Don’t be carried away by market sentiment, let’s hang on to the shorts for a while first

Daytime long and short game all day, since there has been no results, then the night will continue to move up along the minimum resistance.

Those who have a deep understanding of bitcoin fundamentals will not choose to sell their coins at this position anyway, but rather the more others fall in panic and don’t know what to do, the more they will copy the guys and hit in, because in the long run, bitcoin is extremely cheap now, and in a down market, there will be most people who will question this view, this is the market, most people will follow the market sentiment, while a few will continue to learn and A few will continue to learn and think independently, and eventually outperform the majority. If we put it a bit more harshly, the future of bitcoin will rise to more than $200,000, whether bitcoin falls to the beginning of 2 or 1, and what effect does it have, but it is still a bottom range. That’s why during the most panic time yesterday, the CEO of Grayscale tweeted that you guys are crying while I buy again, while Sun Yuchen also tweeted that he was buying. Many others in the market were buying at that moment, and Madman himself was one of them, adding another 20% position in after the new low of 29000, and later intending to unload the position added below between 35000-42000 to continue in a comfortable holding environment. That’s the way it is, people who understand bitcoin will naturally understand, and those who don’t, will always be played by Mr. Market, the end result of chasing up and killing down, is to eliminate out of the game.

The Federal Reserve, for its part, stated a number of things again last night, and in general, is that inflation remains manageable at the moment and will not persist, while it will not raise interest rates because of employment and economic rebound, and the overall policy is still on the easing side. So Nasdaq hit another record high, there is still a lot of money in the market, where else can the money go but these risky investments, so when the U.S. stocks speculate to a certain height and coincide with bitcoin pullback to a relatively low level, the market certainly has the logic to continue to rally.

The U.S. insurance company Universal accepts cryptocurrencies to pay premiums. In fact, overall, there is no difference between the U.S. and in El Salvador, where the popularity of cryptocurrencies has reached a very developed level, and cryptocurrencies can be used completely equivalent to the U.S. dollar.

State Street Bank started to lay out the field of cryptocurrency ETF services because they think the SEC will eventually release cryptocurrency ETFs, so they laid out in advance to capture more market share.

The Dubai Nasdaq exchange bitcoin fund started trading yesterday and opened up 11% just in time for the lows to come online, will this be a historic turning point?

El Salvador’s president released a bitcoin mining plan with volcanoes as a renewable energy source. Clean energy mining bitcoin is increasingly being pushed, so the stock market related photovoltaic industry should be getting some attention from the funds in the near future, and bitcoin will become the most environmentally friendly and convenient underlying financial technology in the future. he is gradually changing his flaws and making everyone fall in love with him a little bit.

ARK continues to buy Coinbase stock and Grayscale Bitcoin Trust. This spirit of fixed investment by Sister Wood is worth learning, after all, it is the bottom range, and although we don’t know where the big bottom is, this fixed investment will pay off sooner or later.

MicroStrategy’s bonds are below their par value, mainly due to the decline in bitcoin, but it doesn’t matter, the company just needs to pay investors interest, and it won’t blow up and ship out, no big deal.

Bakkt is launching a cryptocurrency debit card, which is continuing to generate demand for cryptocurrencies, and for those with a limited supply, it’s clearly a long-term boon.

Mark Cuban still thinks bitcoin is better than gold, many billionaires do, is our perception better than theirs?

With Paypal and VISA joining Blockchain Capital’s $300 million venture capital fund, these big guys are starting to lay out the crypto industry with some access, and as long as the money can keep pouring in, the bear market won’t come, much less the zero-sum game.

The US SEC has postponed another Bitcoin ETF application, and it looks like it needs to wait for the crypto bill to come out before the SEC has a reason to approve it for passage.

The funding rates for perpetual contracts on several exchanges reached near one-month lows yesterday, while the panic index reached a recent extreme of 10, a sign of FOMO on the short side and a market rally coming when there is extreme euphoria on the short side. This is also the basic logic of yesterday’s maniac judgment that there will be a big reversal in the evening.

Market Analysis

Bitcoin.

The 4-hour bottom fractal + daily level bottom divergence, basically you can confirm that bitcoin is going to come out of the daily level rally, the two pressure levels of this wave of rally in 35500 and 41000, the current situation from the small level pass to the large level, the long side has entered the phase of hanging short, can we reach our target rally level of 45000, depending on how this wave is interpreted. In any case, it’s only the first day of the rally, just hold first.

ETH.

Funds are still the main attack on the big pie, the Ether side still needs time, the overall still linkage is dominant.

DOT.

Last night Coinbase’s boca rose sharply, up to 70%, reaching $22.8, then it was moved back by the robot moving bricks, currently see nothing new expected, do not know what the old American wild buy is the case, or weak linkage, see the rebound.

XRP.

The former CTO nearly 3 weeks and sold more than 200 million XRP, worth about 128.7 million U.S. dollars, Ripple has the presence of this money-printing machine want to go up really not easy, but the short-term pressure to end, the rebound is the main.

LINK.

LINK rebound mainly, the magnitude will be relatively large compared to other mainstream.

ADA.

Downward smash after the basic recovery of the decline, is expected to continue to rally.

BSV.

After the new low bought, now make money, but the rebound strength or not, not as good as other mainstream coins, hold a few days to see the situation.

XMR.

Today’s rebound is general, shock-oriented.

ETC:

The rebound strength is not good, the funds did not recognize, yesterday’s participation can change positions.

MATIC.

Linked rebound is dominated by the funds pulling less resolute.

SUSHI.

Rebound weak, funds rushed to UNI today, the reason is that UNI for the first time to find a COO, it seems to be ready to get things done.

SOL.

The rebound is strong, and the opportunity for the future is still not small.

KSM.

Slot lockups look average overall, which will lower expectations for future polka slot auctions, not great news.

The long/short game was played all day, and since it never came to fruition, it will continue to move up along the minimum resistance in the evening.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/dont-be-carried-away-by-market-sentiment-lets-hang-on-to-the-shorts-for-a-while-first/
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