The difficulty level of the market has reached its peak here.

From mid to late April to June, this round of market conditions has increased in difficulty compared to November to mid-December last year, whether it’s the judgment of the starting point or in the process of $BTC continuously breaking through resistance levels, $ETH suddenly surging with a strong bullish line, while many altcoins have completely diverged during this process, repeatedly going through roller coasters and experiencing large fluctuations.

Currently, the market is once again contradictory, and both bullish and bearish perspectives make sense. BTC definitely cannot chase shorts here; if one buys the dip, it can only be a gamble on a false breakout to a new high or a secondary high. Without sufficient consolidation, there is no confidence to expect a new round of significant upward movement immediately.

Originally stronger $ETH has now deteriorated on the daily chart, and many altcoins have once again fallen back to weekly and monthly lows. From the perspective of altcoins, this should be a buy-the-dip opportunity, even if it’s for a medium-term rebound. But what if ETH quickly consolidates and then continues a strong market?

However, if BTC continues to fluctuate and ETH starts to correct downwards, then many altcoins may again face a situation like February where they directly break below weekly and monthly bottoms, continuing to drop by 30% to 50%.

On the other hand, for shorting, many coins are already in the bottom area here. Unless one waits for a confirmed break below the weekly support before chasing shorts, it’s hard to take action. The relatively strong altcoins are still at relatively high levels, wanting to follow ETH to be bullish, but many of these altcoins have already clearly broken below the bullish trend or have formed head-and-shoulders patterns on the daily and weekly charts. Rationally speaking, it would be better to go for medium to long-term shorts.

In summary, the current market is a chaotic and contradictory situation; you can either be bullish and go long or bearish and short.

I personally closed my long position bought on May 31 at a loss, and my short position opened on June 4 for hedging is still held because it was opened two days earlier at a better level, so I can hold it for a while.

As for the rest, I really can't understand it well, so I will remain in cash and observe for a couple of days.