Stop blindly going long and bottom fishing! Multiple technical signals are collectively weakening, the market trend has long since changed, and the overall situation next week is unlikely to be optimistic.

Still foolishly hoping for a bullish market recovery? I have long been counter-trend increasing my short positions! Many retail investors and industry influencers are still immersed in the dream of Bitcoin rebounding to ninety thousand, blindly following the trend into the US stock market to go long, unaware that risks are quietly approaching.

I have already thoughtfully positioned myself, steadily increasing my short positions on Bitcoin and Ethereum, following the trend without blindly conforming to the crowd. Do not be swayed by the noisy emotions of the market and the remarks of various bloggers, losing your own independent and rational judgment. A major drop in the US stock and cryptocurrency markets is imminent, and this is not alarmist talk.

Overall, the market trends in the US stock and cryptocurrency markets next week are not optimistic, and the situation is likely to continue to show weak fluctuations and downward movement.

From the technical patterns on the chart, Bitcoin's overall trend has clearly shown signs of weakness.

First, the market has consistently been under pressure below the key 0.618 retracement level, and after reaching the resistance zone around 84500, the upward movement is weak, and the price has failed to firmly hold above the 82800 level after multiple tests, subsequently turning back down.

Second, we are currently in the fourth wave consolidation phase on the weekly chart, during which the market trading volume has continued to decline, with a clear mismatch between price and volume, and there is a lack of capital support for upward movements.

Third, the long-term 200-day exponential moving average is forming strong resistance, and whether on the daily or weekly chart, the price on the chart is steadily operating below this moving average, indicating a bearish trend in the medium to long term.

Fourth, the bullish forces in the market are continuously waning, and the momentum for bullish attacks has clearly diminished; coupled with the formation of a death cross pattern at high levels on the moving averages, this further confirms that bullish momentum is basically exhausted, and it is very difficult to reverse the weak pattern in the short term.

Public Account: Big Cow Says Market

Warm Reminder: This is just a personal analysis of market trends, purely an exchange of market views, and does not constitute any investment advice. Investing carries risks, and please proceed with caution.

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