From the liquidation map, there are quite a few people trying to bottom-fish, but it seems difficult to quickly achieve a V-shaped reversal. This round of market action is likely to wash investors until they dare not easily bottom-fish; the last spike down to 90,500 completely washed out the bulls, followed by a rapid rebound.
This rebound is relatively slow; one can only gradually bottom-fish, following the strategy of buying small on small dips, not buying when flat, and buying big on big dips. It is wise to bottom-fish during a sell-off, as it is certainly better than chasing highs, and one should firmly believe that the overall trend is upward. After enduring the correction phase, things will improve. Trading with large leverage is undoubtedly gambling with one's life; using left-side spike orders to bottom-fish is most suitable, after all, being anxious makes it hard to succeed.
Key summaries are as follows:
Firstly, the gains of BTC over the previous three days have been swallowed by a single day's crash, and the current rebound momentum is quite weak, so one should hold more spike orders.
Secondly, the current hourly chart is facing resistance; if it cannot stabilize above 98,100, it will continue to decline.
Thirdly, ETH needs to pay attention to the 1-hour line pressure level at 3,780, which is currently close to that resistance level, and we need to observe whether it can effectively break through.
Fourthly, Mentougou has transferred another 3,419 BTC, which is a bearish signal.
Fifthly, the Bank of Japan may raise interest rates next week, which is a bearish factor.
Sixthly, on December 10, Musk took action again by retweeting posts related to PEPE.
Seventhly, 9 addresses purchased 555 billion PEPE in the last 2 hours, valued at about 13.8 million USD, at an average price of 0.000025 USD.
Eighthly, Sun Yuchen claims that this is only a correction, and there will be a continued surge and sustained build-up; everything is just getting started.
Ninthly, Microsoft's 2024 annual shareholder meeting will be held at 00:30 Beijing time on December 11, and one should pay attention to the potential market volatility it may cause.
Tenthly, the Ethereum Foundation has sold another 100 ETH; in the past, their selling actions were often at short-term peaks.
