A four-echelon currency structure has formed, which echelon do you belong to?
Bitcoin experienced a round of plummeting last night, with the lowest point reaching $11,322.
But as of now, it has been pulled up again, so from the perspective of the overall structure, the current multi-army is still very strong.
Of course, if there is no pull up here, then the possibility of re-bottoming is very high.
Now that it is pulled up, then US$11,322 is basically a low point in this wave of four hours, and it is very possible to continue to attack the previous high of US$12,123.
On the subjective side, I personally think that the possibility of success in this wave of upside is relatively high.
In addition to the strong structure, this round of market has actually gone up smoothly so far, while the decline has been more tortuous.
We have actually seen a similar market in the previous 19 years of Mavericks.
The characteristic of this kind of market is that when it falls, two or three candlesticks end, but when it rises, there are often many consecutive bars, which is very smooth.
Therefore, before there is a big drop that breaks this situation, I think that you should not try to sell short orders, either by holding the spot to watch the show, or looking for opportunities to do long.
In addition to big pie, other mainstream currencies can be roughly divided into four echelons at present.
They are the link of the independent market, then the pie echelon, then the strong and rising echelon eth, and finally the weak and rising echelon: eos, ltc, bch, etc.
The first echelon link, needless to say, basically, if defi is still popular, link will not be too weak.
Of course, link is also a pity. It has basically been a year since 2019, and it has already increased by 30 times.
I personally do not hold this currency, and the second echelon of btc goes without saying, the protagonist of the bull market.
The third echelon of Ethereum, on the one hand, has the blessing of DeFi, and on the other hand, has its own expectations of eth2.0, so it is easy to understand that it is currently relatively strong.
As far as the fourth echelon is concerned, each has its own basic situation, but generally they all have one characteristic, that is, there are currently no hot spots, and no strong players come out to make trouble.
Like bch, there has been more internal fighting recently, and Bitmain has no time to pull bch.
Litecoin and etc, one is a brother of Bitcoin, and the other is a fork of Ethereum, both of which are basically follow-up types from beginning to end.
In the case of eos, what we have seen so far is that its ecological defi has started again, but it has not produced any results, and block.one has not made too many big moves, lacking hot spots to speculate.
So generally speaking, the first, second and third echelons are relatively strong at present, and the fourth echelon of currencies, if the basic market does not change too much, you need to wait for the big bulls to come, and then they may take off.
