The price of the currency plummeted, blood flowed everywhere, too many positions were liquidated, and there were still a lot of positions waiting to be liquidated on the Ethereum chain, and the gas fee was extremely high.

BTC also hit a new low today. After four consecutive days of sharp declines, the daily line finally found support at US$53,000 and stopped falling slightly.

Can we buy at the bottom? The answer is still: No

To stop the decline at this position, it must bottom out with a single needle like on July 5th. Today, it must at least rise back to above 57,000, which is too difficult! And the rebound on July 5th was formed quickly because there was no panic at that time. Most people still looked forward to the big bull market, and it was easy to form a joint force when buying orders came out. And this wave of decline can be seen from the slope of the daily K-line. They are all escaping. When there is a rebound, someone will sell out.

Especially last night's drop from 61,000, the main motivation for the short side still came from the stop loss and margin call of the long contracts. These are all passive orders, and the longs holding the spot are still holding on.

As the saying goes, bulls will never die and bears will never stop. The real stop to the decline will have to wait until those holding spot goods start to panic and sell actively, so those who want to buy at the bottom can wait a little longer.

In addition, if it really goes up today, it means that a long lower shadow like that of July 5 will be formed, with a single needle probing the bottom, and a large W double bottom will be formed at the daily level, which means a MACD bottom divergence at the daily level. Technically, it is too perfect, and opening long positions means making money.

Will it? Really?

Anyway, the captain does not believe that such a perfect trading opportunity will appear under this situation, so he can only continue to be bearish and continue to wait. To deeply understand the captain's trading philosophy, you must read the captain's technical analysis articles carefully!

Follow the captain, and the trading signals and information will be output for you! #美联储何时降息？ #美国大选如何影响加密产业？ #中东局势