The impact of the collapse of gold and silver has also affected this circle; funds have not only failed to flow back, but have instead caused panic. The altcoins are in a dire state, with some even reaching prices near the 10.10 black swan. Those who have managed to survive until now have surpassed 90% of the entire market.
Bitcoin has seen everyone enter a position around 85000, and currently there are losses. Fortunately, it is just a small position, and such floating losses can still be tolerated. The crucial support at 80000 has been broken, and we are waiting for a rebound to around 82000, where heavier positions can be reduced.
Ethereum has also experienced the largest decline recently, with an entry at 2820, indicating a rebound to around 2850. This should be set as a moving stop-loss position. It peaked at 2860, providing an opportunity to escape, and it is expected that the rebound will reach around 2550.
In the short term, there are no good opportunities for altcoins, and it is better to remain inactive. The only segment I am optimistic about is the fan tokens benefiting from the World Cup's popularity. The decline presents an opportunity for those who have not entered yet, as well as a position for averaging down. With proper capital planning, I will continue to hold for a few months.
#ETH trend analysis
