Do not worry about having no friends on the road ahead; there are like-minded individuals on the investment journey! Good afternoon, everyone! I am the King of Coins from the Coin Victory Group! All the valuable content will be in tonight's live stream, and you can click the link below to watch the recorded stream!!!

https://www.bilibili.com/video/BV1bMypBHETe/

Last night, the US market was still a mess, and market sentiment was at rock bottom! It's not that people don't want to rally; they don't even have the strength to pretend! The panic selling is finally slowing down; aside from those idiots at BlackRock still stubbornly holding on at four figures, other institutions have all shrunk to three-digit positions — this isn't about getting smarter; it's just that there's really nothing left to sell! But just because selling has slowed down doesn't mean prices will rise; the US stock market still dropped over a point, and the Nasdaq barely managed to close down 0.5%! The dollar is rising, and bond yields are falling, with money fleeing to safe havens; who still dares to touch high-risk assets?

The macro situation is now completely twisted: the market refuses to believe there will be a rate cut in December, and liquidity is still in terrible shape! Powell is also losing his cool, coming out to criticize old Powell and even claiming he has already selected candidates for rate cuts — as long as he dares to name them, the market will at least get excited! After all, people are willing to bet that "changing personnel = rate cuts," which is more effective than old Powell passing gas ten times! Unfortunately, this is just a temporary fix; if the liquidity death spiral isn't resolved, we'll have to keep kneeling sooner or later!

There are two key points to keep an eye on: Nvidia's earnings report tomorrow and the non-farm payroll data the day after! Nvidia took the lead in getting hit last night, opening down 3%, and only managed a symbolic recovery at the close, clearly indicating a downward adjustment of expectations! If tomorrow's earnings report is also disappointing, tech stocks will continue to bleed, making it hard for Bitcoin to catch a breath!

Back to the crypto market, how many people's psychological defenses were shattered when Bitcoin broke 90K? Even veteran players who bought in 2018 and 2020 are trembling as they throw in their chips, and those picking up the pieces above 95K are in a dire situation! This script played out in April as well, crashing down to 75K before rebounding, and back then, it was temporarily supported by a lull in trade; what about now? The Federal Reserve is holding off on rate cuts, tech stocks are on shaky ground, what can Bitcoin use to reverse?

The third segment of the daily downtrend hasn't ended at all! To stop this wave of decline, it must first rise above 97K; if it drops below 89K again, the next target will be in the 80s, and the weekly bullish order block is already waiting to catch the fall! Yesterday, 89K did see a decent stop-loss, with a significant buying volume at the close, looking like a sweep for accumulation, which was the most convincing rebound we've seen recently! But the pressure at 93.5K-94K has already taken several bites, and there has been no sustained buying since; if it can't push up today, we need to prepare to keep kneeling!

While there is a probability of a short-term return to 99K-100K, don't naively think this is a reversal! If it doesn't rise above 107.5K to form a higher high, the bearish structure remains intact! A rebound to 100K is already the ceiling; don't mindlessly shout "bull market return" — that's not a strong bull; it's just bears that are full and need to digest, understand? Once the densely packed liquidation zone is cleaned out, returning to 100K will trap all the buyers, and then the bears can kick it down again, which would be satisfying! The stronger the rebound, the harder the subsequent drop; that's the normal trend!

Now let's talk about Ethereum; those shouting "2943 weekly Bollinger band lower limit is the bottom," can you please be quiet? The lower limit can still break through! 2960-2926 is just a buffer; the real support is at 2800! Want to run to 2000? Break 2800 or 2700 first! The first wave touching 2800 will definitely take a breath, after all, Bitcoin is also at the first phase bottom after breaking 100K! I called it last week when it broke 98.2K; there was a space opening below, and 88K was the drawn phase bottom; hasn't that all been realized now?

The Coin Victory Group solidifies trends and points; remember not to guess randomly:

• Resistance levels: Second resistance at 95600, first resistance at 93800;

• Support levels: First support at 90400, second support at 88700.

I consider 90.4K as the current short-term bottom; as long as it doesn't break here, the structure isn't completely broken! Today's key is that the lows must be gradually raised; if new lows are made, we need to keep looking down! If the support at 91K is lost, the short-term bearish momentum will intensify directly, and with the RSI at only 37, there is still a lot of room to the downside; don't easily look for oversold rebounds; let's hold the low points first!

90.4K is now the lifeline; if it breaks, we look bearish across the board; if the second support at 88.7K is lost, the trend will shift from short-term to medium-term decline! Don't be vague about resistance levels either: 93800 is still stacked with the 20-day moving average pressure; only breaking through will lead to a decent rebound; 95600 is the coffin board of the last step, and hitting it will likely get pushed back! For a small-level reversal, it must first break through 93800, stand firmly above the 20-day moving average, and then challenge 95600; otherwise, all rebounds are just bait for more buying!

The strategy for the wave on 11.19 is straightforward:

• Long: Not recommended for now; don't rush in like a novice;

• Short: Enter in the 93800-94300 range, target 92200-90400.

Finally, a heartfelt note: if you want to learn real things in the crypto space, you need to follow the right people for the long term; don't just look at the market a couple of times and make random evaluations! The market is full of performers; today they flaunt long positions, tomorrow they flaunt short positions, and it seems like they catch tops and bottoms every time, but in reality, it's all hindsight! The truly reliable ones have consistent logic that can withstand scrutiny, not just jumping in when the market moves!

Our Coin Victory Group has all exclusive content; search for "Coin Victory Group" on WeChat to find us! We have real-time strategies, liquidation techniques, and contract play, along with free experience groups and live streams! If you find it useful, give a thumbs up and follow us; with the King of Coins, you can still make money in a bear market!

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