Is the adjustment over? When will the market warm up? -- BTC Market Analysis on April 6th (by Kunpeng)

CN
1 year ago

The recent market situation can be described as heart-wrenching, with Bitcoin still oscillating at high levels and Ethereum's weakness casting a pall over the entire market. There has been a divergence in the market. Regarding the trend, the trend classification has been analyzed in recent days. Currently, there are conditions for a positive turn in the structure of Bitcoin's trend (indicating a possible end to the decline), but it has not been confirmed yet. After a steady pullback to 70,000, it may be considered to increase positions. Ethereum needs to make a strong reversal before the market may warm up. However, from a daily perspective, it is suggested to buy more as Ethereum approaches 3000. As for small coins, some have shown counter-trend resilience today. BEL and HIGH, which were positioned in the internal group last month, have shown very strong performance in recent days. BEL has already achieved a 3x return last night, and HIGH is also approaching the first target of 4.2 in the near future. Students holding these two coins can continue with the mid-term plan. Other coins held by latecomers to the group should be held temporarily despite floating losses. Holding coins is a very boring thing, and your cognition and patience determine how much you can ultimately gain.

For the long-term trend, the correction from over 10,000 to 70,000 for Bitcoin is seen as a halftime pause, but for small coins, the real major rise is yet to come. The current pre-halving adjustment and washing of the market, I believe that everyone must seize the opportunity to end this pullback (perhaps the last opportunity to get on board). The risk of being empty-handed in 2024-2025 is much greater than shorting, and confidence is a must. This pullback should focus on coins that resist decline and rebound actively, indicating that the main players also know and will cherish this pullback and scramble for funds. I will make recommendations for potential coins based on the market later, so cherish the present.

Disclaimer: The above content is personal opinion and is for reference only. It does not constitute specific operational advice and does not bear legal responsibility. The market situation changes rapidly, and the article has a certain lag. If you have any questions, you can leave a comment on VB.

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