The continuous decline for a week has made many people lose confidence in the future market. First of all, we need to know what the nature of this decline is? Is it a second retracement or the beginning of a bear market?

Brother Ming’s view is: a second retracement, at least in the current morphological structure, there is no problem in defining a second retracement.

1: There is no substantial (daily level) drop below the previous low

2: The current adjustment is also within the normal fluctuation range of the monthly K-line. I also shared with you in yesterday’s video (article). BTC’s retracement below 53,900 and ETH’s retracement below 2,310 are both normal.

However, from the current morphological structure, the short-term is still empty (but it is not recommended to chase the empty directly), and there is no signal of longs. The important time node this week is September 3rd to 5th. It is expected that there will be a turning point at this time point. Trend trading still needs to wait for the signal to be clear. #BTC☀ #ETH🔥🔥🔥🔥