11.27 Summary of the Second Half
Yesterday in the first half, after being ground down, Yi Cheng retreated while fighting back, believing that the market would definitely recover and there would be a rebound from overselling. Because the entire downturn did not trigger too many shorts, it can be seen that it was a trap to get retail investors to sell their spot positions. In a short time, breaking through two key levels, retail investors would definitely panic, worried about a capital crunch.
However, the whole process of Bitcoin showed a rhythmic tug-of-war downwards, falling for a while and then rebounding for a while, very rhythmic, while Ethereum has already had three major swings, just coordinating with Bitcoin's liquidation. First reaching a high position, the selling pressure made retail investors sell their spot positions, and then after holding, the price was slammed down to force retail investors to give up their chips! The whole outcome is moving towards expectations, but the vast majority of people are already completely irrelevant. If one had observed from beginning to end, they would have understood the whole process.
