I have been warning of a big correction before.

As far as the current situation is concerned, the price of Bitcoin has fallen by about 15%, which seems to be a lot, but compared with the previous bull market, the correction ratio was 25% to 35% or more, it has not reached the expected target.

A few days ago, Bitcoin pulled back to 92232 and then rebounded to 99525, causing the current market sentiment to recover from extreme bullishness to a balanced state near 54.

The main basis for the bullish sentiment in the market now is that many cottages have returned to the vicinity of historical lows. Bitcoin has seen a rebound again, and it can be clearly seen that the current high point cannot support the highest point of the instinctive bull market.

The basis for the bearish sentiment in the market is that the correction ratio compared with the previous bull market is not in place as mentioned by Lao Teng above.

The advice I gave to brothers some time ago was that retail investors should not cut their losses easily, and keep calm and watch for movement. It remains unchanged now.

At present, it is still the air force camp, but it is precisely because many cottages in the market are at the bottom, and continuous cutting of losses will only make us lose chips.

Continue to wait, mainly defensive, and brothers with short positions can enter some strong hot cottages with their first positions. If you have a heavy position, don't change it at will. Wait for the right time.