The strength of BTC exceeded expectations; originally, it was expected to at least go down for a 30-minute segment first but refused to correct. The upward departure of the second central axis in 30 minutes has extended up to 98988, just a step away from the 100,000 mark!
From the perspective of the 30-minute trend of Bitcoin, a downward correction is bound to come after a certain period, and attention needs to be paid to the strength of this downward correction. Currently, chasing high is clearly not appropriate in terms of risk-reward ratio. The portion of the position that was previously reduced must at least wait for a 30-minute downward segment to appear and observe the strength before deciding whether to make up for it. If a red trend appears, it indicates that the bullish strength is still strong, and there is hope to challenge the 100,000 mark!
As the Bitcoin trend continues to extend upward, the king of altcoins, ETH, also began to exert force last night. Around 8 PM last night, a wave of volume-driven rise occurred, and other altcoins also experienced a rebound. Ether has been suppressed for too long, and from a broader perspective, Ether will eventually return to its original status.
Looking directly at the 4-hour chart, what is currently in operation is an upward departure from the central axis. After a period of consolidation, it is highly likely to break through 3442 to complete this segment. After the end of the upward segment on the 4-hour chart, there is a high probability of another large-scale entry opportunity: a third buy on the 4-hour chart, and then go for a historic new high.
From multiple transitions between bull and bear markets, each time touching the bottom and guessing the top is equally difficult. One thing is certain: no one can buy at the lowest point, nor can anyone sell at the highest point. Of course, the bull market has only reached the middle stage now, and there is still a long way to go before the climax ends. A common occurrence in bull markets is selling too early, so maintaining a good mindset is very important to avoid chasing highs and cutting losses.
Whether to hold a full position waiting for a large-scale selling signal or to maintain a certain proportion of the position for short trades completely depends on individual skills and mindset. In a bear market, most participants can completely lay flat and give up, but the opposite is true in a bull market. A bull market will stimulate endless desires and greed, causing individuals to forget risks and completely disregard them. Ultimately, a large wave of retail investors will be left hanging at the mountain top!
