Beware! Bottom fishing requires caution, as the market turmoil has not settled
Dear investor friends, the current market situation is indeed turbulent, so everyone must stay vigilant and not rush to bottom fish! From the current market perspective, there are no signs of a stop in the decline. Even if it reaches a key support level, it will only halt the downtrend; do not expect an immediate rebound. Therefore, it is highly likely that there is still room for further decline in the market, and everyone must be cautious, waiting for signals of a deep dip before considering action. Moreover, there have been plenty of negative news recently, adding to the anxiety.
Firstly, let's talk about the tariff issue. Trump has made another statement intending to increase tariffs by 20% on all countries globally. Whether this news is just a bluff or a real implementation, it poses a huge shock to the market. It’s like a heavy bomb that could explode at any moment, leaving the market in chaos.
Next, regarding the non-farm payroll data released on April 4th, if the data is negative, then the market trend will look even worse, undoubtedly adding fuel to an already fragile market.
Now, let's discuss the situation with BTC and ETH. Although ETH has had frequent small spikes recently, those are merely minor disturbances and do not count at all. What truly indicates a problem is at least a daily level spike. Therefore, it is almost certain that ETH will drop to a new low, and it could very well drop significantly. In contrast, BTC is still somewhat resilient, with 79,000 and 76,000 being key support levels; if it unfortunately breaks below these, the next target may be 73,000.
In summary, the end of this month and the beginning of next month are bound to be turbulent for the market. Friends who are already “on the bus” must be cautious and prepare for risk prevention; those who are still “off the bus” and observing should hold steady and not act impulsively. Everyone must maintain a clear mind, closely monitor market dynamics, and patiently wait for the right opportunity.
It is not yet time to bottom fish; one can only short during rebounds and take short-term long positions when the decline stops, making profits through back-and-forth fluctuations!
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