11.18 Market Analysis
Since a small-scale gate-drawing wave at 93,000, the spot buying momentum has weakened, and the coinbase premium has also fluctuated less, making it easier to enter a futures-led market and conduct a liquidity-grabbing market trend
Since the strongest momentum market on 11.12 did not continue to rise, it is likely to enter a larger floating range of shocks. In the short term, there will be no other good news or emotional fomo caused by market activities. The potential energy that can push the rise again cannot be used. There is no reason to break through the new high in the short term, but the current market bull trend has not dissipated yet. There is still a huge short liquidation strength near 92,300, and the liquidation strength continues to increase over time. As shown in the figure below, the trend line has been broken and has been changing. There is an old saying that the trend line is used to break through. The trend line is becoming flat. Before there is any major negative news, I don’t think there will be a market that will pull back to 10,000 points on March 6 this year. Often, the CME gap is likely to be filled in the two weeks after it appears. This week, it feels like there is a high probability to fill this gap. The current market is more like a futures-dominated market. In the short term, liquidity is grabbed up and down to make up for the floating supply in the current market, and then the more mentioned shift to range fluctuations. In the short term, if the market does not break below 85,000 and does not break through 93,000, it can be sold high and bought low in the short term. The range still has a 6% fluctuation range, which is also a relatively rich bargaining chip. In the long term The current bottom hard support is 76200. Basically, if the support level at this position can be broken, it basically means that the bull market in a short period of time is over. It needs to consolidate as a whole before the next wave of rise will come. The bull market is far from over. I believe that at least a large number of people are not satisfied with the current status of the bull market. This is just halfway up the mountain!
