#BTC Overall, let's clarify one point: the downside potential for Bitcoin is limited, at most a pullback of 10,000 points from its historical peak. Altcoins are just oscillating at the bottom; just hold on and increase positions when there's a drop to lower the average price and prepare for building positions when there's a decline.
Bitcoin continues the oscillating trend that emerged when the monthly line appeared. Today, it surged (but still within the descending channel), then fell. In three days, it may reach 103,700 and then dip around 103,100. If the downward trend continues, we are still looking at 101,400-10700. $BTC
Ethereum's weekly performance is quite strong, closing near 2,500 for four consecutive weeks. This week, it did not break below 2,475, directly surging. 2,475 will still be a strong resistance level for a decline. Last week did not stabilize, so this week I hope Bitcoin can drop to 103,000 for Ethereum to continue down to around 2,325-2,270. Additionally, there is a possibility of surging up to 2,800-2,820 this month (it's monthly).
Overall, those who were caught on the short side last week now have hope for a release. $ETH
Furthermore, for altcoins, aside from shorting during rises, it's best not to chase shorts. Altcoins are at the bottom; chasing shorts from the bottom has low cost-effectiveness. Even if you get caught in a long position, there will still be hope for a release later. When chasing shorts, do not increase positions; shorts should only be small positions and should not be heavily weighted.
The market looks bearish but is rising; the upward momentum is strong, and it can quickly rebound after a drop. The downward trend is not stable, making it very suitable to go long during dips, but not advisable to chase shorts.