The market has reached a rather interesting position now. Ethereum surged and then fell back yesterday; it couldn't hold 2730 and broke below 2600. Now everyone is focusing on the 2500 mark. However, based on my experience, it is unrealistic to break below 2000—short positions are too heavy, and the long-term adjustment is about done. The market makers aren't so kind as to hand out money to retail investors.
Today's pullback in altcoins, I mentioned this morning to take appropriate profits. Ethereum may pull back a few points, while altcoins can fluctuate by more than 10%; this is an old routine. Using profits for rolling operations will neither leave you empty-handed nor increase costs; this is the survival strategy of seasoned investors.
The current market sentiment is also quite interesting, with 90% of people still on the sidelines, and a minority shorting. If you ask me, the real test may come in early June—if the Federal Reserve continues to be stubborn and does not cut interest rates, and if there’s some trade friction, the market may have to stir for a while again. The biggest negative factor right now is the person in charge, who keeps changing his mind, but before that, those who need to position themselves must still do so.
In terms of specific operations, Ethereum can be accumulated in batches around 2500, and altcoins should be chosen based on their solid fundamentals. Remember to save some bullets; the market is always full of opportunities, but what it lacks is capital.
The market will not simply develop in the expected direction; the road to success is always winding. Once you take a wrong turn, you may lose your way and fall into difficulties. The market behaves similarly; trends exist, but they will never progress straightforwardly along a predetermined path. The fluctuations during this time can shake investors' hearts, and at this moment, it is essential to maintain a good mindset, not to be influenced by short-term trends, to hold on to one's original intention, and to maintain unwavering determination. The investment market requires composure and persistent determination; only then can profits be harvested in the gold market.
At this critical juncture, everyone must obey and follow through; it is better to earn less than to incur losses. There are indeed many opportunities to make money in the crypto space, but if you do not cherish the opportunities at hand, your funds will be wiped out in a short time.
Bitcoin: Looking at the weekly chart, although the price has fluctuated repeatedly in the past few months, the technical MACD has moved from a death cross to a golden cross, indicating that momentum is accumulating below. If you remember the wave of movement after '519' in 2021, the current situation is somewhat similar. Old investors understand that this technical pattern often means there is more to come. However, I tend to think that even if it really breaks new highs, I estimate it will top out at around 110,000 to 120,000 dollars. At that time, take profits as needed; don't be greedy and get trapped like last time after '519'.
Ethereum: I previously predicted that it would drop to around 2500 dollars this week, and it has almost reached that level. If the trend continues to be weak, it is possible to test lower around 2400, which is also a key support area, roughly between 2350 and 2400.
Other altcoins: BTC, ETH, SSV, and SUI have partially reduced positions; pay attention to DOGE, Zen, Pepe, and Tia.