Interpretation of cryptocurrency market on January 4th, 2023
The Nasdaq saw a rapid decline last night, led by Tesla. This affected the crypto market. However, the crypto market recovered its losses after the US stock market closed. There is still plenty of resilience. This also reflects that there is no longer any substantial risk at the current price level. The market may set new lows due to liquidity and other issues. But all we can see is the K-line of prices. The value curve behind it is now higher than the price. A decline will only provide more opportunities for people to get into the market.
The market is waiting for an opportunity that is enough to turn market sentiment into optimism. Every CP1 data and rate resolution this year could be a significant turning point. Until then, there is only patience to wait. As long as the risk is manageable, the long term long position is still the option with the highest chance of winning.
The market is waiting for an opportunity that is enough to turn market sentiment into optimism. Every CP1 data and rate resolution this year could be a significant turning point. Until then, there is only patience to wait. As long as the risk is manageable, the long term long position is still the option with the highest chance of winning.