#ORDI Everyone thought that after Powell announced a rate hike, there would be no more noteworthy news. But unexpectedly, the Short position launched a counterattack, causing BTC to continue to decline and challenge Ethereum at the 3000 level, with Altcoins returning all the profits they had made. At this point, the market is questioning whether Trump's BTC strategy will be implemented or not. This large market sell-off shows that news is a determining factor affecting market trends and highlights the importance of scalping trading. After the big sell-off without resistance, the psychology of most people begins to collapse and the sound of cutting losses is flooding the market. In fact, the market's strong rise at the end of 2021 also experienced similar fluctuations before Christmas in the West.

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In addition, there is the Fed's lack of intention to participate in any US government plans to hoard a large amount of cryptocurrency. And after the Fed's meeting lowered the forecast for interest rate cuts next year, under this influence, cryptocurrency has undergone 4 rapid declines, this time today is considered the 5th time. This decline, whatever the sign or information leading to the decline, has happened, that is the truth. Once the market has started a downward trend, it will not end quickly.
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The daily track of the currency price continues to decline, the weekly track forms a large down K and the monthly track forms a long upper shadow line. Rising at the beginning of the week, all the recovery at the end of the week, the weak market will look at the next backtest, the daily chart doubles high to the neckline to confirm, after the repeated high drop of the previous week, locally in the repeated downward trend, pushing short-term indicators to turn around, the downtrend needs to observe the short high recovery, instead of thinking about the opposite trend to do more Bo rebound, any recovery correction is accumulating strength for the next bottom wave, you must be aware of this trading idea, now where the bottom is no one can know, We can only take the previous low of 90,000 and 3,020 as strong support, and only when it is not broken here, can we consider the true meaning of buying the bottom! If the market is not restrained at the end of the week, the activity will continue to maintain a high level, meaning that the recovery will mainly be short.