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The cryptocurrency market has never been a simple paradise of 'paying and getting rewards'. On the contrary, it is a complex environment filled with challenges and opportunities, testing the wisdom and patience of every participant. This week's market trends have once again proven this.
From the beginning of the week to Thursday, the market continued the downward trend from last week, showing a steady decline. However, on Friday, the market experienced a significant rebound due to news influence. Bitcoin briefly touched around $117,400, while Ethereum even set a new high of around $4,888. This dramatic volatility highlights the importance of seizing market opportunities.
From the monthly chart perspective, the price of Bitcoin is operating near the upper Bollinger Band and has formed a doji candlestick pattern. This combination of technical indicators suggests that the market may be on the verge of a significant reversal, with momentum potentially concentrating for an explosive move. However, the previous surge was unable to sustain, showing an overall retreat, indicating that resistance above remains strong, and the long upper shadow also confirms significant selling pressure.
In such a market environment, blind operations are extremely dangerous. Short-term luck cannot serve as a foundation for long-term success. On the contrary, a deep understanding of market dynamics, maintaining rationality and patience, is the key to survival and development in this highly uncertain field.
Every market fluctuation contains valuable experience. For long-term and swing trading, it is important to make decisions based on in-depth analysis and clear strategies, rather than relying on intuition or luck. The market will always punish those participants who are not cautious enough.
In the field of cryptocurrency, 'doing nothing' may be the norm for most people, but that does not mean we should give up trying. On the contrary, we should learn from every market fluctuation, continuously refine our investment strategies, and improve our risk management capabilities. Only in this way can we find our footing in this market filled with opportunities but also full of risks.