Bit Eagle 🦅 3.5 Accurate Market Analysis

Good morning, brothers. Yesterday, there was widespread panic during the day,

and after the U.S. stock market opened in the evening, there was a significant drop, causing extreme panic.

Many brothers couldn't sleep well.

Yesterday, I analyzed the reasons for the decline,

and also examined the subsequent trends and strategies.

Today, I want to emphasize again

The crypto summit on the 7th may bring the following news, which is positive for the crypto market to start rebounding:

(1) Introduction of a zero capital gains tax policy

(2) More information on strategic reserves

Additionally, considering the following situations:

(1) The current average mining cost of BTC is above $83,000, and miners are already at a loss.

(2) On-chain data shows that BTC has still been flowing out of exchanges these past two days.

(3) The Nasdaq index has declined for three consecutive weeks.

(4) Those who bought in the last three months are all losing money, and there are not many profit-taking positions left, which weakens the selling pressure.

Current on-chain data shows that

BTC reserves in exchanges have decreased to levels seen a month ago.

This is a good sign; there is no need to panic.

In investing, it is important to establish your own logical system,

combining others' analyses, such as Bit Eagle's analysis,

to form an independent judgment of the market.

Otherwise, you will fall into emotional trading, making trades based on feelings.

If trading based on feelings could make money,

then everyone in the world would be Buffett.

Yesterday and today are both risk periods;

do not panic sell at the bottom, be patient and hold for a rebound,

the long-term outlook remains bullish.