After a sharp rise in the market, will there be a 'painting door' market?

Every time Bitcoin surges rapidly, market sentiment easily leads to FOMO, and many people impulsively chase the highs out of greed, resulting in buying at the top.

Since the entry of Wall Street funds, Bitcoin tends to consolidate or form a 'painting door' after sharp rises.

Therefore, whether you are bullish or bearish, it is best to observe for a few days first to see how significant the selling pressure is and how strong the buying support is.

From the weekly chart, this wave seems more like a rebound after an oversold condition; it is more suitable for short-term trading now, so don’t rush to go all in. Over the weekend, Bitcoin may continue to fluctuate at high levels, while Ethereum may have an independent market.

If Ethereum continues to rise, altcoins will also follow with a surge.

However, altcoin rebounds are impulsive and purely speculative. Everyone knows that altcoins have little value; when the sentiment fades, they will return to where they came from.

You can sell in batches when the market sentiment collectively FOMO and when everyone is optimistic, securing profits.