At midnight, Bitcoin's market encountered a significant turning point. Starting from the 101162 high point, it faced pressure, and the situation took a sharp turn downward, with a one-sided descending waterfall crazily plummeting until it stopped at the 95681 low point. In just three days, Bitcoin corrected a full 10,000 points, such a huge drop made the entire market seem to be trapped in a bottomless washout.
The current market trend is clear, the K-line pattern on the order book has shown a very obvious correction at a high position. A large bearish candle has prominently appeared, which undoubtedly indicates that the selling pressure in the market is continuously increasing, and the buying forces seem powerless under the fierce pressure from the bears. Analyzing from the 4-hour cycle, Bitcoin has shown a clear downward trend in the short term. The technical indicator MACD has also issued unfavorable signals in this 4-hour cycle.
Has Bitcoin finally corrected? Is the altcoin season opportunity coming?
Last night, Bitcoin sharply retraced, dropping by 10,000 points at its lowest! However, the altcoin market performed strongly; although the fluctuation range expanded, it did not disrupt the overall upward trend.
Currently, BTC is not the best entry point, but altcoins are beginning to show good layout opportunities. As Bitcoin funds flow into altcoins, will this officially trigger a new round of altcoin season? Let's wait and see!
Every significant drop in a bull market is a good opportunity to enter:
Just like today, we are in a bull market cycle, but this year's market has a characteristic that it's fast, precise, and fierce; the price surge is particularly quick, and the crash is also especially fast. Because there are no innovations or new stories to drive it, it's hard for the market to continue indefinitely, and everyone has to adapt to this rhythm.
When Bitcoin rises, altcoins fall! When Bitcoin falls, altcoins continue to fall! This is the true reflection of the market these past few days:
However, everyone shouldn't be too anxious. As long as Bitcoin doesn't return to 30,000 points, this round of market will definitely not end. Right now, it's just not yet the time for altcoins to explode, so I think brothers holding altcoins should be patient. As long as the altcoins you hold are listed on major exchanges, the project team is still active, and the direction aligns with market demand, then there's no problem. Even in a bull market, good altcoins can outperform Bitcoin.
The altcoin season cannot be rigid; it's better to respect the actual situation. When opportunities arise, the market will also signal before it rises, just be patient and wait.
Air Force should be cautious, low long positions are the way to go! Three major secrets to selecting quality altcoins
Shorting may seem tempting, but the risks far outweigh the rewards; being stubborn as a bear is really unnecessary! Low long positions are the wise choice in the current market.
So, how to select truly quality altcoins? The key lies in these three points:
Trends and popularity: For example, $DOGE, with Musk crazily endorsing it, the market is hotly speculating and attracting traffic, with funds continuously flowing in, causing the price to naturally rise.
Team and narrative ability: Quality projects' communities and teams can proactively create topics and drive hype. Just like Neiro, which became the focus right after its launch on a certain exchange.
Strong market maker support: Traffic and funds are the foundation of any project's speculation; if there are strong market makers backing it, its potential is naturally greater.