In the past two days, the market has been running up and down. Both BTC and the entire market need to be extra cautious. Judging from the current market correction, it did not continue to fall, but fluctuated sideways around 62,000.

After looking at the data, the liquidation intensity seems to have been brewing in place! Pay attention to those who are long! .

When it rises to around 63,500, short orders worth 1.248 billion USD will be liquidated. When it falls to around 60,000, long orders worth 3.778 billion USD will be liquidated. Currently, the price of Bitcoin is fluctuating sideways around 62,206. The dealer will not pull it up to give long orders a chance to run, so the price has not been able to go up. Be prepared for the risk.

According to the pattern of the day before yesterday, it should have been pulled up directly. The capital institutions of the market makers do not seem to want the market to take off immediately. Considering the issue of capital utilization, the funds are currently being sucked by the A-share market. The Chinese government's press conference has also been positive, and will further strengthen support for the stock market. From the strategic level of a major country, the stock market is a position that cannot fail under this policy pull.

Today's market analysis: BTC reached the relatively strong support of 60,500 in 4 hours. 60,500 can be used as the boundary between long and short positions during the day. If it falls further, it will go directly to around 57,000. If the support is in place, it can continue to rebound upward to around 62,500.

In addition, there is a CPI data today, which will bring fluctuations to the market, so those who have opened contracts should pay attention. CPI lower than expected is a positive, while unemployment benefits lower than expected is a negative.

The trend of BTC in the past two weeks has been too weak. Without external stimulation, the market has basically fluctuated in a small range. This also shows that market traders are in a confused state at the current stage. If this state continues, the confidence of bulls will inevitably be greatly damaged. To quote many friends, it is the most frustrating stage when the price cannot rise or fall.

At present, let me see that this is the sequelae of the inadequate correction before the forced stimulus last week. In addition, BTC began to decouple from the US stock market in the first few days of this week, which made the market lose its reference "anchor" again. It is quite troublesome. There is no solution at present. Waiting is the best way. There are two opportunities. Either the technical breakthrough/breakdown today, or the CPI stimulus tonight will lead to a short-term small trend.

However, Xianxian has another guess. This time, the main force will not take the lead in pulling up Bitcoin, where long positions are concentrated. Instead, it will use Ethereum, which has been unpopular in the long term, as a breakthrough point for the market, leading a group of copycats to rush upward, create a money-making effect, and attract liquidity. Coupled with the Ethereum upgrade narrative at the end of the year, the actual market also gives me the feeling that Ethereum is stronger. This is the script in my mind, and everyone can just laugh it off.

Future strategies

(If a decline is the premise, it will be activated)

first step:

The weekly line needs to break (break below BBI), and the daily line also needs to break (break below MA120)

Once the first step is completed, the signs of a downward trend will emerge;

Step 2:

Bottom warehouse problem:

1. If there is a slight decline, do not make a move; wait for a definite market to appear next week;

2. If a big negative line appears directly this week, I will go short and build a bottom position on the same day;

Step 3:

Adding to main positions:

This week, we will first look at the closing line. If it is a negative line, we will see whether it can continue to be negative next week. If it is a small negative line, we will add half of the short position. If it is a big negative line, we will go all in directly.

Step 4:

Regarding the issue of rolling warehouse:

If the downward trend is established, the subsequent pullback will be at most near the BBI of the weekly line, so the point of floating profit plus short is the BBI of the weekly line.

Which targets can be purchased?

MEW: The market is controlled by a strong market maker. You can slowly build a position at this position.

Neiro: DWF makes the market, BN will use it to continuously build momentum, and you can buy in when the market plummets.

Poeple: Regarding the US election concept, there may be another wave, and you can buy some on dips.

Pie: There is continued inflow into ETFs.

BNB, currently 572,544 reminds you to buy at the bottom.

FTM, the project team is strong, the target is $0.9.

CHR, long-term goal is $1, various ecosystems are under development, focusing on the game public chain, benchmarking IMX.

STX, Nakamoto upgrade has not been completed yet, continue to hold, the target is $3.

Klay and Astr, Korean and Japanese national chains.

Although the market is bad, I am still optimistic about the future!

In general, although the crypto market faces short-term fluctuations, the overall outlook for the market remains optimistic in the medium and long term. We can expect that the current adjustment is more of a market clean-up, with the goal of clearing short-term speculative funds and accumulating strength for the next round of increases.

The capital market is essentially a battlefield for the game of human nature, and the crypto market is the ultimate manifestation of this game. With the gradual recovery of the global economy and the further easing of monetary policy, there is still huge room for the incremental funds in the crypto market to develop. For those investors who can hold on patiently, the arrival of the future bull market is worth looking forward to.

Therefore, the current market adjustment does not mean a change in the long-term trend, and investors do not need to be too pessimistic. On the contrary, this may be a new layout opportunity to prepare for future increases. I believe that after the storm, the crypto market will eventually usher in a new bull market.