Let's talk about the current market conditions, everyone!

Let's discuss it together because everyone knows I am not very aggressive in trading and I don't dare to take big risks. I know that once I post something, it's not just me; many fans and family members behind me will trade alongside me and choose to trust me unconditionally. So I feel a lot of pressure and rarely call trades casually. I also want to win, but my capabilities do not allow it. After all, I'm not a master of endless profits, so I have been consistently urging everyone to set stop losses, avoid holding positions, and arrange their positions reasonably. Only by doing this can we protect our capital and profit in the long run!

Returning to the topic, there is still a strong sense of pressure in the current market. I don't recommend chasing long positions or shorting. I can only say to shift our focus to altcoins that are not showing obvious recovery and are relatively weak; there is still potential there. Ethereum's daily chart shows a surge but stagnation; we shouldn't try to guess the top as there are not many good references on the left side anymore, unless there are signals on the right side indicating a rebound after a drop that does not break the previous high. Only then should we consider entering short positions. The same goes for Bitcoin, which has dropped for several days; if it pulls up and stays above 120,000, then we only have a reference point at 123,300. We need to pay attention to the closing candles. If Bitcoin does not break the previous high and the closing volume shrinks and retraces, then this high point might be reached only here. This needs time to verify. Of course, if it breaks through, then 130,000 is also possible, so the first thing we need to observe is the closing situation. Currently, we can only wait and see; I do not recommend chasing long positions. Don't forget last year's Bitcoin intraday drop of ten thousand points. This round of SOL's recovery has been rather poor; this is already the second time it has shown slow recovery. If it doesn't recover again, it may retest around 165 to form a double bottom for a second test. The recent increase is not very ideal, basically just a few points bouncing back and forth during the day. The MACD indicator shows a reduction in trading volume, but we cannot short it because the bulls have not yet expanded. The MA lines are aligned, and the bulls are strong. Now going long faces the challenge of limited profits, while going short faces the risk of slow recovery leading to stop-loss exits!

Having said so much, everyone can discuss it. I believe that the current market trend does not provide a basis for trading. Shifting focus to altcoins while the main market retraces could lead to a disastrous situation for altcoins, facing the risk of not recovering and continuing to drop! $BTC $ETH $SOL