#ETH
《Market Correction — Is it an Opportunity or a Trap?》
Yesterday, I posted to inform everyone that Bitcoin is oscillating at a high position, unable to break through, and the probability of Ethereum catching up is low. Once it starts to correct, altcoins will also drop. Looking at the market, it aligns almost perfectly with our expectations. If profits are not taken, now there is only being stuck in losses or cutting losses. The market is currently correcting; is this an entry opportunity? I think it hasn't dropped to the right level yet.
The strong resistance at 110,000 for Bitcoin still exists; it has attempted to break through twice unsuccessfully and has begun to correct. Currently, it is hovering around this support near 107,800; this support is relatively weak, with strong support still around 105,000. If Bitcoin can hold steady at this position, it will signal an entry point.
The key support for Ethereum at 2,500 is quite weak. If it doesn't hold, it will start to decline. There is support around 2,480, and it may not hold at 2,400 either. A few days ago, the spike broke through the support at 2,380, and further down, it is expected to reach around 2,320.
At this critical moment, the opportunities for altcoins are rather bleak. Achieving a profit of 10 points during each market movement is already quite good, and we still need to wait for Bitcoin and Ethereum to create new market movements for the next entry opportunity. Keep a close eye on Taco; once the entry opportunity matures, we will lead everyone to enter again in search of opportunities. These past two days have been a small oscillating market, also a waste of time. I wish everyone a pleasant weekend in advance.