20 minutes until the US stock market opens⚠️
Today's fluctuations in the US stock market will directly determine whether the cryptocurrency market will start to pull back. On the daily chart, after the US stock market hit a new historical high for three consecutive days, it has declined for five days‼️
It can be seen that on the first day the US stock market hit a historical high, it drove Bitcoin to reach its current historical high near 93,000. However, in the following four days of new highs in the US stock market, Bitcoin was unable to push higher, indicating a low market liquidity.
If tonight, the US stock market continues the downward trend of the previous week, it is only logical that Bitcoin will follow and decline📉
If the US stock market rebounds today after experiencing five days of decline, then Bitcoin will likely attempt to touch the 93,000 level again, or slightly break through 93,000, creating a false breakout.
My advice to everyone is to treat this as a risk event, manage your risk well, do not chase high prices, but also do not recommend panicking and directly shorting without any position🙏