比特财经阿杰
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Market Alert: A Correction is Coming, Don't Chase Highs!
Take profits in batches while you can!!
Dear cryptocurrency friends, today let's talk about the current market trends. Although the overall market trend is upward, now is not the right time to blindly chase highs. The upward momentum has met significant resistance, and the demand for a correction is becoming stronger. Additionally, the market may experience a sharp decline soon.
Let's first look at the situation with BTC. Yesterday, BTC strongly broke through $84,300, but today it has corrected to around $83,000, and then attempted to hit $84,678, but unfortunately failed, showing that the upward momentum is clearly insufficient. This indicates that BTC's rally has temporarily failed, and a correction is inevitable to adjust the indicators and prepare for future increases.
Preliminary judgment suggests that this correction may first reach around $81,500. This level is a key support point, and if effective support is found here and a rebound occurs, BTC could once again break through $84,000 and attempt to reach $86,000. However, it should be noted that the $86,000 level is likely very difficult to break. If it cannot break through, a significant decline is likely to follow, and prices may even hit new lows.
In this market situation, everyone must operate cautiously. Now is not the time to bottom-fish for altcoins, nor to perform spot long operations, and definitely not to invest with a long-term holding mentality, as the risks are simply too high. If BTC really makes new lows, altcoins are likely to follow suit and also hit new lows, and at that time everyone could really be trapped. Although there may be a chance to attempt hitting $86,000 during the correction, everyone must not be misled by this brief rise, as after $86,000, a significant drop is also likely, with declines possibly reaching around $74,000 or even lower.
Therefore, the best strategy now is to remain watchful and patiently await this significant decline. As we all know, the Federal Reserve's interest rate cuts are imminent, and this positive news will eventually have a positive impact on the market. After the big drop, the market may very well see a significant rally, and it won't be too late to enter then.
Take profits in batches while you can!!
Dear cryptocurrency friends, today let's talk about the current market trends. Although the overall market trend is upward, now is not the right time to blindly chase highs. The upward momentum has met significant resistance, and the demand for a correction is becoming stronger. Additionally, the market may experience a sharp decline soon.
Let's first look at the situation with BTC. Yesterday, BTC strongly broke through $84,300, but today it has corrected to around $83,000, and then attempted to hit $84,678, but unfortunately failed, showing that the upward momentum is clearly insufficient. This indicates that BTC's rally has temporarily failed, and a correction is inevitable to adjust the indicators and prepare for future increases.
Preliminary judgment suggests that this correction may first reach around $81,500. This level is a key support point, and if effective support is found here and a rebound occurs, BTC could once again break through $84,000 and attempt to reach $86,000. However, it should be noted that the $86,000 level is likely very difficult to break. If it cannot break through, a significant decline is likely to follow, and prices may even hit new lows.
In this market situation, everyone must operate cautiously. Now is not the time to bottom-fish for altcoins, nor to perform spot long operations, and definitely not to invest with a long-term holding mentality, as the risks are simply too high. If BTC really makes new lows, altcoins are likely to follow suit and also hit new lows, and at that time everyone could really be trapped. Although there may be a chance to attempt hitting $86,000 during the correction, everyone must not be misled by this brief rise, as after $86,000, a significant drop is also likely, with declines possibly reaching around $74,000 or even lower.
Therefore, the best strategy now is to remain watchful and patiently await this significant decline. As we all know, the Federal Reserve's interest rate cuts are imminent, and this positive news will eventually have a positive impact on the market. After the big drop, the market may very well see a significant rally, and it won't be too late to enter then.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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