In the early hours of Monday, a major market explosion occurred, with 3.5 billion CNY in withdrawals. 123,962 people went bankrupt and lost everything!
After waking up, we heard terrifying sounds. Therefore, we must always respect the market; major swings can occur at any time. If we always chase trading opportunities, we must be prepared for the pain of price fluctuations. This is why many people can earn multiple times their profits, but once hit by the price, they can go bankrupt and lose everything!
Our orders were placed on the weekend. We stayed calm and waited until the end of the week. Two cakes failed to reach the first low buy point. The big cake was $30 short of reaching the third low buy point. We entered at the first low buy point at 113650 and the second at 111950. The average price was 112800. The highest rebound was at midnight at 113646, enough space for the first profit target of 800. We didn't exit at midnight. Now, should we exit to preserve our capital? Having hit two low buy points, it's best to exit first, observe the market and wait for stability, hoping for the next opportunity!
BTC Caution
Support Levels 110450/109500
Temporary pressure established at 116411
Friday, following the two coins' renewed gains, surged, then returned to 114510 on Saturday and rebounded. A major surge occurred early Monday morning. This massive surge has robbed much liquidity. The primary cause of the loss is chasing high prices and abandoning risk management. Therefore, the ability to withstand pressure is very poor. Without resilience, when risk arises, there is only one outcome: liquidation!
ETH Caution
Support Levels 4107/3892
Temporary pressure at 5000
A record high has been reached, but 5000 is like a huge mountain. Pay attention to the pressure situation at the key level of 4729 within the day. See if support at 4492/4615 can be verified upon retesting!
In practice: Contract opportunities will be dominated by BTC/ETH/SOL/DOGE. If there's a rebound in smaller altcoins, exit immediately without hesitation. Future funds will only flow towards regulation and investment in mainstream institutional targets. A crazy situation with a flood of altcoins is probably hard to come by in a hundred years!
Waves can still be waves, but this year's pattern is simply not something you dare to think about!
