This wave of market trends is really confusing. Too many people didn't dare to get in at the beginning, and now that it has risen to this position, they are even less daring to chase it. As a result, they started to short, just waiting for a crash like on May 19.
But the market is not cooperating, it drops a bit and then pulls back, going back and forth, driving short sellers crazy—clearly seeing the right direction, yet unable to make money.
Bitcoin's current trend is very critical. If it cannot break through strongly in the next few weeks, it will probably continue to be half-dead in sideways movement for a month or so. But don't panic; this kind of consolidation is actually a good thing, equivalent to building momentum. After enduring it, there will be a big show ahead.
Ethereum has actually signaled this long ago. That previous big bullish candle was a clear indication, and those who bought the dip back then are surely smiling secretly now. It’s obvious that funds are flowing out of Bitcoin, and the opportunity for altcoins is coming.
Recently, the market rhythm is very clear—when Bitcoin drops, altcoins immediately bounce. Funds are slowly shifting, but the process is certainly not smooth. Most people are still hesitant, either waiting on the sidelines or playing with light positions. This mentality is just being used by the major players to wash out the market; they won’t stop until they’ve worn you down to the breaking point.
Those who bought the dip at the beginning of April should be quite comfortable now. Ethereum might still need to consolidate for a while, mainly to digest the previous trapped positions and to suppress retail investor confidence. If it really drops hard, there is strong support around 2100.
In summary, remember two points: Those who hold altcoins should just hold on and not move around; those who are in cash should not chase the highs, wait for a pullback before taking action. The market is now playing a psychological game; whoever can maintain their composure will win.
Are you stuck? When to buy the dip? Still the same words, feeling confused and helpless and don’t know what to do, leave a comment with your profile picture. I need fans, and you need references.
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