路遥 | LuYaoTrader

Whether it's moving averages, Fibonacci retracement percentages, or lines generated by other indicators, none can solely represent support and resistance.
Because the market is unaware of these lines and does not care how you draw them.
The market does not care about your thoughts, your system, how many indicators you have, and so on.

What truly acts as support and resistance is trading volume.
Because trading volume represents the amount of capital flowing in and out of the market, and the size of the volume reflects the confidence of the participants.

——— Wyckoff on Support and Resistance

This market, really it's a dilemma whether to buy or not to buy...
If you buy, you're afraid it will peak and you'll be left holding the bag. If you don't buy, you're worried about missing out on a continuing bullish trend...
So, how many people are in this state?

Current decisions
Either small position with wide stop loss
Or just completely lay flat and ignore the market～
Which one do you choose?

As for altcoins, most of them are not worth touching
A small portion with strong backers seem to be doing quite well...
But the ones worth buying are still less than 1%
Or, you might want to pay more attention to pepe/pendle/sui/tao/cvx/crv/pengu
Just a few to consider, for reference...

Here, let’s specifically mention the Fat Penguin project
The NFT market is nearly freezing, but it's actively raising funds and promoting its IP, making quite a splash; despite the NFT bear market, its price has reached an all-time high, and it has even issued tokens...
I can only say, the team is smart, and they have a strong backer behind them
So the altcoins they issue are worth paying attention to
They have money, resources, and a strong backer, and they know how to operate～
#btc