Fans asked me: "Recently, the market has been so volatile, can you give some advice? Should we be buying the dip or not?"
I smiled, as many people are actually struggling with this question. Tonight, Powell will give a speech, and the market sentiment has already started to stir. The latest inflation data, which exceeded expectations, has led many traders to lower their rate cut expectations, but most still firmly believe that a rate cut will happen next month. At critical moments in the market, there are always those who hesitate. However, in my view, as long as a rate cut hasn't truly materialized, the market remains optimistic.
If I were to buy the dip, my plan is very clear: enter in batches at 4080 and 3905.
Why choose these two levels? 4080 is the ETH CME gap level, and it coincides with the Fibonacci 0.50 retracement level; while 3905 is the golden support at Fibonacci 0.618. With such key levels, when better time is there to buy the dip?
