Tracking real-time hotspots in the crypto world and seizing the best trading opportunities. Today is Wednesday, December 4, 2024. I am Wang Yibo! Good morning, crypto friends! Loyal fans check in 👍 Like to make big profits 🍗🍗🌹🌹
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A heavy news announcement late at night stirred up a storm in the South Korean crypto market—South Korean President issued an emergency martial law order. As soon as this news came out, the crypto market instantly fell into a panic of collective plummeting. Last night, influenced by this sudden news, it experienced a roller coaster market, and now the overall market is rebounding. Bitcoin fell to a low of 93625 USD, currently reported at 96100 USD, while Ethereum is currently reported at 3628 USD. Overnight, U.S. stocks closed mixed, with the Dow Jones down 0.17%, the Nasdaq up 0.40%, and the S&P 500 up 0.05%. The Nasdaq and S&P 500 continue to set new closing highs. Gold stocks rose broadly, and JPMorgan expects gold prices to rise to 3000 USD/ounce next year. Additionally, the employment report for November will be released on Friday, and investors should pay attention to the growth rate over the past two months, especially considering the risk of significant revisions in the October data. This could potentially impact the Federal Reserve's monetary policy and sentiment!
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A slight downward trend in the short term has already entered a rebound recovery trend. Do not easily consider that a short-term pullback during the trend consolidation phase means a trend reversal. The general direction remains bullish; it is just a matter of a consolidation period. As long as there is no economic recession or black swan events, the fourth quarter of 2024 should be the most stable. Then, from Christmas to January 20, there might be some fluctuations, and after the inauguration on January 20, another wave of good news is likely to come. Moreover, from a historical cycle perspective, there is usually a steady upward trend starting about half a year after a significant drop and halving. However, it does not mean that a bull market will guarantee profits. Why? Everyone's approach and understanding are different, and more institutional forces will continuously enter the market in the future, so small retail investors may face more challenges. Overall, the risk before the second quarter of 2025 is relatively low, and the focus should still be on the U.S. monetary policy. Will the Federal Reserve continue to lower interest rates? How will the unemployment rate trend? Whether inflation will fluctuate is also a key focus.
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Bitcoin dipped and then rebounded yesterday, completing a large V reversal. Currently, it is stabilizing upwards, and the short-term is expected to continue with bullish momentum. This is the current market situation; consolidation is the norm, but as long as the direction is clear, it is very obvious. Continuing the downward trend last evening, after hitting a low of around 93620, the bulls formed a震荡 recovery, looking back step by step, peaking at over 96000 in the early morning. After the night's plunge, the bulls quickly provided recovery space, and now, after warming up, it is once again in a consolidation pattern. All recent rebounds have been accompanied by pullbacks or pin bars. Correction is a process of accumulating energy. After effectively building a new support platform, a new upward movement can be initiated. All current consolidation actions are horizontally moving within the defined range, using time to exchange for space to accumulate energy for upward movement. The next step is to suggest maintaining a buying posture on pullbacks for short-term layout!
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Ethereum's performance during the day has also been relatively active, rebounding from a low of 3557, rising to an evening high of 3673, and then facing pressure to pull back. Influenced by news, it dropped to a low of 3504 in the evening before starting to rebound. The local breakout signals and the accompanying selling pressure are more significant compared to yesterday. This indicates that the market may face some downward pressure in the short term. Subsequently, bulls regained some ground and have now returned to the previous range of fluctuations. On the four-hour chart, a long lower shadow hammer line has formed, signaling the start of a bullish counterattack. The hourly trend is also continuously contracting, and currently, the bearish momentum is weak, so the market will continue to focus on pullbacks.
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In this market, it ultimately relies on ability. If you lack ability, one day the market will make you pay back what you gained. Therefore, when your wealth exceeds your ability, you need to control your drawdown, although this control may be in vain, because that kind of arrogance and hubris from profits will eventually destroy a person's rationality. However, we do not have to worry about our wealth being less than our ability in the capital market, because this imbalance will ultimately be corrected by time. If it has not been corrected, there is only one reason: your ability is insufficient. If you are still in a state of confusion, not understanding techniques, unable to read the market, not knowing when to enter, not knowing when to stop loss, not knowing when to take profit, randomly increasing positions, getting stuck by bottom hunting, unable to hold profits through ups and downs, and missing market opportunities when they arise. These are common problems among retail investors. However, it doesn't matter; come find me, and I will guide you to think correctly about trading. A single profitable trade is worth more than a thousand words. Instead of repeatedly losing, come find Yibo! Frequent operations are not as good as precise trades; make every trade valuable. What you need to do is find Yibo, and what we need to do is prove that our words are not empty. 24-hour real-time guidance; market fluctuations are relatively fast. Due to the effectiveness of the review, the subsequent market trends will mainly rely on real-time adjustments. Friends in need of contract guidance can scan the QR code at the bottom of the article to add my public account.
