As gold and silver retreat, funds have not flowed into the cryptocurrency market, and it is a fact that the entire market is facing a liquidity crisis. It is highly probable that there will be a significant market washout; it was originally a bad hand, and only by reshuffling can there be new opportunities. This is the true depiction of the current market, which has recently been characterized by tentative entries. The downward trend is hard to reverse, and we need to wait for opportunities after the washout.
Bitcoin and Ethereum have had particularly large fluctuations in the past couple of days. Ethereum is facing a defensive battle at 2000, and there are currently signs of a stop-loss rebound. The upward resistance is around 2250, and the probability of continued decline remains significant. By mid-year, it is expected that Ethereum will be around 1500; I will consider this position as my first buying point for long-term holding in the spot market and start dollar-cost averaging.
Bitcoin has reached 70,000 as expected. The market's further decline will soon see Bitcoin starting with 6. There are currently signs of a rebound, with resistance around 76,000. My expected first buying point for Bitcoin in the spot market is around 55,000, and I will restart dollar-cost averaging after it reaches this point.
In a downward trend, any purchase will incur some loss, just varying in magnitude. The frequency of recent updates has decreased because there are currently no opportunities in this circle. Staying still and living well can allow you to outperform most of the market.
#ETH trend analysis
