Market sentiment was tense, BTC fluctuated between 27,200 and 28,200, and most altcoins fell.
ETH fell in the Asian session, the European session, and the US session. The selling pressure of the 120,000 ETH stolen by the hacker was too fierce.
This wave of decline in the altcoins was not caused by BTC sucking blood, but because too many ETH holders fled. ETH, as the big brother of the altcoins, was hit hard by the air force, and the younger brothers below were scrambling to flee.
Personally, I think as long as BTC does not fall below 27,000, there is still hope for bulls. 26,050 is a conservative support, and you can take a long position with a stop loss at this position. At present, 28,600 forms a new high and the first sell is formed. Below 28,500 is the second sell. You can enter in batches and make a mid-term order. The bulls lack endurance, and the air force is slowly suppressing.
trend analysis
BTC has a potential head and shoulders top pattern, with the neckline around 24,700. Once it falls below this neckline, it will chase all the way to around 22,000.
If it goes up again, don't chase more, don't chase more, don't chase more! Ship in batches. I say it three times because it's important.
The market is originally a reverse harvest. In today's market with extremely poor liquidity, the market makers will take advantage of the side with more meat. We need to pay close attention to the direction of the leeks. Don't just listen to those "big Vs" who say that the bull market is coming. They may ask you to take over while they are secretly selling. You must develop your own strategy for trading!