Good afternoon everyone, I am trader - Mi Hu

The market has entered a correction, but currently Bitcoin $BTC is still in a bullish trend. In contrast, the altcoin Ethereum $ETH is showing a downward trend structurally, so the altcoins have started to collectively collapse in the past few days. However, since the bullish trend of Bitcoin is still ongoing, the focus remains on the bulls. Especially since the weekend is approaching, if Bitcoin does not drop below 85000 and consolidates over the weekend, altcoins still have a chance.

The US stock market has been correcting since November 11, but the intensity of the correction is not significant. On the contrary, in the crypto circle, taking Bitcoin as an example, it continued to rise from the 11th to the 13th and broke a new high of 93400 on the 13th. This wave of increase starting from 59000 has already risen by 35000 points, and a correction is inevitable, but no one knows where the top is, so the previous constant attempts to reach the top have led to profit taking.

Back to the market, this correction for Bitcoin will at most pull back to 75000, and I think the probability of this is extremely low. From the downward trend of altcoins, if it reaches the 75000 level, the altcoins will basically collapse collectively, more severely than the wave on August 5. My expectation for this correction is around 84500, with a closing above 85000. If it goes a bit deeper to around 80500. In terms of probability, 84500 > 80500 > 75000. So I will likely start building positions at 85000.

In terms of operations:

1. Build positions for Bitcoin at 85100-84100, totaling 20% of the position. For the second coin, observe the correction strength and build positions between 2880-2750, 15% of the position.

2. This time I have planned several limit order points: RATS:0.88; SATS:0.000202; ORDI:33; WIF:3.2; cat:0.04, totaling 20% of the position.

The above is until this week; if the market shows a reversal, I will adjust accordingly.