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If only I could send a voice message right now.
Expressing the current mood is necessary.
US stocks opened lower yesterday.
Bitcoin and Ethereum followed suit.
Gold hit a new high again. The commodities market danced along with gold.
In contrast, the vibrant state of the crypto world is no longer what it used to be.
Altcoins generally hit new lows consecutively. Has this been a bull market for years? Those who don’t know might think it’s been a continuous bear market.
Bitcoin and Ethereum in the crypto space are still in the altcoin slump, similar to the state of US stocks and those junk stocks.
In the crypto world, only Bitcoin is relatively strong, while altcoins spiral downward.
In the US stock market, only the Seven Fairy Stocks are relatively strong, while junk stocks spiral downward.
Maybe now we can understand?
In the crypto world, everything except Bitcoin is garbage.
In the US stock market, everything except Bitcoin is garbage.
I originally thought that when the storm came, pigs would fly!
But there are too many pigs, so the wind selectively blows only a few.
Regarding Bitcoin and Ethereum trends: Although Bitcoin has been declining continuously, its monthly support line has not been broken.
Currently, the outlook is still bullish. If the monthly support breaks, we should prepare for a new round of sharp decline.
Ethereum moves in sync with Bitcoin. Ethereum’s fluctuations have always been larger than Bitcoin’s. The monthly support line for Bitcoin is intact, but Ethereum has broken it! The trend will definitely follow Bitcoin’s lead.
Summary: For now, use Bitcoin’s monthly line as support. Still bullish. $BTC $ETH