The shadow of 519 has not dissipated, and Bitcoin's high position correction has triggered market vigilance.
Today is May 19, a date familiar to veteran players in the crypto world. On this day in 2021, the crypto market experienced a brutal crash — Bitcoin plummeted from about $44,000 to $29,000, Ethereum was halved, and altcoins collectively collapsed, triggering massive liquidations and panic.
Just yesterday (May 18), Bitcoin once broke through $107,000, just a step away from its all-time high. But perhaps due to the psychological shadow of '519', today BTC slightly corrected, and market sentiment has become cautious again. Past lessons remind us: we must respect high positions, and volatility is the norm.
Today's market can be described as full of twists and turns, with continuous reversals making many people worry whether the market has turned from bullish to bearish. In fact, this is more like the 'dog dealer' creating volatility on 5.19 to collect contracts; there is no need to panic. The key is still to stabilize positions; the trend is still bullish, and the second wave of rising will come sooner or later.
Another somewhat 'mystical' episode: Sun Ge appeared at Trump's dinner today. Not long ago, Trump just said, 'Big things are coming.' Now Sun Ge also made a statement — the meeting of these two makes people a bit nervous. There are also rumors that $TRUMP is being manipulated behind the scenes by Sun Ge; I wonder what kind of antics will come this time.
The 'false breakout' mentioned in the weekend article seems to have really arrived this time, with many bulls already buried. But this does not mean the market will directly turn bearish; another possibility is that Bitcoin returns to a consolidation range.
As long as the key support level of $100,000 is not effectively broken, the overall trend still has hope to maintain. If there are favorable stimuli later, there may also be some room for a slight rise.
From a short-term perspective, around $100,000 is currently the key consolidation area. Once lost, the market may enter a slow downward pace; the real adjustment low might appear in the traditional dull period from July to August. I hope the market can follow this expected rhythm, leaving a clearer entry opportunity for those prepared.
A project has become popular on the Base chain — Coding Dino
Currently, it has not yet landed on any mainstream exchanges, but its market cap has approached 50 million, with astonishing daily trading volume. The price has been continuously rising since its launch, with almost no significant corrections, becoming a 'dark horse' in many people's eyes.
Many people are puzzled, what exactly is this coin for?
To be honest, at present, Coding Dino does not have particularly clear technical implementation or ecological applications; it resembles a meme+thematic coin driven by community and sentiment. Its core logic can be summed up in one word — 'rise'. The continuous rise has attracted a large number of speculators to follow suit, creating a positive feedback FOMO effect. Coupled with the narrative of 'not yet listed on mainstream exchanges', it has led to widespread expectations of further speculation.
Currently, the most imaginative point about this coin is the 'listing expectations'. A market cap of 50 million is not considered high for a sentiment coin. If it successfully lists on major exchanges like Binance and OKX, it could indeed trigger a new round of explosion. However, because of this, its short-term rise relies more on capital games and market expectations rather than actual value support.
For ordinary investors, chasing high at this position is not wise. Rationally, waiting for a decent correction might be a more prudent choice.
If you are already in the market, taking some profit now is a strategy worth considering; if you are still observing, it is advisable to remain restrained and not be misled by a temporary surge, as first-market coins rise quickly, but they also fall hard.
Alright, let's return our focus to the secondary market!
OP
The current trend is not optimistic. From a weekly perspective, it is still in a consolidation range, with the overall trend leaning weak, and there is only about a 15% decline space left to the previous lows; the risk has not been fully released. There is still no clear weekly bullish trend, so it is not suitable to be overly optimistic in the short term.
SUI
It is already close to a key support area, and short-term bulls may try to exert force here. If the current support level cannot be maintained, the next step could focus on the 3.15 area below, which will be another potential entry opportunity. Overall, seeking low buy arrangements at these key positions may be more prudent, but it is still necessary to closely monitor changes in market sentiment and trading volume to determine whether the support is effective.
DOGE
The $1.90 area is a noteworthy daily support and resistance conversion point. If the price can subsequently retest this area and show a clear rebound signal, it may be an ideal entry position for going long.
The article ends here! If you are confused in the crypto world, consider joining me to strategize and harvest from the big players!