Interpretation of cryptocurrency market on April 14th, 2023
With the Shanghai upgrade landing, the ETH pledge rate has accelerated as expected. The market's judgment is still only the first wave of the bull market. And it has already entered the second half of the wave that needs to be liquidated. Because they have been staying strong, mainstream coins can bag 2-3% positions for every 10% increase as planned. For example, the ETH price of 2,000 has reached the position reduction interval. After reducing, it can continue in 2200 and 2400 near the batch out of the field.
Altcoins are lagging behind more, and the rise is also rotating. For example, ARB is the most muscular wave up and has reached a price where it can recover costs. Other tokens can decide whether to reduce their positions partly first, according to their risk appetite. Aggressive friends can still wait to return to this year's former high before recovering costs.
Since the previous predictions have been fulfilled, the next step is much simpler. Only sell. No longer do any position rotation. This round of medium and long-term operations from last year will also basically end in this round of the market.
Altcoins are lagging behind more, and the rise is also rotating. For example, ARB is the most muscular wave up and has reached a price where it can recover costs. Other tokens can decide whether to reduce their positions partly first, according to their risk appetite. Aggressive friends can still wait to return to this year's former high before recovering costs.
Since the previous predictions have been fulfilled, the next step is much simpler. Only sell. No longer do any position rotation. This round of medium and long-term operations from last year will also basically end in this round of the market.