The market may be turning around at 8:30 AM. After so many days of volatility, the time has come. Of course, I remain bearish on the overall market and expect a correction. In fact, before Powell's words, I already predicted that Bitcoin and ETH would likely reach $100,000 and $4,000, respectively. It's only Powell's words that delayed this trend, as shown in the chart below: BTC faces short-term resistance at $112,900, with support at $107,000 and $105,500; ETH faces short-term resistance at $4,480 and $4,520, with support at $4,200 and $4,100. If it falls below $100,000, BTC will first have to see if it can hold above $98,000, and ETH will have to see if it can hold above $3,880! As long as they hold, the bull market remains, and both present opportunities to get on board! Some may ask: Isn't this market manipulation giving retail investors money by driving the price down like this? You're mistaken. Market manipulation is least afraid of you buying at the bottom, nor are they afraid of you making a temporary profit. I was chatting with an industry expert today about this issue, and one of his points perfectly addresses it: What market makers fear most isn't that retail investors make money, but that you won't enter the market! Once you enter, you've been trapped in a sheep pen, and the market makers have a thousand ways to harvest you! So, market makers manipulate the market downturn to encourage you to buy at the bottom, allowing you to temporarily profit. But then, your greed won't allow you to lock in your gains, but instead you'll increase your investment. That's when the market makers reap the rewards! Who among the experienced investors who have experienced a bull and bear market hasn't made money? I once made a profit on A7 in a single month, then lost it all on a 5.19 rally, mismanaged trading, and lost everything! So, in this industry, learning to stop when you're ahead and lock in your profits is always crucial. It's also the final step for investors to become skilled traders.
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