The market retreats and deleveraging continues

March 15, 2024 Grandpa clocked inYesterday, the market made a dip. The market fell below the 70,000 mark, and Ether also fell from a low of 4,000 to close to 3,600. Although this wave of decline was not particularly fast, the cumulative amplitude was almost 10 points. It was obvious that it had reached another level. Wave lever. Of course, judging from the liquidation data, the intensity of the liquidation is far worse than last time. The main reason is that the decline is relatively slow, and there is enough time to add margin, so it is not easy for serial liquidations to occur. In addition, from the perspective of demand loan interest, the bullish atmosphere in the entire market is still very strong. It is estimated that many people will increase their positions after this decline.There is generally no big problem in adding positions when prices fall. However, considering that the strength of the pullback this time is relatively mild and has not caused obvious damage to the bulls in the market, I suggest that if it is not a bargaining chip for high-level reduction, do not use it to add positions. If you reduced your holdings at a high level a few days ago, you can make a swing. This drop can be regarded as a accumulation of strength. If it does not continue to plummet in the short term, it will rise again later, and those who do not have a cost advantage should wait patiently. Next, there will be a retracement similar to yesterday's, and there will even be short-term rapid and violent declines like the last time. There will be big buys for big drops, no movement for small drops, or small buys.If current interest rates are not stable enough, then the recent surge in rates is enough to show how crazy the bulls are behind it. It has lasted for nearly three weeks so far. The last time I encountered this situation was on the eve of the last bull market surge, when Ethereum was trading at 400-500 US dollars. In fact, from a rational financial perspective, it is difficult for the market to maintain the continuous operation of high capital costs. After all, the bulls continue to be drained. However, according to historical experience, if the market can successfully survive this moment of high fees, it means that the bulls have very abundant funds. , then the subsequent breakthrough will be a big market trend.Regarding operations specifically, I will continue to be cautious. Regardless of whether there is a big breakthrough in the future, the recent market will definitely be dominated by a retracement or sideways movement. This rapid rise must be digested, otherwise it will be a market peak. Looking at the differences, chips with financial advantages, for example, the currency you opened a position in the bear market has increased five times, you can keep it at this time, because as long as it doubles again, you will have increased 10 times. On the contrary, if you enter the market now, then you can From the perspective of profit-loss ratio, it is really not cost-effective. It is better to take arbitrage with funds first and then wait for a certain opportunity.Thanks for attention.

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