Will it continue to decline next?
Since the market reached 90,000, it has already experienced three rapid declines, and today's event counts as the fourth!!!
It can be said that the previous three rapid declines consumed a large amount of buying power, so after this rapid decline, there isn't much buying power observed on the market, but rather a gradual decline after consolidation, which is equivalent to burying the funds that tried to buy the dip again.
ETF continues to see inflows, and the market is expected to consolidate around 100,000.
In the long term, it should continue to rise; sustained declines also lack volume.
This can be seen as continued consolidation within this range; all upward movements must solidify before moving to the next step.
A strategy of buying more during large declines, buying less during small declines, and not buying when it doesn’t decline can be used to gradually pick up low-priced chips.
The current market situation is that Bitcoin and Ethereum have support from spot ETFs and traditional large capital, resulting in significant buying power below.
Therefore, the reason for this rapid decline cannot be too great, primarily stemming from a series of comments made by Powell early in the morning. It seems he is about to step down, but insists on causing a stir... ultimately, we are the ones who suffer.
Powell's statement about slowing down the pace of interest rate cuts means that our accounts are the ones bearing the cost!!!
This statement also implies that at the next FOMC meeting, the Federal Reserve may not choose to cut interest rates.
Moreover, throughout the interest rate cut cycle next year, it will also slow down, which is bearish.
Wait for opportunities; the opportunity last month was captured, so be a bit more patient this time.
Altcoins to watch: pepe, sui, apt
What positions can be used for bottom fishing next? King will continue to lead the fans together; last month, at least five doubled positions that were ambushed have already profited and exited.
For those who have a fear of choice and don’t know how to choose, comment 111 to follow 🚀
