In fact, the decline last night was expected.

Because it has been said for several days that Bitcoin has a need for a pullback

When the callback really comes, there is no need to be afraid, just follow the plan

At present, the logic of Bitcoin is still on ETF

The impact of macro data is not significant

Yesterday, the main force made good use of the favorable CPI data.

Pulled a little, lured Boduo, and then started to smash the market

The market crash definitely requires the cooperation of news.

It is inevitable that this guy will appear again

The wave of Bitcoin's 38,500 high on the 10th,

This guy also tweeted that the ETF on the 17th is expected to pass

Last night I tweeted again that the 17th would be a postponed result.

It is indeed a good dog that is the main force.

The recent two waves of pull-ups and smashes also illustrate the severity of price manipulation in the cryptocurrency circle.

Gary's doubts about the cryptocurrency world are not unreasonable

Back to the market, if we look at the daily chart, the current price of Bitcoin has directly returned to this convergence pattern.

Although it fell below 35,000 last night, it recovered quickly.

As long as it does not really fall below 3W5, the logic of high-level fluctuations will not fail.

The needle here will still be attractive for the price

Only when the price actually falls below 3W5 will the logic of this high-level shock be invalid.

Let's take another look at Ether. As for Ether, my opinion remains unchanged.

The parallel high points here, whether they are real or fake, must be broken.

It's just a matter of time

From the daily line, the current callback is close to this rising trend line.

If it can stabilize here, we can expect it to be near the high point

If it cannot stabilize, we need to refer to the 0.618 position of this wave of rise, which is the focus of attention.

From the 4-hour perspective, after hitting the trend line, the price quickly recovered.

Generally speaking, the probability of a quick V-reverse for this type of pin is relatively small.

It is estimated that many bulls in this range will be liquidated in this wave

It is normal for the market to go sideways for a while here, and then decide whether to rebound upward or continue to fall.

I personally tend to think there will be a rebound here, at least to test the bottom of the upper range.

Generally speaking, Bitcoin and Ethereum fall by 2% or 3%, while altcoins are expected to fall by more than 10%.

But last night's decline, we can see that

Many strong altcoins have started to rebound more strongly than Bitcoin and Ethereum after a slight decline.

This is also one of the reasons why I think it is just a shock at present.

Generally speaking, I don’t think the cryptocurrency market will collapse before December.

Market fluctuations are actually a good thing. The most important thing for us is position management.