BTC first starts with a longer time zone. This wave is matched with traditional financial non-agricultural data, the Sam Rule, worries about recession, and Japan’s interest rate hikes, triggering a crash in the Asian stock market and washing the market. However, this wave of cryptocurrency markets also collapsed, which is similar to the previous one. Before the start of the bull market, the US stock market triggered a meltdown in March 2020 and triggered the 312 crash. They are very similar in meaning. They are both complete washouts before the start of the bull market.
Of course, this incident is completely different from the background of the previous 312 epidemic. The trend of extreme panic triggered by a very small probability in an instant is indeed unpredictable for me. From the perspective of the macro cycle, this wave has indeed fallen below the BTC ETF effect in October. The upward trend channel, clean up all the positions entered by ETF! Basically, the upward trend channel of the big cycle is on the lower track, and it is still within the rising channel in the big cycle!
