Bitcoin began to fall, and the market panicked. How should we think independently in this situation?
Today is the weekend, but it is not easy for coin lovers at all. The reason is that in the past two days, the hourly level of Bitcoin has reached a period of change, and the currency price is facing a directional choice, so every move of the currency price affects the hearts of coin lovers. This kind of anticipation and entanglement are intertwined, turning into indescribable pain and helplessness. Why is this? let's take a look
Since the price of the currency is at the end of the triangle for consolidation, changes may occur at any time, but I don’t know why the news that the price of the currency will change yesterday was flying all over the sky. After I finished writing the article yesterday, not many people said that they would change the market, but until yesterday In the afternoon, there were a lot of people watching the change. Almost everyone was waiting for the change. When everyone was waiting for the change, I knew it. This change would make people extremely entangled. When the currency price really broke through? Obviously, it’s not that simple. Sure enough, the market has tossed the coin lovers to death. When everyone was bullish last night, the price of the coin rose tentatively upwards symbolically. Currency lovers are enthusiastic about bulls. If you still only look at bulls in the afternoon, you will be determined to make long orders at night. The trick of the main force is really beautiful. There was a fatal lure in the market sentiment, and the lure lasted for 5 hours, which was too terrifying, and then a drop at 4 o'clock in the morning directly caught the long-sellers of $59,400. There is nothing wrong with trapping itself, it is only one or two thousand dollars, but the problem is that the currency price is just in a period of change, and this downward decline is interpreted by the market as a downward change, and suddenly the market direction has completely changed , The coin lovers who were bullish yesterday are all bearish today. Some people see 52,000, and some see 50,000. What the market is most afraid of is this situation. Everyone's emotions are pointing to one side, so that the main force can use their strength to repeatedly toss, and the main force can toss the coin lovers to death within the shock space of less than 3,000 US dollars.
So what exactly do I want to say? What I want to say is that when the market sentiment is too excited, when everyone is bullish or bearish, we must maintain rational thinking. As I said yesterday afternoon, the only problem with the market now is that everyone is bullish. , There are too many people watching the breakthrough, so the currency price trend is not so smooth. Many currency friends should have seen what I said, so how do we maintain rational thinking? For example, today, when the price of the currency fell, everyone was short-sighted, and panic spread again. How should we think independently this time?
When everyone is panicking, you have to immediately check how far the market is falling, who is falling, and whether the decline is within reasonable expectations. Second, whether the price of the currency is falling too fast. Third, the price of the currency is falling. Is the strong support broken? It mainly depends on these three points. If these three points are all in line, it means that the real big drop is coming. Let's take a look at the current market
First, what is the strength of the decline? From 59,500 US dollars to 57,000 US dollars, the drop of 2,000 US dollars is not a big but not small, because it is only 59,500 US dollars that traps people, and it will definitely go down repeatedly to toss people who enter the market. Because even if the decline is not large, the period of decline will be long, and the price of the currency will stay below $57,500 for a long time and go down from time to time. These people will be afraid
Second, is the rate of decline too fast? Judging from the 15-minute chart, every time a negative line falls down, the rebound is not strong, and then there is another negative line. This rate of decline is really not small
Third, the price of the currency is supported at around $57,200 on the lower rail of the triangle this time, and it has now arrived
Therefore, based on the above three points, the strength of this decline cannot be said to be too big but it is indeed not small. If this is the case, there is a possibility that the currency price will fall back to $55,500 for the second time. I didn't see the strength of this kind of decline. If there is, I will update it in real time.
If Ethereum is a little stronger, other altcoins will be weaker, so don’t keep taking altcoins, the risk is still relatively high
