6.5 Cryptocurrency Market Analysis, Why Altcoins Frequently Experience Crashes

The strategy of going long at low positions yesterday morning perfectly took profits. Currently, there is not much fluctuation during the day, and the market tends to move after the U.S. stock market opens in the evening. Often at this time, we can look for altcoin trends.

Yesterday, after the U.S. stock market opened, ETH rose from 2598 to 2670, and began to pull back in the latter half of the night. The current coin price is 2614. The daily structure of Bitcoin is showing a trend of consecutive declines under pressure, with insufficient bullish resistance.

ETH will mainly be in a consolidation phase this week, unable to rise above 2800 or drop below 2350. Trading within this range means going short above and going long below. Of course, we also need to pay attention to the impact of event factors; tonight there is an initial jobless claims report, and tomorrow night there will be the non-farm payrolls report, which will definitely cause significant market fluctuations.

Yesterday, the altcoin Dego crashed. Everyone should be cautious to avoid risks. Yesterday, PORT3 went live on Binance futures and has been soaring non-stop, experiencing violent fluctuations. The development speed of this project is truly rocket-like—from its stunning debut on Binance Alpha to rapidly entering the Binance perpetual futures market, PORT3 completed in less than a month what other projects take six months to achieve.

This "Binance speed" is rare in the industry, fully demonstrating the exchange's special favor and the project's strong capabilities.

However, everyone must be cautious when new coins are launched, and it is not advisable to blindly chase after rising prices. Always remember to set stop-loss orders when trading.

The upcoming news will be shared promptly in our small circle.