It's time to recharge our faith. Trump confirmed that upon taking office he will announce at least one positive policy regarding cryptocurrency. After this news broke last night, the market quickly rebounded. Regarding altcoins, it mainly depends on ETH's performance; if ETH doesn't warm up, altcoins will struggle to rise. ETH's upgrade is temporarily scheduled for announcement in March.
With the end of the month approaching and only 6 days until Trump takes office, the market needs to warm up and rise to boost sentiment, which will help ETH, and only then will altcoins gradually follow. However, we can't rule out the possibility of altcoins moving independently in the meantime, so everyone needs to be patient.
Overall, last night's decline may have been related to Wednesday's CPI. As mentioned over the weekend, if sentiment is poor, there will still be risk-averse trading next week. The CPI might not look good, but similar to last week's non-farm payrolls, risk-averse positions have already escaped. Even if the data is bad, it won't be disastrous; right-side trading requires patience. Since the bio, we have been waiting for the right side and learning to stay in cash to preserve our bullets.
To put it frankly, ETH has held its ground, and now it just needs to consolidate a bit before taking off.
Wait for Hongjie to find a suitable position to enter long and bottom out.
If you don't know how to layout, get in quickly!!!
Keep an eye on: sonic act swarms pnut doge
