Today's Yinxian fell below the freezing point, completely shattering the fantasy of the bulls. This is exactly the same as the decline of 48K in 2022. Why do I remember it so clearly? Because I was long on leverage at the time, fantasizing that there would be a small rebound over the weekend, but the two Yinxian fell directly below the support. In the following week, the market fell for five days, and it was not until it fell to 30K that the daily line stopped falling. That was the week with the largest retracement in my life, and I still can't forget it.

Give up the fantasy of long positions, especially those with leverage. There is hope only if there is no explosion. Even if the market rebounds next week, you have to wait until the reversal trend is confirmed before entering the market.

Why are these two Yinxian falling below the support so terrible? There has been a sharp drop for a week in a row. It stands to reason that there should be a low-volume rebound at the support level. The normal situation of the current market is to rebound to around 63K and then continue to fall. However, now it can't even stand at the big support level on the weekend, which shows that the market is really very weak.

This wave of decline should catch many people off guard, including myself. Group friends at the front foot.

Still shouting about breaking new highs and continuing to rush upward, Bitcoin went straight to $52,000, fluctuating like altcoins.

In fact, there will be a big wash before each bull market. What I want to say is that this is a normal phenomenon. Players who have experienced several bull markets should know that every time the Federal Reserve enters a rate cut cycle, the financial market, especially the crypto market, will be affected. The closer to the rate cut, the greater and more intense the market reaction.

#BABYLONG 💎💎💎