#ETH
《Market Rebound - Will It Drop Again?》
The downtrend has come to a pause from a technical perspective as of yesterday, and the entire market is exuding vitality. At 10 PM last night, on one hand, the Federal Reserve increased the probability of a rate cut in July, which is positive news; on the other hand, the situation in Qatar is tense, which is negative news.
From the market perspective, Bitcoin and Ethereum both showed volatility with sharp ups and downs, ultimately the bulls have taken control of the upper hand. There are now signs of stabilization in the market. Whether the altcoin season will begin is something that everyone in the community is looking forward to. Since mid-December last year, it has only been a bull market for Bitcoin, while the overall altcoins have seen several times the decline, leading many to believe there won't be an altcoin season.
In my view, there will definitely be opportunities for altcoins in the second half of the year. What needs to be done now is to change the previous mindset of holding onto positions, continuously achieving wealth growth through trading waves, and putting more control in one's own hands. This is the way to adapt to the current market conditions.
Currently, Bitcoin faces resistance around 105,000 after the rebound. If it can stabilize above 103,000, this would be support. Whether Bitcoin can return to the previous high of 105,000 is particularly crucial.
Ethereum's recent large fluctuations can only be described as a situation where some are happy and some are worried; the worried ones are certainly in the majority. A sharp drop has pulled back to the resistance at 2,380, starting to decline again. If it can consolidate and regain strength above 2,300, it would mark the beginning of market stabilization.
During this period, altcoins really do not have opportunities. The current price after the rebound is still below our previous reduction price. For spot trading, there is only one direction: in such a market where there are more drops than rises, watching more and acting less may not be a bad strategy. We still maintain half a position, waiting for market stabilization. When opportunities arise, we will update the timing and points for replanning altcoin positions, continuing to pay attention to TACO.