#本周高光时刻 #交易故事
5.10 Weekend Morning Market Overview: $BTC Consolidating Altcoins for a Rally?
The Bitcoin just closed at a high position with a Doji at 8 AM, primarily consolidating over the weekend.
Bitcoin's market share has risen to 62.6%, Ethereum up 8.6%. Although some public chain tokens and altcoins are experiencing a rally, BTC's market share is still gradually increasing, perhaps we will experience a one-sided bull market for BTC similar to the end of last year.
After the surge two days ago, Bitcoin found support and resistance yesterday, and today it seems to be oscillating within the range of 102345-103746; since today is the weekend with insufficient liquidity and the US stock market is closed, I personally suggest staying in cash and observing for the next two days, while also watching Bitcoin solidify its resistance and support levels.
As of now, there are 204,357 liquidations across the network in the last 24 hours, with a liquidation amount of 642 million USD, long positions at 295 million and short positions at 347 million;
Current data shows that yesterday there was a net outflow of 337 Bitcoin from the spot ETF, which has little impact.
Today the fear index is 71, and greed is relatively acceptable; just this morning at 8 AM, various altcoins briefly spiked. If you had set a trap to reduce your position, congratulations, I also partially reduced my position in spot trading; the only one I did not reduce is BNB, because you know the saying about having one fish and four meals.
If you believe this wave of market is confirming a reversal, then continue holding; if you think it’s a dead cat bounce, reduce your position because everyone can only earn wealth within their understanding; reduce positions for the short term while continuing to hold long term until interest rates drop and the bull market peaks.
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