Last night's market was another bloody storm! Bitcoin and Ethereum led the way in crashing down, with Bitcoin and Ethereum both dropping around 5%, while most altcoins fared even worse, generally dropping over 10%! Some weak coins dropped back to pre-liberation levels, completely erasing the gains from the previous days, and even re-entering a downtrend. And what about those strong coins? Although they also pulled back, they merely gave back some of the recent gains without serious damage.
This wave of decline has completely confused many people—should they run or stay?
Those who were chasing the rise a few days ago are now feeling anxious: is the bull market over? Should they cut losses now? Meanwhile, those who have always been bearish are even more convinced that the market can't rise anymore and expect a big drop next.
But is that really the case? The weekly trend tells you: the bull market is still on, so don't let short-term pullbacks scare you!
From a macro perspective, Ethereum has just broken through an important pressure level that has lasted for years, which means a new upward cycle has just begun! The weekly volume and candlestick patterns all show that the bulls are still strong, and there are no issues with the trend.
So why did it suddenly crash yesterday? The main players are playing psychological warfare!
The market is about to challenge historical highs, and retail investors generally feel that 'it can't rise anymore', fearing a pullback. So the main players simply launch a wave of selling to shake off those with weak resolve and to blow up those high-leverage short positions. This way, the subsequent rise will be much easier.
How will it go next? It depends on these key points!
If the decline starts to decrease in volume and there is no sustained crash, it indicates that this is just a washout, and the main players are clearing out floating positions.
If the key support level holds and a rebound signal appears quickly, it means the pullback is over and a new round of increases is about to start!
If altcoins continue to fall without rising, be careful; it indicates that market funds are concentrating on mainstream coins, and garbage coins may be eliminated.
The market will explode again, but choosing the wrong coin = wasted effort!
In the upcoming market, not all coins can rise! Some coins have already become completely weak; even if the market hits new highs, they may continue to decline. Strong coins, even with short-term pullbacks, will likely rebound first and may even break previous highs.
So, don't buy blindly!
You must keep a close eye on the market, choose the right coins, and get the timing right. Otherwise, even if the bull market comes, you may just watch others make money while you miss out or even lose money!
Final reminder: absolutely don't touch contracts!
Last night's market had contract players wailing again. With spikes up and down, both longs and shorts got wrecked, and even if you saw the right direction, you might still get blown up by sudden fluctuations.
Hold onto your spot positions; the bull market is here and you will still profit. Why gamble on something that has a 99% chance of going to zero?
The power of the trend far exceeds short-term fluctuations; don't let a single bearish candle scare you. Pullbacks in a bull market are often opportunities!