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The panic index has risen to 16, a value that hasn't been seen since April—it's not far from a small reversal!
In October, the market was filled with optimistic voices predicting Bitcoin at 130,000 to 150,000 and Ethereum at 5,000 to 6,000, but now they have long since disappeared, replaced by a prevailing bearish sentiment!
Market sentiment is always easily swayed by the masses, but the bull market has not yet begun. What I hope to see is a gradual pullback, rather than this mindless downward trend, which is an unhealthy movement — this is not a trend reversal, but a targeted market liquidation!
Only when the market reaches a new high and then gradually declines is it a true signal for the switch between bullish and bearish!
Many people do not understand why the market is sluggish now but no longer continues to short. The logic behind it cannot be explained in just a couple of sentences; the core is to get rid of the "buy high, sell low" mentality of retail investors!
Long position at 97000 for Bitcoin, short-term target at 102000.
Long at the 3120 line for Ethereum, short-term target at 3350.
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