Good evening, brothers!
In his 1997 letter to shareholders, Buffett dedicated a large section to his views on stock market fluctuations. He introduced a small test: If you need to eat a beef hamburger every day but do not raise cattle yourself, would you prefer the price of beef to rise or fall? If you need to change cars every so often and are not a car manufacturer, would you prefer the price of cars to rise or fall? The answer is obvious.
When it comes to the stock market, if you are playing the role of a "net buyer" over the next five years, would you prefer stock prices to rise or fall? The principle is the same as buying a car or a hamburger; since you are not a business owner or a provider of stocks, but rather a purchaser, it is obviously better if the stock is cheaper. However, it is strange that many investors are ecstatic when stock prices rise and feel downcast when prices fall.
Why is there such a big difference in attitude towards buying stocks compared to buying cars or hamburgers? The reason is that when you buy a car or a hamburger, it is for consumption, not for reselling at a higher price. Feeling happy when stock prices rise and sad when they fall is essentially because, subconsciously, you treat them as trading commodities. If you consider stocks from an investment perspective, your mindset will naturally be very different.
The same goes for the crypto world; changing your mindset can make trading much more comfortable.
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"Crypto Week" boosts market sentiment, Bitcoin hits a new all-time high on Monday.
This week, the U.S. Congress will welcome "Crypto Week," planning to review three key pieces of cryptocurrency legislation, including the CLARITY Act and the GENIUS Act.
Driven by this news, Bitcoin surged on Monday, reaching $123,000 during the day, with an intraday increase of over 4%, setting a new all-time high.
BTC: On the 4-hour chart, the price remains above the upper Bollinger band, with the price trend severely overbought. The short-term strategy is to reduce positions and take profits on spot trades. Contracts are continuously being bought long.
On the daily chart, the price continues to stay above the moving average support, showing a strong price trend.
In summary, the support level is 121,300, and the resistance level is 121,800.
ETH: On the 4-hour chart, the price continues to stay above the upper Bollinger band, showing a strong price trend, with a support level of 3,050 and a resistance level of 3,080.
LTC: The price continues to stay above the middle Bollinger band, showing a strong price trend, with a support level of 96 and a resistance level of 99.
BCH: The price continues to fluctuate near the middle Bollinger band, with a support level of 500 and a resistance level of 530.
That's all for now, good night!
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