The current market is a mess!
The Sino-US trade crisis has not yet been resolved, and the US has been hit by bad debts in its banks. Two banks admitted to loan fraud, which directly triggered a crisis of trust - the regional bank index plummeted 7%, the three major stock indexes all fell back, and the market was completely panicked.
Risk aversion surged, sending both gold and silver soaring: gold prices broke through $4,300, a new high, and silver futures surged 4%. Meanwhile, the crypto was hardest hit, with MSTR down 4.3% and BMNR down 5%, while institutions heavily invested in ETH suffered losses exceeding $2 billion.
What's even more outrageous is that some DAT treasury projects are suspected of running away, and even the QMMM office is empty. These treasuries hold huge amounts of coins. Once they explode, the entire market will be shaken.
The theft of 120,000 BTC from the Lubian mining pool further dented confidence. Although the private key was compromised due to a random number bug, market panic persisted.
In fact, as long as you change to a new wallet and a truly random address, BTC security will remain invincible, and the US government will not sell coins - these negative factors are more of an emotional seasoning.
The market started to rebound and continued to repair the market
BTC: BTC continues to rebound, but is still suppressed by the downtrend line. This wave can be a short-term long position, with the upper resistance level at 108000. An effective breakthrough is the standard for the trend to resume, and now can be regarded as the end of this wave.
Ether: Ether rebounded quickly, with the upper resistance level at 3900. Be cautious when long and wait for the strength to break through 3900 before deciding whether to chase it in the short term.
Summary: The market continues to repair the market since the plunge. After clearing so much leverage, even if there is only a rebound, there will be a relatively smooth wave. The short-term direction is long orders. If the market helps to clear this wave, it will be easier to pull up the market.
Looking back, this wave of meme and alpha trading may have been a playbook for Binance to "build a bull market and then reap the profits." The decline in altcoins is now in line with the broader market, indicating that leverage has been largely liquidated. Binance Futures is still the dominant force in the market, with pure market manipulation of tokens like $xpin, $kgen, and $bas experiencing outrageous growth. Don't touch them; the market manipulation is in the open, and you're in the dark.
In the end, you will find that the only thing that can survive the cycle is still Bitcoin spot.
Next, I will show you my personal opinions on several potential coins. I will briefly talk about three points: rhythm, position, and risk.
#ETH : The daily chart hasn't confirmed a bottom yet, but the 4H chart is waiting for the daily chart to stabilize. Short-term wait-and-see approach, waiting for the daily chart to signal a bottom before entering the market is more reliable.
$SOL : This round of recovery is the strongest, with the initial target at 260. After opening, a push to 300 is not a dream. The return of on-chain popularity is the catalyst.
$DOGE : Strong inflow, with a 50%-70% rebound after each pullback. Opportunities exist for both short-term and long-term investment, so invest patiently and in batches.
$LINK : A data-driven infrastructure coin, DeFi is struggling without it. Around $15.8 is a good opportunity to buy low, with a conservative estimate of 50% upside potential.
#OKB : I think there is room to double in the long term. The short-term target is around 210. You can consider building positions in batches around 160.
Last sentence: Market declines are normal, and big market moves always emerge from panic. The above are my own rhythm and opinions. Remember to control your positions and enter and exit in batches.
The opportunity is gone in the blink of an eye, so hurry up! Don’t let hesitation delay the best time to make a fortune, and don’t be ripped off by the air coins. Follow Sister Miao and enjoy this bull market together! Communication + V: Mixm5688
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