No hindsight, advance warning that funds need to hedge, the market has been declining for three consecutive days. The 4-hour level retracement is highly likely to turn into a daily level decline. This time, the retracement logic is bearish from both macro and technical perspectives, and the downward pressure has not been completely released. This time, we'll see how much negative news can bring, with larger issues still on the way. The targets remain 64550 and 62450.

Once again, I remind you that funds should be prepared for risk aversion! The BRICS meeting on the 22nd will be held two days later. 33 countries will participate in this meeting. The focus of this meeting is to develop an independent payment system. Although there is still a long way to go to de-dollarization, de-dollarization is the general trend. Whether this meeting can promote the implementation of actual policies or applications will be a major decision that affects the capital market. Moreover, the Nasdaq index has now reached its previous high position and is under pressure. Market sentiment has become more fragile. Once the US stock market collapses, Bitcoin will definitely fall in the short term. So Lao Bai reminds you twice that funds need to be hedged! Bitcoin is now consolidating at a high level with a potential four-hour level correction. This is also an unstable signal. It is no longer recommended to go long or bullish. Once the downward trend is formed, it will trigger a large correction at the daily level to 64,500 and 62,000 support. The current position is the last spot profit reduction position I told you last week. In any case, the profit must be out. It is the best choice to lock in the bag. Even if the market has room for upward movement, leaving room is always the safest choice!