The recent cryptocurrency market has shown a familiar trend, reminiscent of the situation in March last year. When the market rises, many people hope to soar high, but if they miss the right opportunity to take profits, their previous efforts may go to waste.
Bitcoin has tested the $116 mark twice, but the rebound momentum is insufficient, and there is clear pressure at $118. This week, it may drop to the $113-$114 range. Ethereum's situation is similar; $3800 seems to have become a short-term high point, and if it falls below this level, the next support may be around $3500-$3600.
The market's volatility reminds us that investors should not be overly fearful of missing out (FOMO). What is even more concerning is blindly chasing highs during market rises, while failing to take profits in a timely manner during pullbacks. Bull markets can actually lead to losses for investors, primarily due to excessive greed.
In this market environment, it is essential to remain calm and establish a reasonable investment strategy. Do not be deceived by short-term market fluctuations; instead, focus on long-term market trends and the fundamentals of the projects. At the same time, set reasonable profit-taking and stop-loss points, and adjust positions promptly when a clear market reversal occurs, so as to achieve relatively stable returns in a volatile market.
It is worth noting that the NFT sector has been active recently, with Ethereum breaking the $3700 mark, while stablecoin regulation has also become a focal point for the market. These factors may impact short-term market trends, and investors need to closely monitor relevant developments and adjust their investment strategies in a timely manner.
It's better to enjoy together than to enjoy alone; you reach out, and I can pull you ashore!!
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