Good morning, everyone. I am Mihu.
The market crash started just after I posted the analysis this morning. This is within expectations. On-chain shorts started to increase last Friday. A large number of shorts were placed near 66,000. I thought the market crash would start during the day in the United States, but I didn't expect it to be so fast.
Because it has fallen below the support level near 64,600, we will have to look at the closing of the four-hour level. If it is above 64,600, those who have entered aggressive orders can consider holding it for a while and see how the US stock market opens. If it is below 64,600, consider stop loss. The stop loss level has not been reached yet.
I kept calling for shorts last week, but unfortunately the market sentiment was too high at the time, and calling for shorts was undoubtedly going against the sentiment.
The callback may be a little earlier than I thought, because the Nasdaq and Nikkei both turned down last Friday. It still depends on the closing of the four-hour level. It is best to look at my interpretation last week to get a general understanding.
I have also talked about aggressive orders. You should use small positions, and the medium and long-term trends are the big ones.
Shanzhai will also follow the correction recently, but I have always maintained a bearish attitude and do not short Shanzhai, so I will not recommend it here.
