CRYPTO MARKET ALERT

If $BTC and $ETH drop below $57,000, even a double bottom pattern won't be enough to save them. The German and American governments, along with Mentougou, are selling their holdings in the spot market, putting immense downward pressure on prices. Despite buying contracts at these low levels, it won't offset the selling pressure; instead, it will add liquidity for further declines.

However, there's hope for a weekend reprieve as the German government's selling pressure subsides, potentially creating a trading opportunity. But beware, the market might shift to speculative plays on distressed assets, driven by desperation. Confidence is hanging by a thread.

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