📍6.11 Day #BTC #ETH Market Analysis

Don't be afraid of the market decline; let Pao Pao recharge your faith!

It has been continuously declining, with Ethereum dropping 440 points and Bitcoin dropping nearly 8000 points.

Don't panic just yet! In this situation, your mindset and position management are even more important!

If you went long at the highs, don't panic!

From the data perspective, $ETH has been consolidating above 2700 for a long time. From the trading volume, it still indicates that the bulls remain strong. The big players are using news to create a decline, causing panic selling. This kind of 400-point plunge, in the context of a bull market, is considered the late stage of accumulation. It aims to lower the holding cost! Currently, the worst-case scenario has not occurred—rapidly breaking through all support and quickly rebounding.

The more the market washes out, the more excited I become! It further strengthens my idea of shorting in the short term and going long in the long term.

I have already entered long around the price of 2480. Near 2550-2580, I will choose to take some profits, but I am still incredibly looking forward to $ETH E soaring to the sky! E will amaze the world!!

Then we will see $BTC .

From 110,000, it retraced to 102,000, still following the previous viewpoint that the level of 101,000 has not been broken. I still hold a bullish view on Bitcoin.

For Bitcoin, I prefer to wait for the price of 104,800 to be tested before taking action. Alternatively, I will wait for the consolidation to take shape before choosing a direction.

On the trading floor, one action requires confirmation from another action!

If there is a rebound and trading volume increases, but the highs do not exceed previous highs, consider going short.