Bitcoin has plummeted, hitting a new low of 92500. Have the bulls cleaned up?

The Federal Reserve may delay interest rate cuts, exacerbating market expectations, with the dollar index expected to break through 110. In the short term, focus on Friday's non-farm data.

Whether it’s the stimulus from news or the sharp decline in coin prices, this wave of selling has caught me off guard. The longs that entered around 100700 were perfectly hit. Looking at the recent market, technical analysis was ultimately swallowed by the news. The drop from 102700 to 92500, a decline of ten thousand points, happened in just two days. At this time, do retail investors still hold their chips? The whale pushes up for a wave, cleans up, and runs away, leaving retail investors feeling aggrieved. At this time, it is crucial to remain calm and not chase highs or panic sell; keep the green mountains, and you won’t fear running out of firewood!

Currently, the four-hour chart shows another strong bullish candle. Even though it fell from 96500 to the lowest around 92500, the bulls can still pull back strongly. This is the resilience of the bulls, and it's a bullish engulfing pattern. The previous K-line is standing firmly on the moving average, rising while stepping on the moving average, and the K-line has a lower shadow. This is a strong bullish formation, with the peaks of the moving averages continuously hitting new highs. There’s only higher, not the highest. The support level is once again solidified and effective, and all strategies should be based on real market conditions!

For Bitcoin, enter longs in the 93500-93800 range, and add to your position when it retraces to 92500. Watch for a breakthrough at 96500 to continue looking towards 97500, with a stop loss at 92200.

For Ethereum, enter longs in the 3260-3280 range, and if it breaks above 3450, watch for 3500-3550.

Focus on the 90 trading system, regardless of bullish or bearish, ensure proper risk control! $BTC