The US SEC once again shorted the cryptocurrency market, which was really unexpected! Yesterday's 15-minute big positive line was smashed back to the starting point in an instant, which is heartbreaking!

The situation for altcoins is even worse, with very few people trying to buy at the bottom. The bottom of this shrinking rebound may be broken at any time.

When will these days come to an end? Sustained market conditions are out of reach, the landscape is changing rapidly, and survival in our cryptocurrency world is so difficult!

Nowadays, only experts can make money, while institutions and project owners are making a lot of money. It is really hard for us small investors to make a little money!

The panic index soared to 39 again! The US government is preparing to sell off the 69,370 bitcoins seized from the Silk Road market, and the 15,700 bitcoins related to the PlusToken scam will also be dumped!

The war between Israel and Iran escalated, the Ethereum Foundation sold 100 Ethers again, and Justin Sun also sold 600 Bitcoins, causing market panic! The storm is coming again, and the prospects of the currency circle are worrying!

Bitcoin is struggling to hold at the 60,000 mark. Next, we need to focus on the performance of this support level! Two possible scenarios emerge:

First case:

It received strong support at the 60,000 support level, and the adjustment ended, followed by a takeoff or continued shock, as if it was a re-exploration of the second support level. But it should be noted that the level below 4 hours is still falling, and there is no sign of divergence.

Second case:

Directly break down, or continue to torture, test the 64000 pressure from the 60000 support, and then fall, completing a 1:1 decline starting from 66500.

This trend is very dangerous and may fall to the 57,000 range. If emotions get out of control and negative factors are added, it will easily pierce 57,000 and the market will experience a further collapse! Are you ready for the storm? "

Macro Aspects

The first point to note is:

This is the early morning tweet from the Federal Reserve News Agency:

The second point to pay attention to is: tonight's CPI data:

Since August, the market trend has shown a distinct pattern: the market is always at its lowest point around the 8th of each month!

This time point is usually accompanied by the release of important economic data, and then the market begins to rebound strongly. The last few days of the month often become the peak of the staged market, and then the market continues to decline.

Want to verify this rule? Take a look at the candlestick chart!

Operationally:

Judging from the daily chart, after experiencing a wave of sharp rise, Bitcoin has been consolidating in the range of 52,000 to 70,000 for more than half a year, forming a strong flag-shaped consolidation pattern.

The chip exchange is about to be completed, coupled with the possible continued interest rate cuts, I am looking forward to Bitcoin's next greater increase!

At present, I focus on the band operation of PEPE. Compared with various VC coins, retail investors' trust in VC coins is gradually declining, and I am more optimistic about MEME coins, especially in the bull market, the explosive power of MEME coins is unparalleled.

In terms of liquidity, PEPE is still the strongest performing MEME coin at present. Seizing the opportunity of swing trading will bring considerable profits. Swing trading and main rising waves are the only strategies that I think can really make money in this market.

Relatively speaking, I don’t like intraday and ultra-short-term operations. Although the short-term returns and winning rate are attractive, in the long run, there is a high probability that you will not make money. Steady and steady is the long-term way!

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

Overall, although the crypto market faces short-term volatility, the market outlook remains optimistic in the medium and long term.

I believe that this round of adjustments is more of a market cleansing behavior, aimed at clearing out short-term speculative funds and accumulating strength for the next round of increases!