The big one is coming! The market has completely entered a frenzy!
In just a few days, the sentiment in the entire cryptocurrency market has surged from freezing point to boiling point. With a violent 30% rally of $ETH , do you really think it's retail investors blindly buying in? Open your eyes and see clearly, it's those short-sellers on Wall Street who are the real puppeteers! Institutions that started laying short positions at $3000 are now collectively facing liquidation due to the market pressure, and these liquidations have turned into rocket fuel!
In fact, hundreds of billions of dollars are betting on a sharp drop in Ethereum. It was initially thought that a short squeeze would happen in April, but it has been delayed until May. From a technical perspective, the area around 2425 for Ethereum is an important resistance level, corresponding to a key point on the Fibonacci retracement. The bears are definitely going to struggle to hold on at this position; entering now is like licking blood from a blade.
For those altcoins that are skyrocketing, it's advisable to take profits first and wait for the market to catch its breath before seeking opportunities. However, don’t be too pessimistic; the altcoin season won't end in a day. But right now, this sudden surge has pushed the risk to the limit, and the risk-reward ratio is becoming increasingly unattractive. If I were to operate, I would definitely wait for the price to pull back and confirm support before taking action. For example, if this PEPE token can pull back and stabilize around 0.105, it might be able to make another push.
The current strategy is to let profits stay in the market to continue rolling, while withdrawing all the principal. This way, even if the market reverses, the losses will only be the money that the market gave away for free. After all, in the crypto world, the bold thrive, while the timid starve.
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