Today is October 4, 2024, and there are 91 days until January 1, 2025.
It has been exciting these few days. A-shares have been rising for several days in a row, and A-share investors are all laughing and talking. On the other hand, the cryptocurrency market fell for two consecutive days yesterday and the day before yesterday, and all the gains in September were lost in two days. As a result, the entire cryptocurrency market began to panic again, looking for all kinds of news everywhere to know why it fell, whether it will rise again, and whether there is still a bull market. Those retail investors who had been looking at the rising market in the past half month and were ready to buy the bottom began to feel fortunate that they did not enter the market. Those who had been shouting that there would be a big drop after the rebound began to get excited and look forward to the big drop.
Those who couldn't help chasing the rise in the past few days began to feel anxious and panicked, and couldn't help but sell at a loss. No matter how unpredictable the market sentiment is, or how the short-term market fluctuates, my view has not changed. All the current callbacks are just to lure short sellers. The rebound and callback in the past six months have formed an inertial thinking in the market. The callback in the past two days is just to lure retail investors, making them think that the market will break new lows like before.
I advise everyone to stay away from those who say that the market will fall sharply next time and ask everyone to short sell and clear their spot positions. Because these people can say this, it shows that they have no skills. They just say that the market will fall sharply next time because they saw that the market broke new lows every time it rose in the past six months.
If the market is really so easy to analyze, just look at the previous trends and infer the next market based on the previous market conditions. Isn’t it too simple? After experiencing two rounds of bull and bear markets, I know that "looking for a sword on a boat" will only lead to falling into the abyss.
So everyone must keep their eyes open. Be careful of those who compare a previous market situation with the current situation and then analyze the market for you.
The monthly line of Bitcoin has closed with a lower shadow for three consecutive months and has also pulled back to an important support level. In particular, after a negative line with a long lower shadow appeared in August, a positive line was closed in September. The most important thing is that there was no new low in September!
Therefore, from the monthly line analysis, it is clear that the market has stopped falling and a reversal signal has appeared. The monthly line has already made the direction clear, so what are you worried about? There is nothing to worry about. Even though the decline in the past two days has wiped out the gains of the previous ten days, the more it is at this time, the more it means that the market is about to change.
At the moment, you may think that the market has fallen so much in two days, and the bears are very strong, and you start to get scared. Maybe in a few days, a few big positive lines will suddenly appear and throw everyone off the train. #BTC
