This wave of altcoins is pouring down fiercely, yet its operational trajectory has not deviated from the framework of the chess game we previously outlined; only the intensity of the killings exceeds some expectations. Let us clear the dust and examine it from a deeper perspective:
1. Retrospective: The market landscape before May - A bear market hunting ground
At that time, the market was deeply trapped in a quagmire of 'plunge - breathless rebound - further decline.' Bears held the reins, and under the fierce offensive, many positions fell one after another. How many holders exhausted their strength amid the continuous decline, ultimately cutting their losses with regret; there were also those who chased the waves, seeing a faint glimmer of rebound but rushing in like moths to a flame, only to be trapped in a cold prison at the mountain peak.
By the end of May, the market suddenly surged, combined with external blessings, and the market sentiment ignited like a drought meeting rain. In an instant, the voice of 'the bull market has restarted' echoed through the skies, and the crowd was excited, many increasing positions and locking in holdings, vowing to share life and death with the floating profits. However, after the fierce fire cooked the oil, what awaited was an ice waterfall - a textbook 'raise to lure more, inviting you into the trap.'
2. Prospective: Bullish defensive line and hidden turning point
The real psychological defense line of the bulls may need BTC to effectively break through the major threshold of 100,000. However, this level is significant, and the main force will not easily give it up. If there is a swift penetration, it may instead breed opportunities - this is a sign of a strong washout, and the subsequent counterattack may exceed expectations.
Conversely, if the market exchanges time for space, stumbling to around 109,500, then it is not the sounding of the charge, but rather the time to sound the retreat. This is not a good time to chase high prices, but rather a strategic withdrawal point.
A more anticipated scenario is: deeply squatting to the 97,000 line, oscillating to wash out floating positions, and then breaking out with volume. This 'squat deep, leap high' state is the effective accumulation of energy and the superior path to break through the strong resistance of 109,500.
Currently, ETH is rebounding, approaching the previous key platform. It is not easy to break through this level, and those engaging in close combat should choose the right time to reduce weight and avoid its sharp edges.
Long-term investors can remain calm. Even if there is an extreme pullback to the 2,200 abyss, it is merely 'extreme tempering' in the bull market process and is not enough to shake the foundation. Moreover, the current adjustment has reached halfway, the rhythm has not been disrupted, and the opportunity for stabilization and strengthening may already be on the horizon.
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