is difficult to make money in this market. When you think it will fall, or it has fallen below the key support, and you think it will continue to fall, it will rebound violently. You think it will rise sharply, but you don't know where the power comes from, and it will directly reverse and fall sharply. Especially when it is not active for a long time, any slight disturbance may affect the trend of the market. The more we have to restrain ourselves, don't chase the rise and fall, hold our own chips, and wait for the dog dealer to collect enough chips before starting to pull up the market!
After two rounds of consecutive declines on the 13th and 14th of last month, most of the current varieties have actually reached the historical lows. Ethereum is still relatively strong compared to most currencies. It is also near the downward trend line. You can pay attention to its breakthrough. Breaking through does not mean that it will definitely rise, but it may end the short-term decline from the high of 3,200 US dollars on May 6. The final determining factor for that position still depends on the CPI data on Wednesday.
Another thing to note is that both STRK and ARB will be unlocked this week, and there may be some potential selling pressure, so when you deploy these two coins, you can adopt a batch deployment approach.
The current trend of the BTC is still undecided, and we have to change according to the evolution of the plot. I personally think that the best operation strategy is to be prepared for both situations. If the current position continues to fall sharply, it will definitely be an excellent opportunity to buy the dips, and it will most likely become a gold pit. Then we can still keep some bullets to buy the dips at the bottom. Secondly, we should follow the steps and strictly implement our own operation strategies. No matter which strategy, we need to focus on is to protect our principal. Only in this way can we find more opportunities!
The hard days will not last too long. There are still some things that can be hyped at the moment, such as the consensus conference at the end of the month and the hype of Ethereum ETF. The most important point is that we are currently in a bull market, and there is no need to question this period. Therefore, when the market panics, you must buy boldly, because during the bull market, you can't afford such panic. There are not many opportunities to pick up chips at low prices, so you must be extra careful about every opportunity given by the market! Hold on to the chips, the darkest moment is often when the bottom is about to appear, so hold on for a while!
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