Actually, I first placed my bet on the entire altcoin season and the start of the ETH market at 4000. The only two positions above are the breakout high of this bull market and the breakout high of the last bull market. I've been waiting to see if the market can fomo after breaking through this position. Being in the midst of fomo can be harmful; the right approach is to utilize fomo from the outside. Once the market starts to fomo, it will accelerate upward. After that, we need to pay attention to the price reaction during the pullback to see if it is healthy and swift. If these conditions can be met, it indicates that there is still potential for further increases. But that's a discussion for later; the key is to observe the price reaction at these two positions. Overall, I continue to be bullish.
How to observe the market's breathing frequency? It's actually quite simple. Treat yourself as a third party looking at the market, without your own biases, greed, or fear. Just think, if you were someone who hasn't participated in the market, and the price has reached its current position, what would you think?
Regarding these two key positions for ETH, it's not just about supply; what I care more about is how to proceed if there is a breakout. In this cycle, the 4100 level has failed to break through three times, and this is based on the trend after the ETF approval and interest rate cuts. So if it can break through this time, how it breaks will be crucial.
1. Breakout and retest: This kind of movement is healthier and more stable. The altcoins that are likely to follow will continue to raise their bottoms, waiting for the final pump.
2. Direct violent breakout: This kind of movement will cause the market to start FOMO, especially for tokens within the ETH ecosystem that have strong communities and strong capital. At this point, 30-50% large bullish candles are likely to appear frequently, but I will feel quite exhausted because bubbles will also emerge.
In summary, the method of breaking through key positions is very important. Be prepared, trade according to the rhythm, and raise stop losses to protect profits.
13.68K
30
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.