Waking up today and seeing the market compared to yesterday is like night and day; the brief bull market has ended. Yesterday's high spirits advised everyone not to chase the rise, making it a time to exit. Looking back now, our judgment on the overall trend remains intact.
Yesterday, when Ethereum was above 3400, we mentioned the trend of oscillation and correction, with support around 3370. During the correction, the bottom has slipped somewhat, and it is currently hovering around this position. Due to the weekend, the fluctuations are not significant, and whether Ethereum can reclaim the support above 3370 is particularly crucial, with further support around 3260.
Bitcoin's trend is also as we expected; after failing to break the resistance at 105000, it began to dive. Currently, there is support at the 100,000 mark, and although there is some rebound momentum, the strength is quite weak.
Resist the urge to bottom-fish; for now, we only bought a small position of TAO near 390, waiting for the market to stabilize before adding more. Today, barring any surprises, is a waste of time, and there won’t be significant fluctuations. Be patient and wait for an entry opportunity.
