Hello everyone
For the past two days, I haven't written about trading strategies partly because I've been busy with work, and partly because the past 48 hours have been a profit-taking phase with distorted information making it very difficult to give trading advice. Relying on technical analysis when the market is sideways is also very risky and unreliable. Currently, as BTC has dropped to the 105k range, many altcoins have also decreased significantly, and many people will bet on Long positions. This makes a lot of sense, but it should only be initiated by experienced traders, with small profit margins, low leverage, and only suitable for swing trading, as the current trend is not clearly defined, not to mention that in the coming hours there will be quite a bit of information affecting the market; just one bad news could cause the market to drop even deeper.
Advice: take a break and do not trade Futures during this phase, only open positions when there are clear signals. For Spot, you can gradually buy coins that have dropped to low levels over the past two weeks.
Prediction: there is a very high possibility that BTC will drop to the 100k range or even lower before forming a bottom and rising again; however, some altcoins will gradually diverge in trend and be less affected by BTC's decline (even going against it, especially altcoins that have dropped over 10% in the last 24 hours).
Wishing everyone successful trading and large profits