Did everyone get in this morning? We actually dropped all the way to the extreme level near 74,000 that Sister Bei mentioned. I added to my positions in Bitcoin, SOL, and UNI—coins that have held up relatively well.
The break below 74,500 is effective in the short term if we can’t reclaim it. If we still can’t get back above it over the next day or two, that will confirm the breakdown. For now, I’m watching for a second test, though we could also be near the bottom, since futures liquidity below 75,000 has already been swept, and trading volume is pretty high.
If U.S. stocks struggle tonight, we’ll likely remain in an accelerated bottoming phase for a while, so we should be more cautious. During an accelerated sell-off, prices can keep plunging to new lows until they finally stop falling and stabilize; only then can a base form. From here, any buy orders on the left side should be placed only at very ideal, major support levels. As for me, I’ll keep buying as prices fall to lower my average entry price!
$BTC $SOL $ETH
The break below 74,500 is effective in the short term if we can’t reclaim it. If we still can’t get back above it over the next day or two, that will confirm the breakdown. For now, I’m watching for a second test, though we could also be near the bottom, since futures liquidity below 75,000 has already been swept, and trading volume is pretty high.
If U.S. stocks struggle tonight, we’ll likely remain in an accelerated bottoming phase for a while, so we should be more cautious. During an accelerated sell-off, prices can keep plunging to new lows until they finally stop falling and stabilize; only then can a base form. From here, any buy orders on the left side should be placed only at very ideal, major support levels. As for me, I’ll keep buying as prices fall to lower my average entry price!
$BTC $SOL $ETH
