After Bitcoin surged to around 91,800 yesterday, it now fell back to a minimum of 86,700, falling 5,000 points again. After Ethereum peaked at 3,242, it fell back to 3,020, falling 220 points. The market entered an adjustment phase. In the past 24 hours, more than 170,000 people were liquidated for more than 500 million US dollars. The bulls lost more than 300 million US dollars again. In addition, more than 500 million a day in the past two days, it was a complete Bitcoin bull market. The large amount of liquidation of the bulls reflected the overheated growth of market sentiment. Appropriate callbacks and washes are also normal.
Many cottages have basically returned to the previous starting point in this wave. Perhaps this is the coexistence of risks and benefits. If you want to get a long-term return of ten times or even a hundred times that of cottages in the future, you need to endure countless retracements!
It is too early to say that the top has appeared. The development of the market is not completed in one day. It takes at least three months for the top of each stage to form. Last year's rise started in October and ended in March. The expected hype of the big cake ETF is the first stage of the market. After passing, there will be a big correction, and this wave of big correction is expected to occur after Trump takes office. So I personally expect that the staged top of the first wave of speculation will occur around mid-January! After the retracement, there will be a more crazy rise, so don't waste the initial stage of the bull market. The retracement gives you the opportunity to get on the train!
Ether pays attention to the bottom-picking opportunities in the range of 2800~3000, and big cake pays attention to the support near 85000! It also takes time for the main shipment to be completed, so the market will not end so soon, just boldly take the retracement!
