Now when you look at the altcoin market, you really have to look at it sideways, not even look at it straight. Many altcoins have already fallen below the weekly support line. If Bitcoin falls back to 90,000, it is not impossible for altcoins to fall by 50%.
The altcoin carnival season that everyone is looking forward to, now it seems that without the Fed's massive money release, it will not be able to return to the madness of 2021. You have to understand that the currency is still tight now, and it will slowly move towards easing.
But at this time, this president and that celebrity came
Speaking of meme coins, what's fun about those new things on the chain? Isn't the ready-made pepe attractive? If you like to play exciting zero-sum games, you must also know that the risk of zeroing out may be behind the excitement. The weekly level of pepe has fallen to the yellow box. 789 is temporarily stable. If it falls below again, you have to look at 685-591. I don't want to see this.
From the 4-hour Fibonacci, the 1:1 rising target of 1121 is a bit far, but it is not impossible to go up. How many people are looking forward to the turnaround of altcoins this year, but they are extremely disappointed. As the old saying goes, the greater the hope, the worse the fall.
If pepe can stand firm at 998 at this hourly level, it may be able to rush to 1040-1079. If it can't rush up, then continue to trade. For spot entry, keep an eye on the position of the yellow box, buy in batches, and manage your position well. The rise and fall of pepe is like riding a rocket, so don't worry.
🤔 If you do it again, would you buy Bitcoin or altcoins? No matter what you choose, you have to be calm. Since you are here, just stay. The road of investment is long and there are many variables, so we have to be patient.
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