I woke up early this morning to see institutions frantically reducing their positions to avoid liquidation. BTC was down from 78k to 75k in the blink of an eye, a drop of 3k, causing widespread panic in the market! The fear index has now soared to 13, pure extreme panic, and nobody dares to catch a falling knife. Everyone who entered at 78k is now trapped, exactly as I predicted yesterday, spot on! I estimate the bottom for this wave is around 71k. This damn market is unbelievable; anyone who long is trapped. Just give up and wait patiently!
On Saturday, I took a gamble on ETH at 2620, setting a stop-loss at 2592. The stop-loss was triggered, and the price immediately plummeted! This shows how crucial stop-loss orders are. With a stop-loss, you still have a chance to reopen the position; without one, you're guaranteed to be liquidated. If you have a lot of money, the liquidation might be delayed; if you have less, it's a quick liquidation—there's no other way. ETH dropped from 2700 to 2163, a 18% drop in just two days—a pure, precipitous flash crash!
The "insider" from the previous 1011 scandal has now completely fallen victim to this. Mr. Yi's organization, fearing another black swan event, was forced to reduce its holdings, pushing the margin call price down to 1840. Now, there's only a 16% margin of error left before reaching that price.
Nobody expected such a sharp drop at the end of January and beginning of February. The market hasn't shown any significant downward spikes yet, so just wait and see! Don't open any trades recklessly; haphazard trading in this volatility could easily wipe out your entire capital. ETH's price has now returned to the starting point of its June 2025 rally. If it breaks below 2120, we could see it drop to 1700; if it holds the 2120 support level, there's a high probability of a rebound to 2410.
The on-chain Penguin token has dropped fivefold from its peak, and today it seems to be bottoming out; you might consider adding to your position. Avoid Altcoin recently; even if they rebound, they'll just follow BTC, which isn't very interesting. Going forward, adopt a bear market strategy: buy spot when the bottom is reached, sell on the rebound, and then short mainstream coins.
Binance delisted six coins at once, making this market increasingly difficult! Especially coins like $nkn and $aca, which were ridiculously low from the open!! However, $nkn and $chess will likely see a double liquidation of both long and short positions in futures contracts!!
The market is constantly changing, and specific entry and exit points should be determined based on real-time conditions. Follow the trend after a breakout! No matter how confident you are, please strictly adhere to your stop-loss and take-profit strategies! That's all for today! Follow me so you don't get lost! QQ: 2178747366, QQ: 2499660658 ( Add me with a note, and I'll add you to our learning and discussion group).
