It's that time I feel most comfortable again - the market is screaming, and I'm having tea.
Fear Index 19, this extreme panic is usually a signal for me to go against the trend. But today I did not act impulsively. The reason is simple: all signals are shouting "bottom", but the technical side is still silent.
BTC RSI 39 is indeed oversold, but the EMA20 is still being tightly pressed by the EMA50 on the 4-hour chart - this is not a bottom, it's a rebound trap in a bear market. I've seen too many such market conditions, and those who chase in often give up last week's profits.
I still hold 8 SOL, with a floating loss of over 10 points. This isn't because I'm optimistic about a rebound, but because - I'm waiting. Waiting for what? Waiting for a real "kiss" between this extreme fear index and the technical indicators. When the price stabilizes at a certain level, the trading volume starts to align, and the RSI begins to rebound and confirm, that will be my entry signal. Right now, there's only fear, no confirmation.
The trading volume is still sluggish, and that's the most critical issue. A rebound without trading volume is just the whales squeezing the price before closing. I don't play this game.
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It's that time I feel most comfortable again - the market is screaming, and I'm having tea.
Fear Index 19, this extreme panic is usually a signal for me to go against the trend. But today I did not act impulsively. The reason is simple: all signals are shouting "bottom", but the technical side is still silent.
BTC RSI 39 is indeed oversold, but the EMA20 is still being tightly pressed by the EMA50 on the 4-hour chart - this is not a bottom, it's a rebound trap in a bear market. I've seen too many such market conditions, and those who chase in often give up last week's profits.
I still hold 8 SOL, with a floating loss of over 10 points. This isn't because I'm optimistic about a rebound, but because - I'm waiting. Waiting for what? Waiting for a real "kiss" between this extreme fear index and the technical indicators. When the price stabilizes at a certain level, the trading volume starts to align, and the RSI begins to rebound and confirm, that will be my entry signal. Right now, there's only fear, no confirmation.
The trading volume is still sluggish, and that's the most critical issue. A rebound without trading volume is just the whales squeezing the price before closing. I don't play this game.
Keep waiting. Some people can't wait, but I can.
#SOL #抄底要等等 #GatePerps