Don't Catch the Bottom
There will be another big drop in the market
BTC broke through 84300 yesterday, today it pulled back to around 83000, and tried to push to 84000 again, but it didn't go up, the momentum is very weak. So, if BTC fails to surge, it must pull back and then try to rise again. This time, the pullback will first look at the position around 81500, which is a support level. If this position rebounds, it will first break through 84000, and then try to push towards 86000. There is a high probability that the 86000 level will also not be reached. If this level cannot be surpassed, then there will be a significant drop next, and the price may even reach a new low.
Therefore, now is not the time to catch the bottom on altcoins, nor to go long on spot, and definitely not to hold for the long term, as the risks are too high. If BTC reaches a new low this time, then altcoins will inevitably also reach new lows, and by then, it will be very painful. Although there may be a chance to surge to 86000, it cannot be held for the long term, because after 86000, there will be another significant drop, with declines potentially reaching around 74000 or new lows. So everyone should not catch the bottom, should not hold long positions, and should not trade spot; wait for this big drop, and there will be significant market movements afterward. After all, the Federal Reserve is about to cut interest rates, which will definitely have a positive response.
There will be another big drop in the market
BTC broke through 84300 yesterday, today it pulled back to around 83000, and tried to push to 84000 again, but it didn't go up, the momentum is very weak. So, if BTC fails to surge, it must pull back and then try to rise again. This time, the pullback will first look at the position around 81500, which is a support level. If this position rebounds, it will first break through 84000, and then try to push towards 86000. There is a high probability that the 86000 level will also not be reached. If this level cannot be surpassed, then there will be a significant drop next, and the price may even reach a new low.
Therefore, now is not the time to catch the bottom on altcoins, nor to go long on spot, and definitely not to hold for the long term, as the risks are too high. If BTC reaches a new low this time, then altcoins will inevitably also reach new lows, and by then, it will be very painful. Although there may be a chance to surge to 86000, it cannot be held for the long term, because after 86000, there will be another significant drop, with declines potentially reaching around 74000 or new lows. So everyone should not catch the bottom, should not hold long positions, and should not trade spot; wait for this big drop, and there will be significant market movements afterward. After all, the Federal Reserve is about to cut interest rates, which will definitely have a positive response.
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BTC
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