Hold the chips, get past the majority, become the minority

In the past two days, the overall market fell again. Led by BTC and Ethereum, the market generally fell again. Among the top 100 coins at the time of writing, except for stablecoins, almost all of them have seen their trading prices plummet within 24 hours.

Let's take a look at the market trends of three typical coins: BTC, Ethereum and BNB, the head coin of the exchange.

1. BTC trend

The picture above shows the trend of BTC from June 1 to October 24. The part circled by the ellipse in the figure is the current waterfall market. Judging from the volume at the bottom of this plunge, the volume was also significantly enlarged. As of writing, the price of BTC is $7,500.

There are two straight lines in the figure, the upper one shows that the top price of BTC in the period after the plunge at the end of September was between $8,400 and $8,500; the lower one shows that the bottom price of BTC before the plunge was $7,800.

Calculated by morphological method, BTCIf it cannot stand above $7,800 in the short term after this plunge, it is likely to fall to around $7,100.

2. ETH trend

The picture above shows the trend of ETH from June 1 to October 24. The part circled by the ellipse in the figure is the current waterfall market. Judging from the volume at the bottom of this plunge, the volume was also significantly enlarged. The price of ETH at the time of writing is $161.

There are two straight lines in the figure, the upper one shows that the top price of ETH in the following period of time since the plunge at the end of September was at $192; the lower one shows that the bottom price of ETH before this plunge was between $166 and $172.

Calculated by morphological method, EthereumIf it fails to gain a foothold above $172 in the short term after this plunge, a drop to around $146 is very likely.

3. Trend of BNB

The picture above shows the trend of BNB from June 1st to October 24th. The part circled by the ellipse in the figure is the current waterfall market. Judging from the volume at the bottom of this plunge, the volume was also significantly enlarged. As of writing, the price of BNB is $16.74.

There are two straight lines in the figure, the upper one shows that the top price of BNB in ​​the following period of time after the plunge at the end of September was at $18.97; the lower one shows that the bottom price of ETH before this plunge was between $15.8 and $15.31.

The sharp drop has not yet touched the bottom red line, so the short-term trend is still unclear, but once it falls below the bottom red line, BNB is likely to fall to around $12.2 according to morphological calculations.

4. Advice to investors

This slump involves more currencies than the one at the end of September. If you go to coinmarketcap to check the top 1,000 coins, you will find that almost all coins with a little liquidity have plummeted.This shows that market confidence is collapsing across the board.

From the perspective of trading volume, both BTC and Ethereum are falling in volume, indicating that more funds are fleeing.

It is now the end of October, the next November and December will be Thanksgiving and Christmas in the West, and January next year will be the Chinese New Year.Several major trading regions around the world will enter a period of relatively light trading one after another, and they will all face a situation of tight funds at the end of the year. Therefore, under this situation, the possibility of the trend continuing to fall is greater than the possibility of maintaining the status quo or rising.

But after the time period is extended to several months or years, the current sharp drop may be an opportunity to pick up cheap chips, and at the same time, don't give up the chips in your hand easily.

Finally, share a passage from the old cat:

It is always a few people who make money! It is too difficult to be a minority who think they are the minority who can make money. There are thousands of reasons to be an ordinary person, but only one ability is needed to be a minority: to be able to survive all other ordinary people.