In the past 24 hours, the market has liquidated 120,609 positions, with $551 million gone up in smoke. Volatility remains intense, bears are still dominant, constantly testing new lows. Taking advantage of the dampened bullish morale, the current market still says: spot positions must be entered! Yesterday, the 3-layer spot entry points for BTC at 62,000 and ETH at 1,650 were hit multiple times. Going forward, if given the chance, add to positions; if not, just hold onto the spot positions already entered.

In the early morning, the market did not hit a new low—opened low, traded flat, and consolidated on shrinking volume. The market is getting a brief breather! Continue to execute position management and maintain patience.

BTC
Support: 59,800 Resistance: 67,135

The current trend is bearish, with intraday consolidation on low volume. Although volume is not large, the market is saturated with bearish sentiment. Medium- to long-term bearish selling pressure remains unabated, especially in the altcoin market, which has completely degenerated into a vicious cycle of reckless selling with no bottom line and no future. This severely damages the market's willingness to retain capital and retail participation. When a financial market lacks sustained profitable sectors and rotating targets, even a fool knows that capital will stay away. Therefore, I must emphasize again: focus on high-quality assets. Do not let your guard down for a fleeting one-in-a-million dream of getting rich overnight and allow altcoins to drain your liquidity.

Within the day, continue to monitor the price-volume relationship at 62,000 and below.

ETH
Support: 1,550 / 1,385 Resistance: 2,000

If given the chance, boldly enter spot positions. If you don't enter now, don't complain later when it reaches 2,000 that you have nothing to sell.

XAU (Gold) continues to break down, heading toward the 4,000 mark. If it cannot hold, there is room for several hundred dollars below. Therefore, every time gold breaks a support level, you should reduce positions, not add, because the right-side trend currently shows no signal.

Last night, U.S. stocks saw a sharp drop in leading stocks like SNDK, MU, SPCX, with losses much greater than Bitcoin. That's the nature of U.S. stocks—when they fall, they fall mercilessly; when they rise, they rise without restraint. So U.S. stocks offer the most opportunities, but without proper position management and stop-loss/take-profit, the risks are also huge.

The operational suggestions do not constitute any investment advice: The recent market is either on the road to stop-loss or on the road to stop-loss again. The market changes three times a day—it's no exaggeration—and liquidity is extremely scarce. Now, there is basically a global consensus: holding cash is more important than anything else. In these turbulent times, energy crises, surging inflation, and interest rate hikes are always around the corner. All of these increase the cost of living, and we have to prepare for the worst. Spot, spot: Apart from funds needed for living expenses, work, family, education, and medical care over the next three years, now is the time to start building spot positions. Remember my advice: prioritize BTC/ETH, not another pile of altcoins.