The Bitcoin bear market has begun, how to respond going forward? It seems that after autumn began, luck started to stand by Old Cui's side, officially bidding farewell to the 80,000 mark, and the market has entered the 70,000 era. Almost all trend reversals are closely related to Binance; last year's bull market downturn was also caused by Binance. As a result, this year, it is still facing issues, but fortunately, the platform has the ability to cushion it, with all blame directed at the hackers. Please do not attribute this factor to the platform; the entire financial market is facing problems, and the decline is not limited to the cryptocurrency sector. The trend is clear, and shorting is not a problem. Today's focus is on the strength of the recovery; the restoration of the 80,000 mark requires certain financial support. Old Cui estimates that it will be difficult to see this position again in November, a point mentioned in yesterday's article. At the same time, I remind everyone that the current stage is focused on medium-term entry, no longer short-term operations; the 74,000 position is still valid.

Let's talk about yesterday's sudden collapse of the U.S. stock market. Based on this, Old Cui wants to attribute the main cause to the day of SanDisk's collapse. In fact, all the reasons have already been mentioned; the financial reports at the end of the year will determine the fate of the companies. The Q3 financial reports are not yet a heavy blow; the annual reports may be even worse. The AI sector hasn't been given enough time; the timeline mentioned by Old Cui, which is half a year after the interest rate hike, will create a bearish trend, and the mid-term will hit a low. The market's attention is fully focused on Nvidia's financial report, which is not a good cycle. Especially with SanDisk’s collapse, it could likely cause a chain reaction, and the semiconductor industry may have reached its peak recently, the AI cycle seems a bit too long. The hype around the fully automated concept seems difficult to achieve in recent years, including the so-called AI; as mentioned earlier, the tide is receding, and bubble liquidation is beginning; with the support of the interest rate hike cycle, remember not to entertain long positions, as the initiation of interest rate hikes seems more like a deliberate move by Americans to burst the bubble. Don’t stand on the wrong side.

Old Cui summarizes: Whenever the predicted market conditions are correct, there isn't much I want to share; during the profit phase, just focus on your own profits. There will always be a batch of users who haven't entered the market; if they want to enter, there has always been an opportunity. The first round of our predicted new lows hasn't reached the 74,000 mark yet. Before this, the short-selling issue won't be too significant, and medium-term layouts do not require too much consideration of the entry points. Just like what Old Cui mentioned earlier, from 85,000 down to the current 80,000 mark, even at the current price level, Old Cui will consider it. Often, the first measure will lead to a second round of testing; do not have the mindset of chasing highs. If everyone thinks the profit space of 78,000-74,000 is sufficient, then you can start to lay the groundwork. Yesterday it dipped to 76,444; this range may solidify within the last three days of this week; how to grasp it depends on everyone's choice.

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