Before a real bull market begins, the market usually goes through a consolidation phase. The goal of the market makers is to shake out retail investors' chips through repeated fluctuations. For example, when the price of Ethereum rises to 3700, if you do not take profit in time, you may encounter a sharp drop that makes you regret it. After the market warms up and rises to 3700 again, will you consider selling? If you can resist selling, another major drop may occur, falling to 3300. Will you feel regret at that moment? If the price rises back to 3700 again, will you choose to take profit? I guess most retail investors would choose to take profit. Even if retail investors hold on, as the market fluctuates again, the chips will eventually be washed clean. The major players will use big data analysis, and only after the retail investors' chips are cleaned out will the market be activated. This is why retail investors who frequently trade often lose money, as the major players have deeply understood the weaknesses of human nature.

Tonight at 9:30, the unemployment rate and non-farm payroll data for December will be announced in the United States. Among them, the previous unemployment rate for December was 4.20%, and the expectation is also 4.20%; the previous seasonally adjusted non-farm employment population for December in the United States was 22.7, with an expectation of 16. If the announced results are higher than expected, it will be bearish; if lower than expected, it will be bullish, and if it meets expectations, the impact will not be significant. Currently, many cryptocurrencies have stopped falling at key points; in an oversold state, there will be a rebound, but whether the rebound can continue will depend on tonight's non-farm data. Prepare for position management in advance and patiently wait for the evening data release.