All friends in the cryptocurrency circle, please note that this wave of market should have a rebound. Friends who don't understand the market can take a look at my views on the market.
Yesterday, Lao Deng said in his post that the general direction is bearish. Yes, the index last night also had a wave of callbacks as I said, and the callback fluctuation was as high as 2,300 points. We are looking at the BTC contract long-short ratio in Figure 2, so we can see at a glance that the bearish trend was formed last night. Now a wave of rise is the key data. If it cannot reach a new high, it will form a step-by-step decline📉. And it will trap a larger part of the longs, not to mention the contracts, so our key position now is to see whether $BTC will break through the new high.
Lao Deng's point of view is that friends who open orders can wait and see whether the bearish trend is formed. The current market is unilateral long or unilateral short. Once the short is formed, it will form a stampede effect and fall very quickly📉.