Interpretation of cryptocurrency market on April 11th, 2023
BTC continued to surge in the early morning hours, and the realization market may have opened up. However, BTC is still leading the market, suggesting that the market is counting on a macro-leaning theme of events rather than Shanghai escalation. It may be Hong Kong's openness to the crypto market that has opened the market to the possibility of crypto returning to multipolarity.
The positive has already started to materialize. Just reduce your positions in batches as planned. BTC pulls off about 10%, each time reducing 20%-30% of the total position state. ETH starts reaching nearly 2,000, leaving the market in batches according to the same idea. Judging the altcoins, which must catch up to the rise, is more challenging. BTC has set new highs for this year several times. ETH has also pulled away from the price in January. But the altcoins are still quite a ways off the highs of the first wave of gains in January. Whether or not to reduce your position in parallel when ETH reaches 2,000 depends on your situation. If you are aggressive, you can ignore it for now. First, wait and see if there will be a catch-up market to regain this year's highs. Conservative investors can go in tandem with ETH.
The positive has already started to materialize. Just reduce your positions in batches as planned. BTC pulls off about 10%, each time reducing 20%-30% of the total position state. ETH starts reaching nearly 2,000, leaving the market in batches according to the same idea. Judging the altcoins, which must catch up to the rise, is more challenging. BTC has set new highs for this year several times. ETH has also pulled away from the price in January. But the altcoins are still quite a ways off the highs of the first wave of gains in January. Whether or not to reduce your position in parallel when ETH reaches 2,000 depends on your situation. If you are aggressive, you can ignore it for now. First, wait and see if there will be a catch-up market to regain this year's highs. Conservative investors can go in tandem with ETH.