The “golden pit” or “bear head”?

The "golden pit" or "bear head"?

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Some people want to plunge the bottom, some want to escape the top, but unfortunately few people can accurately monger on the top and bottom, want to fight the market, the only weapon we have is position management, by constantly adding and subtracting positions to get a relatively certain opportunity. Last night many people fell screaming, mentality collapsed, fear to the extreme, this time is often the time to see the bottom, in fact, we look back and think, the maniac shouted everyone 38xxx on board, although the relative left side of some, the back smashed to 29000, but as long as you do not add leverage, from the current price is only down 4%, this magnitude not to mention in the coin circle, even the stock market is not at all It is not a hedge. The majority of people who are screaming are speculating on small coins and doing leverage, and the market has fallen sharply, directly eating up all of these people’s profits, or even losses. The last round of investors who went to grab the fish tail market, basically now spit back out, those who remain profitable, either the long-term holders of the bull market, or know how to return to the whole body, for speculators, the final will be nine deaths. I still hope that we will be friends of time, and maybe at the end of the year, we will look at the current pie, which will be the “golden pit” in the bull market.

Russian lawmakers drafted an amendment to allow cryptocurrency payment contracts, and if the bill passes, it will legalize the use of cryptocurrencies for payments in Russia, which would be a very big leap for cryptocurrencies. The bill is still under review, and according to insiders, all parties have reached a consensus, which is considered one of the good things to look forward to in the future.

Bitcoin 10,000-100,000 holding giant whales bought 12+ million bitcoins when the market crashed last week, exchange bitcoin showed a net outflow again in the last two days, firecoin had 14,000,000 bitcoins moved from cold wallets to hot wallets, and new bitcoin holders are selling bitcoins to long term holders. This series of on-chain data is telling us that the fundamentals of bitcoin have not changed at all, all that has changed is people’s fears and the market will eventually follow its original trend and continue.

This wave of decline saw Metu lose $16.66 million on its bitcoin position, Ether lost $14.64 million, and Tesla fell below its cost for a short time, with losses reaching $125 million. Super institutions are hedged, and we, a small retail investor, have nothing to worry about.

CZ, the founder of Cryptocurrency, said that he has not sold cryptocurrencies in recent months and has no plans to do so in the future, while Sun Yuchen tweeted that he has plunged to buy. While the big boys are buying, the small investors are scared to death, panicking and throwing away their cheap chips.

Musk and V-God got into it, and V-God said that there was a fundamental flaw in Dogcoin’s plan to expand 10 times unless it gave up decentralization. Musk responded quickly, saying V God was worried about dogcoin eating up dollars. This matter maniacs do not do evaluation, from the blockchain point of view, rationally should be more believe V God, after all, he is this field deep 10 years of senior experts.

Panic index 10, extreme panic, we should be happy.

Market Analysis

Bitcoin.

The big pancake appeared oversold rebound, this wave fell too quickly too fast, short-term rebound is basically an inevitable event, there is still a 2-3 days safety period, the more critical point is near 37600, as long as the stand up, 40,000 will not be under discussion.

ETH.

This wave killed very sharply, the drop is also huge, once wanted to buy Ether investors at $1800, when the market gives the opportunity, not too many dare to get on board, which is dominated by panic emotions original plan. Today’s volume reversal will trigger further buying and rebound in the market.

DOT.

The rebound was not bad, and the funds opened the self-help market.

XRP.

Not heavy selling pressure, overall linked market today, rally stronger than expected.

LINK:

Previous bottoming funds all eat noodles, today opened self-help market, the rebound of the leader, worth further bullish.

BSV.

Can’t fall anymore, only rebound a way.

ADA.

Mainstream coins inside the least fallen, and bounced very hard, the market is still optimistic about its long-term trend.

XMR.

The linkage is dominant, the volume is not quite enough today, it is difficult to have a strong independent market in the short term.

DOGE.

The decline and rebound range is very similar to the big pie, continue to linkage oriented.

UNI.

Core assets are rallying violently, UNI, SUSHI, AAVE, MATIC, all these, there is a crazy influx of funds.

SOL.

The rally has also started, with average volume and linkage dominating.

The market entered the rebound cycle, the evening to tomorrow there will be more hindsight funds involved, after all, the exchange is still sunk in a large number of stable coins, when they feel that they missed the bottom, will chase high for us to lift the sedan, this position will not become a rebound high, you can continue to participate.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-golden-pit-or-bear-head/
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