Yesterday, I mentioned that BTC might spike to around 85,500, encouraging everyone to place short orders, and as a result, almost everyone successfully entered and made some profit. My personal suggestion now is to take some profit near 83,500 and adjust the strategy for the remaining position according to the situation.
Currently, it seems that BTC's substantial pullback should start soon, so you can remain observant and be ready for the next opportunity.
From the daily chart, BTC has had upper shadows for the past few days, false positives and real negatives, with funds quietly exiting. Personally, I feel that this wave at 86,400 might be the peak, so I suggest reducing positions or going short during the rebound. MACD's bullish momentum is also weakening, and there should be a significant correction coming soon. So, don’t rush to go long for now. The upper pressure is at 85,500, and the lower support is around 81,500.
Looking at the 1-hour chart, there is a volume drop followed by a volume increase. I suggest opening a short around 85,000, with a stop loss at 86,000 and a take-profit target at 83,500. However, don't go long near 83,500; wait until 81,500 to consider entering.
From the trend of the Nasdaq, it should continue to decline. Therefore, BTC may fall below 76,000 again. If you have patience, you can start positioning during the downward movement and make a good plan for holding coins.
Both rises and falls are normal, don’t get tangled up; those who do will ultimately not make money.
Yesterday in the article (The Bitcoin reversal is getting closer, seize the opportunity! Will Ethereum rebound or continue to decline? CRV keeps falling? The 'god operation' caused trouble! WCT's carnival has fallen, ARDR is a wild dark horse! How should retail investors choose?) I mentioned CRV, and I shorted it last night, entering at 0.66 with a take-profit target of 0.625. Later, I made another move, although I got in a bit early, around 0.633, but I still ended up making a profit.
Currently, if there is a rebound to around 0.63, you can short again, setting the stop loss near the previous high. Overall, CRV should pull back to around 0.60, at which point you can consider taking profits.
Ethereum ETF staking issues, altcoin ETF applications
From the perspective of trading cryptocurrencies, if we want to see a decent bull market, we can only hope that Ethereum does not go to zero, and it would be best if it can rebound strongly.
The biggest challenge now is still the 'turnover issue.' Many early holders have been forced to cut losses and exit, completing a large-scale reshuffling of chips. This process may take some time.
Recently, two large holders I know have sold the Ethereum they bought in 2022 near the cost line. After waiting for two or three years, they now have to start from scratch. The pressure and helplessness in this process are really distressing.
What everyone is most worried about now is not that Ethereum will go to zero, but where the manipulators will take the market, fearing it will go deeper.
The possibility of going to zero is almost nonexistent; it is just a matter of the time and depth of the washout. After all, even though there are people selling Ethereum now, many institutions are actively buying.
For example, BlackRock's spot Ethereum ETF currently holds over 1 million ETH, with a market value exceeding $1.7 billion. Although it has shrunk by more than $2 billion compared to the peak in December last year, it still shows that institutions are optimistic about Ethereum's long-term value.
Currently, the companies applying for Ethereum ETF staking include Grayscale, Fidelity, and Franklin. As for the altcoin ETF applications, there are also a number of companies involved, but BlackRock has not joined yet. If they get involved, regardless of which coin they apply for, it is likely to bring about a surge.
However, there have been very few updates on these messages in the past two months; it seems that during the market downturn, everyone is 'silently maintaining' their positions. It is expected that in the next 5-7 months, the news will gradually increase, but the approval of these two businesses may be delayed and may not have clear progress until the second half of the year.
Overall, the potential news about Ethereum ETF staking and altcoin ETF applications are positive signals worth paying attention to.
Yesterday when BTC pulled back, SOL actually started to rebound. From the daily volume perspective, it is clear that there is capital supporting and bottom fishing.
My personal suggestion is not to short near 130, as there might be a spike. You can wait until around 140-144 to consider shorting.
If BTC continues to pull back, SOL may also drop, and when it falls below 112, we can boldly consider entering the spot market. There aren't many opportunities left to position now, everyone should seize the time.
Speaking of which, I personally think that Ethereum's biggest competitor this round is Solana. From the perspectives of timing, location, and people, Ethereum has always been slightly behind.
However, from a global perspective, Ethereum's application, recognition, and influence are still stronger and more globalized.
Solana wants to surpass Ethereum; relying solely on American capital and meme coins is not enough. It needs real application expansion, especially the popularization of decentralized finance (DeFi), which takes time.
In this wave of the bull market, Solana indeed has competitiveness. If the market declines, it is advisable not to bet only on one of Ethereum or Solana, but at least half and half. You can also add other mainstream altcoins, such as Litecoin (LTC), ATOM, Maker (MKR), S coins, NEO, ONDO, etc. The core principle is not to heavily bet on a single coin but to diversify the risk.
This has a precedent. I remember during the last bear market, how did those big holders who only bought Ethereum and not Bitcoin end up?
Time is unbeatable, Ray's launch platform is rising strongly!
The night before yesterday, I saw this news that Ray's launch platform has launched the first meme coin, and I decisively shared it with everyone. At that time, I bought 850,000, but by the time I finished editing, the price had risen to 1.3 million, and not long after it fell to 500,000. I added to my position, and in the end, it basically went to zero, and I didn’t really pay attention to it.
However, it was confirmed last night that Ray is indeed launching his own launch platform, officially competing with Pump. After all, with such a big piece of meat, who wouldn’t be envious?
Last night when I got 4 million, I took out the principal and left the profit untouched, planning to adjust the layout. P has been the only one with some results these days; the on-chain rhythm is too fast, it’s better to stabilize, don’t trade recklessly, and wait for the right moment to stay vigilant.
The latest battle report is out! Get ready for more exciting developments!
The long-awaited latest battle report has finally arrived, take a look quickly! Next, we will continue to work hard to make our contract operations more refined and precise. We are responsible for the funds of our community brothers, always maintaining the smallest risk and the largest profit. In the future, let’s walk further together and earn more!
