Yesterday, BTC daily line fell below the key support of 56500 and tested 55600. This market gives people the feeling that it is falling most of the time, but it suddenly pulls back with a positive line or a long lower shadow after not falling much, making short-term traders always feel that there are opportunities to go long, but they keep getting hurt.

So what we are most afraid of now is a slow decline, but an accelerated plunge is not scary.

The best scenario for bulls at the moment is to see an accelerated decline as soon as possible. Perhaps it will be like the previous few times, attracting a large amount of buying because of the low price.

In fact, a lot of short positions have accumulated recently, but they are not being liquidated. We may have to wait a while until the selling pressure of the spot ends. A big positive line may be able to pull it up. Now the market trend is not very clear, so do more right-side transactions.

The ADP employment data released last night did not have much impact. It also went up and down after the release, and then fell again. The market is very difficult. You can wait for a clear upward trend to appear before buying long orders. You can pay attention to the unemployment rate and non-farm payrolls tonight.

Today, when I was checking my updates, I saw Arthur Hayes pop up again and say that the bitcoin price will fall below 50,000. He was referring to KOLs who always lie.

Why do you say that? The following content comes from BitMEX co-founder Arthur Hayes.

Today: Bitcoin is expected to fall below $50,000 this weekend and shorts are being taken.

Two days ago: Will slowly fall towards $50k. I am bearish in the short term but will not sell crypto. My pessimism is temporary.

One week ago: The Fed is about to restart the printing presses and dramatically increase the money supply, which for finite supply assets like Bitcoin will increase their value to the moon!

But he is a trader, so this behavior is very normal. Traders don't make predictions, they just follow. It is normal for them to change their views. His general direction has not changed, he is just bearish in the short term.

We are not traders, we are investors!

Since you have read this far, please follow and like before leaving. I am Qingtian, an old investor who sincerely wishes you to get rich!