It's already mid-August, and the probability of a market crash is very low now. The trend of oscillation and upward movement is coming, taking two steps forward and one step back.
After the sharp drop on the 5th, it seems like everyone is waiting for a second bottom. Those who are out of the market are waiting for the second bottom to buy in, while those shorting are waiting for the second bottom to cover, and those going long are waiting for the second bottom to get in. In this case, a V-shaped rebound similar to March 12th is coming.
I am crazily shouting for everyone to seize the opportunity to get into the spot market. The market is always missed while waiting!
In the past three months, I have positioned myself as a "BTC believer".
Looking back, all of my operations have been left-side trading (i.e., replenishing positions during a decline). However, whether this market trend should be considered a rebound or a reversal cannot be decided immediately. If we look at it from the perspective of right-side trading:
- The downtrend line has not been broken at the moment.
- It is still below the MA120.
- Those who have made money in this market (mostly due to luck, with a few being left-side replenish traders), and those who have lost money are the true nature of the market.
- Without a simple MACD golden cross, it can only be judged as a rebound.
My personal view is: Pay close attention to the bearish signal around 62000-63000. Right-side traders should not be too complacent and should closely monitor the potential turning points.
After the market stabilizes, which potential altcoins should be chosen?
Historically, before each major bull market explosion, the market will experience a major crash to throw most people off the train. The events of March 12th, May 19th, September 4th, and December 7th were all like this. If we look for a silver lining, such opportunities come about once every two years, and this opportunity has finally arrived. From the perspective of chips, the market always tends to move in the direction of fewer people making money.
In such an opportunity, I will take a long position, and it should not be a problem to earn three to five times by March next year.
Most altcoins, whether they are being pumped or not, have few buyers. The fate of altcoins in each bear market is likely to be zero. To enhance liquidity, one needs to prove their strength, not rely on past hype and talk.
There is no forever staying in the stock of a coin. When the main market has this demand, the pumps of several hot projects will often rotate to other coins! The narrative for the second half of this year is likely to be the U.S. election!
In 2021, it was DeFi, the metaverse, and in 2023, it was inscriptions, artificial intelligence, and much excitement. Will the second half of this year still speculate on these concepts? The other night, when Sun Ge opened a space, I also listened. There will definitely be new concepts for speculation in the second half of the year.
In this bull market, only a few altcoins can outperform Bitcoin. Pay close attention to new concepts and coins with large trading volumes.
Follow me and let's welcome the super bull market together!!!
Friendly reminder: When playing contracts, making money is just a process, but liquidation is definitely the final result. Cherish life and stay away from contracts!!!
In the crypto industry, if you want to seize the opportunity of the next bull market, you need to have a high-quality circle, where everyone can huddle together for warmth and maintain insight. If you are alone, looking around and finding no one, it is actually very difficult to persist in this industry.
If you want to huddle together for warmth or have any doubts, feel free to join us - WeChat Official Account: 有币志青年 (Youbizhi Youth)
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