Market summary:
Tonight, a set of data was released, with mixed results. The hawkish speech by the Fed officials caused the Bitcoin market to drop by more than 2,000 points. What does this mean?
In fact, through this point, we can basically judge that the recent market sentiment is still not good enough, and traders are still nervous, which leads to a slower rise and faster fall under nervousness. Because of the nervousness, a negative sentiment directly leads to collective selling.
In terms of data, we also see in today's data statistics that although the market value and trading volume were good at the time, the market has fallen now, and the market value is estimated to have shrunk overall. The most troublesome thing is funds. Asian funds and American funds are collectively outflowing. Although the short-term outflow will not have much impact, there is still sufficient funds of 160.8 billion in the market, but the cessation of inflow of off-site funds turns to outflow, which actually means that the subsequent market funds and traders are not optimistic about the current market in the short term.
We have been saying these days that any short-term rebound and breakthrough of venture capital after a decline does not rely on a short-term outbreak, but more on a short-term outbreak to break through a key position, and requires subsequent strength and emotions to stabilize the price at certain positions, forming shocks, turnover, or repairing the technical trend. Otherwise, the short-term outbreak will go up quickly because the emotions will also go down quickly. Therefore, the outflow of funds also proves the real emotions of traders, which is more accurate than any panic index or greed index.
Tonight's contract market may be a bit bloody. At this time, don't talk about technical longs and shorts, what technical signals to short and how much to earn. At this stage, the support that the technical side can provide has weakened, not to mention the long and short signals given. Your technical side is confident that you are going long, and a bad news will still cause a drop. Therefore, it is recommended to be cautious about tonight's contracts.
As for the altcoin, as long as there is no hawkishness in the early morning, or Bitcoin stabilizes above 60,000 during US trading hours after the US stock market closes in the early morning, the altcoin driven by this wave of decline will definitely rebound. Recently, the altcoin is still relatively resistant to declines. After all, the previous decline was too bad.If the copycat rebounds over the weekend, I suggest you control and sort out your positions, don't be too heavy, and don't buy blindly because you think there will be a market over the weekend, be careful that it is just a flash in the pan over the weekend.
