Everyone thought that after Powell's hawkish rhetoric, there would be no more wind, but unexpectedly, shorts launched another counterattack, causing BTC to continue to break down. Ethereum will face a test at the 3000 level, and all profits from Altcoins have been wiped out. At this moment, the market doubts whether Trump's BTC pot strategy reserve can be implemented. This big dump in the encryption market once again demonstrates that news is the biggest factor affecting market trends, and it also highlights the importance of swing trading. After the afternoon's uncontested big dump, the emotions of most people began to collapse, and the voice of Cut Loss filled the entire market. In fact, the Western Christmas before the bull market in 2021 also had a similar trend.

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In addition, the Fed has no intention of participating in any plan by the US government to hoard a large amount of cryptocurrency. And the Fed's meeting has lowered expectations for interest rate cuts next year. As a result, cryptocurrency has experienced four rapid big dumps, and today's is the fifth. Regardless of the signal or information that caused the decline, the fact is that it has already dropped. Since the market has entered a mode of decline, it will not end so quickly.
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The daily trend of the currency price continues to fall downwards, the weekly chart forms a large bearish K downwards, and the monthly chart forms a long upper shadow line, which is in sharp contrast to last month's bullish K and this month's bearish K, accompanied by a rise and fall in low levels. At the beginning of the week, it rose, but it all fell back at the end of the week. The weak market will see further retesting. The daily chart confirms the double highs falling back to the neckline. After the repeated rise and fall last week, the local area is repeatedly accumulating momentum downwards, driving the short-term indicators to turn around. In the downtrend, what needs to be done is to observe the high points of the rebound and short, rather than thinking about counter-trend bullish rebound. Any rebound repair is to accumulate strength for the next wave of bottom exploration. You must have this trading idea. No one knows where the bottom is now. We can only treat the previous low 90000 and 3020 as strong support. Only by not breaking here can we consider buying the dip in the true sense! If the weekend market is not suppressed, the operation will continue to maintain high short and rebound short as the main strategy.