Tracking real-time hotspots in the cryptocurrency market and seizing the best trading opportunities, today is Wednesday, December 11, 2024, I am Wang Yibo! Good morning to all crypto friends ☀️ Die-hard fans check in 👍 Like to make big money 🍗🍗🌹🌹
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The three major indices closed down overnight, with the Dow Jones falling 0.35%, the Nasdaq down 0.25%, and the S&P 500 down 0.30%. This marks the fourth consecutive trading day of decline, as Microsoft shareholders voted against the Bitcoin investment proposal. Major shareholders of Microsoft opposed the company's Bitcoin investment proposal on Tuesday. Bitcoin fell sharply again, dropping to a low of 94,265! The market is waiting for the CPI inflation data to be released tonight (December 11 at 21:30) to assess the prospects for a Federal Reserve interest rate cut.
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Bitcoin did not see much upward momentum during the U.S. stock market opening, peaking at 98,300 before facing resistance. The price then fell sharply due to news impacts, currently dropping to around 94,200. In the short term, after the price retraced, the K-line showed consecutive gains, recovering most of last night's losses, but the strength is still lacking. Resistance has returned to the 98,000 level, where Bitcoin attempted to rebound yesterday but failed, leading to a price drop. However, the midnight correction has not reached the expected depth. Previous brief rebounds have not formed effective bottom support, indicating that there is still some downward pressure in the market. It is expected that the market will continue to explore downward movements and may approach previous support levels again. During this phase, the market may experience some fluctuations around this support level.
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Ethereum's performance is even weaker, with the opening not driving much upward movement, and the retracement is significantly larger than Bitcoin, currently dropping to around 3,512. The auxiliary indicators continue to show a downward trend, indicating that there is still a need for further declines. In the short term, key support remains at the 3,500 level, while the pressure level has moved down to the opening drop point of 3,750. Overall, the market still presents a weak pattern. Whether it is a vacuum or a false signal, if the rebound does not break, just decisively intervene, but always remember to manage risk.
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In this market, ultimately, it is about ability. If your ability is insufficient, the market will eventually make you pay back one day. Therefore, when your wealth exceeds your ability, you need to control your drawdown, although this control may be in vain, as that kind of arrogance and hubris in profit will ultimately destroy a person's rationality. However, we do not need to worry about our wealth being lower than our ability in the capital market, because this imbalance will eventually be corrected by time. If it is not corrected, there is only one reason: your ability is insufficient. If you are still in a state of confusion, not understanding technology, unable to read the market, not knowing when to enter, unable to set stop losses, not knowing when to take profits, randomly increasing positions, getting stuck while trying to catch the bottom, unable to hold onto profits during volatility, and missing opportunities when the market moves, these are common problems among retail investors. But it’s okay, come to me, and I will guide you to think correctly about trading. A single profitable trade is worth a thousand words; it’s better to seek help from Yibo than to face repeated failures! Frequent operations are not as good as precise trades; let each trade be valuable. What you need to do is find Yibo, and what we need to do is prove that our words are not empty. 24-hour real-time guidance, as market fluctuations are relatively fast, due to the effectiveness of review, for subsequent market trends, real-time arrangements based on actual trading will be the main focus. Friends who need contract guidance can scan the QR code at the bottom of the article to add my public account.
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