This wave of Bitcoin's decline was planned!
Why do we say so? Let's take a look at these two things to understand:
1. Market FUD $wbtc: Since the 11th, the market has frequently pushed news about wbtc, trying to cause panic. However, retail investors reacted indifferently, and the expected panic reaction did not appear, so the story naturally ended.
2. Mentougou transfer FUD: The subsequent Mentougou transfer hype tried to create FUD again, but the market remained unmoved and it was declared a failure.
For the banker, it is necessary to carry out a downward plunge at this time. Clearing the leverage is only a superficial phenomenon, and the real purpose is to test the market reaction. Without testing, it is impossible to promote institutional market.
It also shows that the wave of selling on the 5th did indeed clear out a lot of retail investors, and the remaining investors have already laid down and are determined. If the CPI was flat or higher than expected the night before, it is estimated that the market crash would have started.
Hold on to your chips and don't get washed out
The market continued to rise last night, and the bears were panicked. They finally faced the flood in the early morning. The daily level rushed up and smashed the market to close the negative line. The overall center of gravity of the K-line remained downward. The intraday view is mainly to continue to be bearish on the rebound. From the 4-hour line, the upper pressure node is around 58,000, and the moving average extends downward to around 58,000. The second pressure level refers to the pressure around the 14-day moving average of the daily line at 58,550. In terms of operation, you can look bearish around the two upper pressure levels. The lower target for the day is around 55,000, and the short-term target is around 51,500.
BTC's funding rate has turned negative, and a lot of shorts have accumulated. This is the fuel for the next surge. The rise has just begun. Hold on to your chips and wait for takeoff.
ETH's current daily chart has shown four consecutive negative lines, and the K-line has been moving downward along the 14-day moving average. It has now fallen below the 7-day moving average. The intraday market continues to be dominated by a rebound and bearish outlook.
In terms of copycats, we focus on copycat short orders that had higher rebound potential in the previous period.
In the previous bull market, all you had to do was buy the right coins and hold them steady.
But now it’s different. The funds flow very fast. Especially when playing with altcoins, you have to learn to make a move at the right time and put the money you earn into your pocket.
Sometimes, selling too early may cause you to miss the subsequent wave of growth, but it is better than getting nothing in the end.
Don't lose the money you have worked hard to earn just for that little bit of "pattern".
