7.15 Market Trend Analysis, Should We Forget the Dead Bull? 😭
Beware of the surging altcoins; some have seen significant recent gains, igniting hopes for 'tenfold coins'. But we must remain clear-headed: do not chase after altcoins that have surged violently—when BTC pulls back by 2%, these types of coins often drop by more than 5%; if there is a 3% pullback, the drop may exceed 10%.
Even for quality altcoins that haven't surged significantly, it's advisable to keep positions below 30%. A proper adjustment is necessary, as the market is likely to enter a period of consolidation after continuous upward movement.
It's recommended to take profits in a timely manner; we need to be alert to the possibility of BTC dipping to $119,000. If the CPI data significantly exceeds expectations at 8:30 PM, the pullback may further expand. At this time, frequently trading contracts is not a wise move; it’s more important to stay calm and observe.
Hold onto BTC and maintain patience during short-term fluctuations; do not easily attempt to swing trade BTC. A friend once bought in at $90,000 and sold at $80,000, missing out on a 50% gain to $120,000, which serves as a lesson. The Federal Reserve's Harker stated that 'there is no urgent need for interest rate cuts', indicating that a broad market rise in the crypto space is unlikely this year. BTC will steadily rise, while altcoins are easily harvested repeatedly by whales, making them hard to grasp.
