The entire cryptocurrency market is waiting for the results of Trump's cryptocurrency summit.
Unless something unexpected happens, there will be a wave of positive news released.
But this wave of good news may be a good opportunity to reduce leverage.
When the expectations of the entire market are aligned, the market often moves in the opposite direction.
If we say the market can just take off from here, I think the possibility is low.
This current oscillation range is expected to continue for a while. Only after the market has sufficiently exchanged chips at this position and consolidated can it rise, which would be the healthiest trend.
If this position soars, there will undoubtedly be a subsequent sharp decline.
The favorable outcomes of the summit will briefly stimulate the market, just like when Trump announced Bitcoin as a strategic reserve.
However, there is a high probability that the situation will turn from positive to negative after the benefits are fully realized. The current market remains very weak, and it does not have the conditions for a direct reversal.
Friends, be sure to seize this opportunity and hold enough cash positions.
Otherwise, if the market falls back below 80,000, you will again be unable to sleep.
However, I believe the bottom of the market is likely around 78,000, so at this position, everyone can slowly buy back the cash obtained at high levels.
The longer the market oscillates in this range, the greater our profits will be, and we can continuously lower our holding costs.
When the market rises, do not be greedy; when the market falls, do not panic.
Being able to achieve these things is not because of a good mentality among veteran traders, but because your position is healthy enough, with sufficient cash to deal with any risks.
2,
Today I saw some news that was both amusing and absurd.
Trump suddenly gained a group of sycophants. I really can't tell if they are deliberately mocking Trump or are genuine sycophants.
Some legislators have suggested changing the dollar's portrait to Trump, some have proposed making Trump's birthday a federal holiday, some have suggested awarding Trump the Nobel Peace Prize, and some have suggested engraving Trump's portrait on Mount Rushmore...
This world is essentially a game of power. As long as you have power in your hands, you can have everything and a group of sycophants.
Let's not mock; let's look back at ourselves, as our situation may be even more so.
Don't even mention the president; even a minor official has a group of people fawning over them.
Perhaps you, who are reading this article, have already been fawning over your boss at work today. Some do it for survival, some for power, and some for money...
Those who stay away from power struggles are the lucky ones.
This world, as others say, is just a huge chaotic stage, with no strategic planning, only petty theft and street brawls.
That's all.
This is certainly not a good thing for the long-term outlook of the United States. If Trump is addicted to the pleasure of power, it will definitely be detrimental to the long-term development of the U.S. However, one thing is certain: Trump's support for cryptocurrency is an absolute positive.
For us in the cryptocurrency world, this is good news, especially since the cryptocurrency conference in the early hours of the 8th may release more positive news.
We will wait and see.
If you currently feel helpless and confused in trading and want to learn more about cryptocurrency and cutting-edge information, follow me, and you won't get lost in this bull market!
