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The market is accelerating its fall, everything will wait until tomorrow morning to change the weekly line and determine the direction. Good evening, brothers. BTC broke the hundred thousand mark tonight with a supplementary cut, hitting the weekly support level for both long and short positions. The moment to decide between long and short has arrived. If it continues to break down tonight and doesn't rebound above one hundred thousand, it will be easy for the weekly line to turn bearish, which means this wave of weekly rise is already finished, and the market still has room to continue falling. At least next week it could reach the 93000-87000 range. So whether there can be a rebound tonight is quite critical. We will specifically wait until tomorrow morning at eight to change the weekly line and confirm the trend. The long wick candle at night can still capture the rebound long order; just control the position well.
The Auntie's trend is similar to BTC, with the last line of defense on the weekly chart being 2200. If the weekly line fails to close above 2200 tomorrow morning, then Auntie’s weekly chart will also turn bearish. If Auntie’s weekly chart turns bearish, it will be very difficult for the market to make a second push to 2700-2800, because Auntie’s monthly chart has not stabilized in a bullish position and has remained in a bearish trend.
The weekly level of SOL has confirmed a bearish trend. Currently, long orders can only be executed for short-term trades and should not be held long-term. The resistance for the weekly rebound is at 155. If the weekly price cannot break above this resistance again, it can be confirmed that this wave of rise has ended.
The instability of the market is largely influenced by news factors, so I still advise my brothers to control their positions well and not to over-leverage on one-sided trades.
Finally, I wish my brothers success in the new week!