Interpretation of cryptocurrency market on February 16 2023
The market continues to rise sharply. The main force's manipulation is clever. BTC rose more than most mainstream tokens. At present, only BTC and ADA have refreshed the highest level this year among the top 10 varieties of market capitalization.
Now, the pull-up was the lightest, with fewer followers. Even in pulling up, shorting funds will continue to emerge. Directly challenging the last resistance level of the bear market, pulling BTC hard can mobilize the emotions of the wait-and-see funds to the greatest extent.
Combined with the market value of stablecoins, there is plenty of funds in the field. Although there is a decline compared to the bull market's peak, the current market cap of stablecoin is comparable to September 2021. Recently BUSD has only been out and in. The price of BTC was 50,000 at the time, and given that more new coins are coming into the market to take away some of the money, a purely static comparison cannot be made. But for a price of 24,000, it is still more than enough. BTC, as a potential incremental capital, is the most concerned species. The sharp rise brings the capital to follow the wind, not only the field stock.
Once the resistance level is broken, chasing up is the last precaution. Even if it seems incredible, the market is always right. The market also once again verified the correctness of the strategy. Long-term positions were once again bailed out. This decline also allows increasing the long-term chips and re-adjusting the position on board. The follow-up short-term chase positions strictly enforce the stop loss on the good. The market may also be repeated because of policy adjustments, but the short term is just the icing on the cake, no matter what. Don't let a blind high carry single ruin the previous months of the layout. The entire strategy of the primary plate has always been in a long-term position.
It's not time to celebrate yet. Once the price of 26,000 is passed, the bull market is undisputedly open. Now still challenging the last resistance, please continue to remain cautious.
Now, the pull-up was the lightest, with fewer followers. Even in pulling up, shorting funds will continue to emerge. Directly challenging the last resistance level of the bear market, pulling BTC hard can mobilize the emotions of the wait-and-see funds to the greatest extent.
Combined with the market value of stablecoins, there is plenty of funds in the field. Although there is a decline compared to the bull market's peak, the current market cap of stablecoin is comparable to September 2021. Recently BUSD has only been out and in. The price of BTC was 50,000 at the time, and given that more new coins are coming into the market to take away some of the money, a purely static comparison cannot be made. But for a price of 24,000, it is still more than enough. BTC, as a potential incremental capital, is the most concerned species. The sharp rise brings the capital to follow the wind, not only the field stock.
Once the resistance level is broken, chasing up is the last precaution. Even if it seems incredible, the market is always right. The market also once again verified the correctness of the strategy. Long-term positions were once again bailed out. This decline also allows increasing the long-term chips and re-adjusting the position on board. The follow-up short-term chase positions strictly enforce the stop loss on the good. The market may also be repeated because of policy adjustments, but the short term is just the icing on the cake, no matter what. Don't let a blind high carry single ruin the previous months of the layout. The entire strategy of the primary plate has always been in a long-term position.
It's not time to celebrate yet. Once the price of 26,000 is passed, the bull market is undisputedly open. Now still challenging the last resistance, please continue to remain cautious.
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