Bimoo

If you're wrong, admit it. The market is stronger than expected, but chasing highs at this level is indeed unwise.

Ethereum has performed better than mainstream cryptocurrencies such as Bitcoin and Sol. This is a signal of catching up in terms of price increase, indicating that the rebound rally is nearing its end. After a few days of trading in a high-range consolidation, it could plummet at any time due to negative news.

A pullback after a rally is a sign of a short-term peak, and a correction lasting up to a month is expected.

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The economic data of the United States next week is likely to cause significant fluctuations in the market, and the market will accelerate its pullback.

The rebound is nearing its end. Next, the market will continue to retrace. Don't chase after rising prices.

My judgment is being verified. The market has adjusted as expected, but the intensity of this adjustment will slow down and it won't happen all at once.

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The rebound has ended, and the market has started a new round of bottom exploration. After this round, the second half of the bull market will arrive.

“Bull’s back? Just kidding — the rebound’s almost over, don’t buy at the top.”

Bitcoin surged against the trend, driven by gold hitting a new all-time high and unaffected by the Nasdaq’s decline. However, other major cryptocurrencies significantly underperformed compared to Bitcoin. My prediction is that a broad market correction will begin tomorrow, as today’s rally appears to be the last gasp of strength.

The short-term market will experience a pullback as expected.

I still hold my previous view: in the short term, Bitcoin and Ethereum need a breather and won't break out directly.

During the two days when the U.S. stock market is closed, the crypto market is likely to continue consolidating at high levels, then may accelerate a pullback due to sudden negative news.

Currently in the second bottoming phase, stay patient and wait for a better opportunity to act.

As soon as there is a slight pullback, the pessimistic sentiment in the market spreads again. However, just as I said a couple of days ago, for Ethereum to return to 2000, it must experience a pullback. The extent of this pullback won't be too deep, and 1500 will serve as a strong support level. 🫡

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Several mainstream coins appear strong and resilient, refusing to drop significantly. However, my judgment is that Ethereum still needs a correction before it can return to $2,000.

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Comparing Bitcoin (BTC) and Solana (SOL), Ethereum (ETH) really seems to be a disappointment that can't live up to expectations.

The continuous rise in volume contraction indicates insufficient rebound momentum, and it is necessary to be wary of a short-term pullback.

In the short term, Ethereum may maintain range-bound oscillation, continuously consolidating its bottom. A good strategy would be to buy low and sell high. High: 1700, Low: 1400.

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With the switch between a bull and a bear market, the market changes at such a rapid pace. In fact, what changes is the sentiment, shifting from one extreme to the other. Now that the market has reached this stage, there is no need to be overly optimistic, nor is there any reason to be pessimistic.