Recently, the market has been weak because its market share is gradually declining.

As a result, we can see others, such as the second-tier cryptocurrencies, frantically seizing market share, causing the primary one to slump while other currencies soar.

This is a positive cycle for the cryptocurrency space; more wealth effects will attract more people.

Additionally, the short-term decline in the gold market has led many funds to flow into better indicators, resulting in a temporary boom in the cryptocurrency space. Even the second-tier crypto, which has a bearish reputation, made it to trending topics due to a sudden surge in one day.

Recently busy with short-term trading, so let’s talk about short-term strategies. A triangular convergence zone has appeared on the hourly chart, suggesting that the short-term rise may be stagnating, with prices likely fluctuating between 105,000 and 101,000.

As we mentioned yesterday, when the price reached 104,888, it quickly fell, and today’s continuous decline during the day requires caution when shorting.

The sharp drop in the morning is not good news; there is a need for a rebound and correction in the short term. I believe the price peaks will continue to lower, reaching around 1,045. Therefore, after reducing my position, I plan to add back around 1,045, continuing to look downward while keeping a low long position near 1,011.

During periods of fluctuation, it’s important to eat and drink well, and be prepared for repeated frictions when seeking breakthroughs. Currently, I am a bull insulating body; I have tried several times to place long orders but haven’t succeeded. I hope to succeed this time.