Midnight View 😊
Everything is fake; only after truly breaking out of the trend can we confirm the market. This is a classic case of a double explosion in both long and short positions, with a return to a monkey market in the short term. The large currency has formed a significant M pattern in 19 hours, emphasizing the need for a complete market, complete trend, and complete structure in December. Since the market structure has already emerged, the current phase represents the true structure, and the market will choose a direction after this moment.
The evening sees intense tug-of-war between long and short positions, and the market has shown us what it means to have a sudden one-sided turn; a reversal also happens in an instant. One must not be careless, as one believes that the daily line cannot confirm the short-term trend until it closes. We need to observe the 4-hour naked K pattern after the US stock market closes at 4 o'clock to make a judgment.
If it continues to break below the support around 947 at midnight, then there is a high probability that the market intends to reach 90. This second bottom test is not like today's move where it dropped 3000 points; on the contrary, the pullback has accelerated, and the risk of a direct drop below 917 during the oscillation is too great. Conversely, if it does not close below 947, I believe the large currency will still be choosing between oscillating within a range and a slow rise.
On the Ethereum side, the 3700-3730 range has not been broken through and is still undergoing adjustments and technical repairs at the lower end.
