Regarding today's market, I received a lot of information as soon as I got home. I took a look around and found that the problem mainly revolved around the rapid retracement of the market trend, which caused everyone to question their own sense of the market.
So regarding today’s market, I have only three core points to say:
1: The overall trend of the market has not gone bad since we said last time that it fluctuated upward.
2: So far, the price has been under the dual pressure of greed and fear and needs to be relieved. There is no harm in it.
3: I think everyone is eager to know the key point of downward price and the confidence of the main force.
Let’s talk about the first point first. Since the last time we said that the market has changed from shock to shock upward, it has formed an upward force. Therefore, the market trend at such a peak position is often more exaggerated. It is important to maintain a normal mind. I have mentioned many times that when trading on the right side (a new trend is formed after a downward consolidation), it is necessary to find the retracement limit of the market and consider where it will go. I also taught you how to check whether the trend is stable during the live broadcast. So if this is the case, it is not a big deal to us if the trend is not destroyed after the trend is stable. It is important to ignore fluctuations within a trend.
The second point is that the price is currently under the dual pressure of greed and fear. It is important to allow the market to unload. We need to understand the market, and we must understand it. I have told you that the actual price of the last round of market was 70,000. The market above this actual price is basically an extremely greedy trend maintained for some strategic purpose. Yes, extreme greed. This wave of greed eventually turned into fear and stayed on the top of the mountain. The current price has returned to 70,000, and it is the jealous and greedy market that is dealing with the remaining fear above. There is nothing wrong with the price retracement. Then at this time, as long as we know our maximum retracement point and really strictly stop loss (always find a buffer zone for ourselves at the bottom), we can calmly allow the market to unload. And I have also told you that when the extremely greedy market rises without a major breakthrough, the patience of the market is limited.
The third point is about the retracement point of today's market. I think we should find this key point. Look down at 69900 points. This is the average price point of the small cycle monthly line. I have told you what this position breakthrough means. It means that more than 50% of the buying power in a period has begun to lose money. Then at this position we get another information, the maximum retracement point. Retrace 50% of the most recent main rising wave. We can see where it is when we look at the market? 68500. It seems that this point has been silently accompanying us for more than half a month. At this point, everyone is already very clear that even if it goes down into a short-term panic market, the retracement point is only the 68500 position that has been with us for many days.
I didn't have time to do the live broadcast today, but I will not leave out my views on the broader market. You can make your analysis based on this. I wish you all good luck. I would also like to remind you not to be impatient. We have the best point to get on board, which is basically the price at the beginning of this round of market. This fluctuation is nothing, just don't move during the correction period.
