Let's do a short review at a small level. After yesterday's small-level false break below the double-headed pin low, Bitcoin quickly recovered and today broke through the short-term downward trend line (blue). It is currently blocked in the 27,500 area and is falling back, but it has not shown a relatively depressed state, and the market has begun to see a sharp increase in short-term positions. In view of this situation, there should be a high point of 27,700 or 28,100.
However, the US stock market has shown the false breakout pattern that we were worried about before, which is a bit contradictory. It once stood back above the previous high at the opening yesterday, but failed to stand firm at the closing, and continued to fall tonight. In addition, there was a change in the market framework at a small level (LH, LL), which is quite worrying. If ES cannot stand back above 4185 by 4 a.m., then the long orders in hand may have to avoid potential risks first. Once ES confirms a false breakout, the possibility of the big cake going up alone will be greatly reduced. DXY also stood back above the previous high of 103.3, which is not conducive to risky assets. It seems that before the debt ceiling event is fully implemented, the suppression of all parties in the market is still relatively evenly matched. Watching the game at this time may be a good choice.
