It is 21:20 Beijing time now.
Bitcoin started an accelerated oscillation and decline. During this time period on the weekend, most trading products in the financial circle basically stopped trading and started a oscillation and decline. This once again confirmed an important factor in my analysis of this week's rise.
As mentioned before, the Asian market has continued to rise during the holidays. Although the buying volume is not large, it is stable and active. The greatest possibility is that some of the hedging funds from the domestic stock market are closed and entering the crypto market to hunt for dips.
The current shock and accelerated decline is a sign of cashing out and leaving the market, because the stock market will open tomorrow, and the market is facing the mood of future interest rate hikes. Many people may not be optimistic about the current market status for the time being, and it is reasonable to leave the market.
Of course, it is still uncertain whether the trend will change to long or continue to be short. From the current market perspective, the support buying orders below are still relatively strong. Let’s look at the situation in the European and American markets early this morning, and then tomorrow’s overall day and night trading conditions will be better. We need to pay careful attention. If the domestic stock market opens and the foreign stock market futures market continues to rise steadily, it means that new funds and people have indeed entered the market, and a bull situation may occur in the short term.
The specific situation will be analyzed tomorrow.
