Yesterday, there was another market trend with a smaller amplitude but similar to that of a painting door.The recent market performance has shown the following characteristics:1
Yesterday, there was another market trend with a smaller amplitude but similar to that of a painting door.
The recent market performance has shown the following characteristics:
1. The fluctuation amplitude gradually decreases.
2. The rebound strength of bulls has weakened.
3. The fluctuation frequency decreases.
4. Continuously hovering near support level.
5. Extended duration.
These signs indicate a decrease in market activity, especially for Bitcoin, with fewer participants. On the contrary, counterfeit coins are more popular. From market trends, it can be seen that a clear confrontation between long and short forces has begun to emerge, with long forces gradually depleting in consecutive rebounds, while short positions gain an advantage at key points. Although the market has not reached a new low, this does not mean that bearish forces have weakened, but rather indicates that they are accumulating strength.
It's already September 9th, approaching mid month.
In the screenshot below, we can clearly see that starting from the 10th, a series of important events will occur, which will significantly affect the cryptocurrency market.
The market has reached this critical position, coupled with the continuous emergence of news events, the true trend of the market may soon become apparent.
For those eager to capture market opportunities, they may need to prepare to stay up late again.
However, for me, I am more accustomed to trend trading. Whether the market falls sharply, sharply, or sharply, trend trading usually leaves us with enough time.
The main bottom needs to attract funds, as the scale of funds is large and cannot be accessed at once. Therefore, identifying the bottom and entering at a relatively low point is crucial.
Most people are filled with anxiety, fearing both a market downturn and missing out on opportunities. In anxiety, they may miss the perfect opportunity to enter the bottom of the market.
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