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Recently, the market has been jumping up and down like a monkey. It goes up for three days, then falls back to the starting point in just one day. The news fluctuates between favorable and unfavorable, making people feel confused. So, how should we operate? Here, I also provide a suggestion for spot trading. If you are in a full position, review the coins in your hand to see if they belong to strong ones. If not, it's time to switch to strong coins to better embrace the crazy alt season. If you are in a light position, you can start building a position in strong coins in batches, without trying to buy at the lowest price. Because we are still in a bull market, attempting to buy at the lowest may result in missing out, as the market may reverse at any time. So, don't worry, the upward trend of the big market will not change, it's just a matter of time. Don't get whipsawed out of positions before the crazy market arrives!
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Bitcoin continued to fall last night, with shorts continuing to exert pressure and testing the low point, reaching around 66,200. This is in line with our expectations. After touching the 66,200 line, it rebounded instead of continuing to fall. It has entered a correction phase, and Bitcoin is currently oscillating and adjusting around 67,000. The short-term overall trend is still quite clear, with multiple rebounds followed by falls. The short trend structure of the shorts is still quite obvious, showing a weak trend, and a sustained rebound has not been formed. This indicates that the short-term market is still being controlled by shorts, so the overall trend is still weak. The rebound of BTC was suppressed at around 68,000, forming short-term resistance. Therefore, the short-term perspective is still weak, and the bearish view remains unchanged!
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When ETH rises, it shrinks timidly, and when it falls, it takes the lead! After the white plate's small rhythm consolidation yesterday, it tested above 3520 in the evening and encountered resistance from shorts, falling back. The lowest test was around 3425, and the current price is running near 3470. The overall trend is bearish, but the overall trend is beginning to weaken, coupled with the continued dominance of shorts. The moving average structure continues to spread downward, and the MACD has been shrinking on decreasing volume, from around 3900 to the current 3430. The DIF and DEA are also spreading downward near the 0 axis at high levels. It is expected that if the market cannot hold above 3400, a new liquidation will be imminent, so be sure to be vigilant and prioritize safety. Although the overall trend is bearish, it is most prudent to adhere to the trend and position for a rebound in the bear market!
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