Someone asked what to do now. I actually talked about it during the livestream, but let me explain again. 1. Bull markets often come with sharp drops. The main goal of this wave is definitely to clear leveraged long positions, especially for altcoins. Everyone knows weekends are altcoin season, and there are too many people chasing longs. First, they pump to lure you in, then clear the leverage. To put it bluntly, my view is that altcoins are all bubbles. Market makers are just taking advantage of the trend to pump prices, so it’s normal for them to follow up with a wave of harvesting. That’s why you must set tight stop-losses for altcoins. 2. Looking at the majors like $BTC and $ETH, these two haven’t dropped much. The wick is just a retracement to the order block (OB), as shown in the example below with $ETH. However, this is the first wick retracement after three days of strong gains. Even if the wick gets recovered, it still signals the end of this kind of strong rally and the start of consolidation. But if it breaks below this OB, then on the hourly chart, the market structure breaks (MSB). Watch out for the short-term uptrend ending, and there might be further retracement. 3. So here’s my view: 1) If $ETH and $BTC consolidate and absorb liquidity at this OB, then I’ll continue to be bullish. You can also try trading altcoins corresponding to this OB level. 2) If prices break out directly and hit new highs, then it’s just a leverage wipeout. That would still indicate a strong bullish trend, and you can continue chasing longs after the breakout.