March 5, 2024 Bitcoin market analysis

1. Yesterday I mentioned in the article that after US$63,000 stabilizes, you can buy 30% to 40% of the position. If the US stock market does not fall after the opening in the evening, all the bullets can be inserted. If it falls, it will enter the downward channel. We will gradually Just add more positions because the trend is still up.

From the market point of view, this operation is indeed correct. It has not fallen. Bitcoin has exceeded the previous high of 64,000 US dollars. Friends who have entered the position only need to wait quietly at this time.

2. Many people are still waiting for a correction, and some are bearish. All indicators of the bull market are basically malfunctioning, and now it is a unilateral upward trend. Don't be afraid, don't worry about a big negative line suddenly coming. Remember one sentence, after the bull market reaches its peak, it will only fall slowly, not plummet. There are two reasons for all plummets. One is the explosion of contract leverage, and the other is the washout that throws retail investors off the bus. If there is a sharp drop, don't worry, be brave and pick it up, it will definitely rise.

3. Bitcoin will break through the historical high and reach US$70,000 as soon as this week. There is no sign of decline in the market. If the market reaches the top, it will test the highest point multiple times. If it cannot break through, it will start to slowly decline again. If you have a position, don't get out of the car easily, don't easily predict the high point of this market, and don't go short.

4. If the altcoin in your hand does not rise, wait for a while. Bitcoin is currently in a blood-sucking market. After Bitcoin stabilizes, the sector will rotate. It will always be your turn. Don’t change positions easily at this stage. You may end up losing money instead of making money, which means the gain outweighs the loss.

5. The final operation suggestion is that friends who have not yet entered the market can actually boldly enter the market. Of course, I only recommend entering Bitcoin at this time. I do not recommend other copycats, because if Bitcoin suddenly pulls back at this time, the copycats will fluctuate. If it is larger, it may retrace more than 10 points. It is even possible that most altcoins will not be able to outperform the market in this round of market conditions, and will instead lose money instead of making money.

Therefore, if you have a short position, you can either buy Bitcoin, use a part of the position that you can afford to lose to buy popular altcoins, or wait for the end of this round of market conditions and plan for the next round. If you are still short now, it only means that your knowledge in the currency circle still has a lot of room for improvement.You can consider joining my membership community

Just wait if you have the stock in hand