The Mingge team held a collective meeting today and decided to stop for a day. They reflected on the 45% loss from yesterday, so they did not come up with a strategy today. Unexpectedly, there was another sharp drop in the early morning. Currently, BTC is around 59K, and it has fallen from 71K to 59K in two days. Nearly 12,000 points. ETH followed the market from 3500 points to the current lowest of around 2800 points, and also fell by nearly 700 points. It was so scary. Even the Golden Shovel BNB fell by 20% from 630 on the 12th.

The two waves of decline in the past two days both occurred in the early morning, which can be said to have basically wiped out all the bulls. It was too cruel. If you didn’t set a stop loss for your long positions, your losses would basically have exploded.

Today, Brother Ming also posted a message saying that you must set a stop loss when opening a contract and you must respect the market. Unexpectedly, there was another spike in the early morning. With this kind of spike, even if you stare at the screen and want to recharge the margin, it may be too late.

I cannot judge whether this kind of market that breaks through long orders is a preparation for a new high, but I am more inclined to believe that it is doing so to pave the way for a new high. After all, with fewer longs, it is much easier for institutions to push up the market. Just like the previous 50K to 60K, it took basically two days. Most people did not participate in the 10,000-point rise before it was completed.

But what we are most afraid of now is the third wave of decline, all the way down to 52K. Because the halving is imminent, it is reasonable for institutions to suppress the price of coins and stop miners in order to regain the right to speak from miners. So before the BTC halving, our team may need to consider whether to open a contract order. Because in addition to contracts, we have also been doing spot transactions.

Brother Ming also reminds everyone that it is best to wait and see before the halving, the risk is too great!!!

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