Afternoon thoughts:

During the early trading yesterday, the market was volatile and the fluctuations were relatively gentle. It was not until the opening of the US trading that significant trends appeared. After the U.S. market opened, the market took a turn for the worse and started a sharp downward trend. As of early this morning, the cumulative drop from the highest price point during the day had exceeded 7,000 points.

At present, the rebound trend of the overall market is getting weaker and weaker. The main root cause is the continued outflow of market funds. There is also no major good news at the macroeconomic level to boost it. At the same time, the short-selling intention of the main funds is quite obvious. From the perspective of technical analysis, the large negative line entity completely covers the positive line entity, and exerts strong force from above the moving average, going straight downward to break through the key support line, fully demonstrating the strength of the short position. Looking back at the historical market trend, this position has played a key support role many times. Whenever it touches this area before, the market will rebound to varying degrees, so it is expected that there will be a certain degree of rebound here. However, the daily level has fallen below multiple moving average support levels in a row, which clearly shows that the market as a whole is in a bear-dominated trend. Under this situation, if you try to do a long transaction, the risk factor is extremely high. Not only will you have to withstand the upper pressure from the moving average system, but you will also be very likely to suffer further violent pressure from the short forces.

Operation strategy:

Wait for BTC to rebound to 96500-97000🈳,

See below and follow: 95000-93000