Current Views in the Cryptocurrency Market
A brief sharing
The consensus in the current stage of Bitcoin (BTC) market has completed the move from fifty thousand to one hundred twenty thousand dollars.
The weekly MACD shows divergence, indicating a selling pattern for the technical traders.
On the monthly trend, there may be a shadow rise, with continuous new highs on low volume or high-level adjustments. There are no good trading opportunities.
So some say it is a fish tail, while others say it is an institutional bull.
Thus, the overall market is already divided. A divergence in the major trend means there will not be good large opportunities or profit effects.
Traders and investors should prioritize stability and not losing money, with profit as a secondary focus.
Good hunters always wait patiently.
Waiting for Ethereum's independent market.
If Ethereum can stabilize at four thousand and push towards eight thousand to ten thousand in the future,
there will still be opportunities.
For now, we need to wait until the trend becomes a bit clearer.
Currently, opening positions should just be small test trades. It is uncertain where it will stabilize after a pullback, and we need to observe the subsequent market performance.
If the good direction stabilizes, then there is a higher probability of experiencing a long-awaited altcoin season.
If a deep pullback occurs,
altcoins may be delayed even further.
This is my personal interpretation of Ethereum at the moment.
Regardless of bullish, bearish, or corrective views,
I wish everyone has a clear mindset
and a trading plan.
Finally, I wish everyone a prosperous and successful August in advance.
