Market sentiment is actually very interesting. When the market declines, no one thinks much of it. Altcoins are cut in half and then cut again. As long as there is any rebound during this process, everyone believes that the altcoin market is about to come, and the sentiment is extremely high. However, the result is repeated losses. Bitcoin is the same; it drops from 110,000 to 100,000, then to 90,000, and then to 80,000. The market doesn't think much of it either, but as long as there is any rebound in between, market sentiment starts to FOMO, believing that a Bitcoin bull market is coming.
This market is different from previous markets, divided into two main categories. One category consists of altcoins that account for over 99.9%, which are in a perpetual bear market. Any rebound during this process is a short point, a point to escape. The other category consists of large market cap coins led by Bitcoin, which are still following similar cyclical patterns as before, with alternating bull and bear markets.
Therefore, in terms of operational principles, under the rules of a bull market, only trade large market cap coins, but also respect volatility, because the liquidation of long positions during a bull market is no less than that in a bear market, and try to focus on spot trading.
Returning to the market, it was previously estimated that there would be a larger short-selling market, but currently, the assessment of short-term rebound volume is very limited, unable to effectively drive a larger upward explosive market. Currently, at 90,500~91,000, it has returned to the neckline. Any rise will be an opportunity to escape. Bitcoin still has about 20% downward space, target price: 72,600.
#Market analysis for reference only #Does not constitute investment advice
