See original
BullishBanter
--
Bearish
Ohhh Shit .. This is totally Bad time for All who's Buy or in Long positions... What I do here.. A big loss face within two days... Just at Start of previous .. I was in profit with almost $7000 and now in $5000 lose..
This situation is certainly puzzling and demands careful thought. While it's common for Bitcoin to experience pullbacks after such a massive rally from $60,000 to nearly $110,000, the recent drop toward $90,000 is within an acceptable range. However, the real concern lies elsewhere. Bitcoin remains at a relatively high level, yet altcoins have already plummeted significantly. If Bitcoin fails to hold support near $90,000-$93,000 and continues to drop, it could further strain the altcoin market.
For those holding altcoins, it’s crucial not to panic or act hastily. Coins like Ethereum, which have seen sharp declines, are likely to see a rebound around key levels, such as $3,600. If you're trading with high leverage, consider reducing it during a rebound to protect yourself from further volatility. For investors with additional capital, this drop could be an opportunity to accumulate some assets.
In the worst-case scenario, Bitcoin’s absolute support lies near $90,000, while Ethereum’s critical level hovers around $3,000. These levels should be monitored closely. It’s also essential to manage leverage carefully to avoid unnecessary risks. The market crash triggered by recent events, such as Powell's policy updates, took everyone by surprise. However, looking ahead, optimism persists. With Trump’s inauguration on January 20th, there’s a possibility of a market rally fueled by renewed investor sentiment.
This current pullback can be viewed as a necessary period of consolidation before another upward wave. The next 30 days offer ample time for the market to stabilize and recover. I personally plan to take calculated risks leading up to January 20th, expecting the market to choose its direction after this consolidation phase. Patience, discipline, and sound risk management will be key during this time.
This situation is certainly puzzling and demands careful thought. While it's common for Bitcoin to experience pullbacks after such a massive rally from $60,000 to nearly $110,000, the recent drop toward $90,000 is within an acceptable range. However, the real concern lies elsewhere. Bitcoin remains at a relatively high level, yet altcoins have already plummeted significantly. If Bitcoin fails to hold support near $90,000-$93,000 and continues to drop, it could further strain the altcoin market.
For those holding altcoins, it’s crucial not to panic or act hastily. Coins like Ethereum, which have seen sharp declines, are likely to see a rebound around key levels, such as $3,600. If you're trading with high leverage, consider reducing it during a rebound to protect yourself from further volatility. For investors with additional capital, this drop could be an opportunity to accumulate some assets.
In the worst-case scenario, Bitcoin’s absolute support lies near $90,000, while Ethereum’s critical level hovers around $3,000. These levels should be monitored closely. It’s also essential to manage leverage carefully to avoid unnecessary risks. The market crash triggered by recent events, such as Powell's policy updates, took everyone by surprise. However, looking ahead, optimism persists. With Trump’s inauguration on January 20th, there’s a possibility of a market rally fueled by renewed investor sentiment.
This current pullback can be viewed as a necessary period of consolidation before another upward wave. The next 30 days offer ample time for the market to stabilize and recover. I personally plan to take calculated risks leading up to January 20th, expecting the market to choose its direction after this consolidation phase. Patience, discipline, and sound risk management will be key during this time.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
Replies 0