Now many people have lost money and exited the market. In this round, 95% of players have lost money, yet many still refuse to face the reality of this industry. Shanzhai projects have repeatedly drained retail investors' wallets and shattered their mentalities! Despite this, many are unwilling to awaken, still fantasizing about the stories of others who got rich off Shanzhai projects back in the day, and even still dreaming of striking it rich through dog coins and contracts. As a result, they all end up being the ones paying for that story!
Since last August, we have seen through the essence of this round of altcoins. This is why we have been shouting at the top of our lungs for everyone to clear their altcoin holdings and return to value investing! At that time, many people didn’t understand, finding all sorts of 'reasons' and 'excuses,' unwilling to take profits or cut losses and abandon their altcoins, ultimately leading to being boiled like frogs in warm water!
In fact, in this industry, it is never too late to awaken, but the fear is that one may never awaken! Currently, Bitcoin is still above 82,000, while all other altcoins have basically halved repeatedly. In our community, we basically advise everyone to be cautious, but most people remain unpersuaded, let alone the broader market! Therefore, there's nothing to be done; the cryptocurrency space is very bloody. Currently, if you want to make money in the cryptocurrency space, you must return to valuable coins like Bitcoin, Ethereum, and BNB. Otherwise, it would be better to exit the market and return to a normal working life!
Currently, the market has come down from the high of 109,000 for more than two months. Last month it dipped to the strong support level near 77,000. As for whether 77,000 will become the starting point for the next phase of the upward trend, it is hard to define. However, the recent bottom level of 72,000 should hold, as various indicators show that there will be a nice rebound in the 4/6 month range. But, due to the monthly candlestick closing poorly, coupled with the recent weekly candlestick also closing mediocre, the entire April trend is somewhat controversial. It is uncertain whether we will first continue to break below 77,000 to find the next strong support level to build a base, or if we will directly continue to build a base around 82,000/77,000 before rebounding towards 87,500/89,500. This will depend on real-time market tracking. Regardless, the operational strategy in April will be clearer than in March. If April passes smoothly as expected, the likelihood of a rebound in May will increase significantly, even reversing! Currently, the reversal condition must break above 94,000 and stabilize, similar to last year's position at 71,800! Last year, it ground from 49,000 to 52,000 to 56,000 for several months, and once it broke 71,800, it took off! Thus, the position of 94,000 is as important as the previous 71,800! If it breaks 94,000 and stabilizes, then it will reverse! Once reversed, this year's market will become very interesting, breaking past the previous patterns, and many analysts who like to stick to old ways will be confused again. This is why I have always suggested that everyone pay more attention to technical analysis!
Ethereum doesn't have much to say currently. Since the last alert to escape at 2800, it has basically been focused on swings. It is now around 1850; if you are still optimistic about Ethereum's future, 1850/1650 is a very good entry point. As for recent resistance levels of 1920/1950, 2080/2200, and 2400/2730 (critical reversal points), those who do not hold a positive view on Ethereum's future need not pay attention!
Since Binance Coin peaked at 720 in February, I haven't really paid attention to it, as its cost-effectiveness has diminished. However, in the past two months, BNB has become the most stable asset! This is thanks to CZ and the first sister; teamwork yields great benefits. Recently, they have frequently been publicly 'calling out' for the Binance ecosystem on social media. Otherwise, Binance Coin would have already fallen back below 480 with the general market! One can only say that CZ and the first sister revealed their hand too late; if they had exerted this effort back in November/December last year and January this year, Binance Coin would have easily broken through to the 900/1200 range from 780. What a pity! Currently, BNB still lacks cost-effectiveness, and I'm just afraid that one day when the hype is over, it will drop back to 480 again!
I can't comment much on other altcoins; I won't evaluate them. In the end, I'll leave you all with a parting thought: The path to awakening in the crypto world is painful, but if you don't awaken yourself, the results will make you even more miserable!
Alright, that's all for today. The above is purely casual talk and personal opinions and does not constitute any investment advice. If you don't like it, please refrain from negative comments!
