Let's talk about the situation of the crypto market in the past few days
Bitcoin has been fluctuating, and there has been no second test, so it is not a bullish rebound
BTC upper pressure level 64200
SOL upper pressure level 172
This morning, Bitcoin touched 62700 and fell back
The short-selling is over
There is no second test, so there is no need to rush to cover the position
I don't know where the rise will go. According to the wave theory, there is no "second test" above $3,500, and the rise will not be too high.
I can only wait for the next correction before covering the position
Today's 7,000-point surge has two reasons
1. The number of initial unemployment claims for the week last night has begun to decline
2. Russian President Putin signed a law legalizing cryptocurrency mining in Russia. It is a big positive
Summary:
A small initial jobless claim can have such a strong pull. A point of view: Oversold on Monday...
Mining is legalized in many places, including Russia, and the government endorses. Many people expect China to allow mining. I think it will be soon. The left-wing manipulation of the epidemic almost destroyed the entire country. Fortunately, the foundation is strong, and the economy has to rely on private enterprises and free economy. But in this market, in China, it is also possible for state-owned enterprises to enter the market. Maybe next year, we can see that state-owned enterprises with Chinese characteristics are participating in mining "free property" - Bitcoin!
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