Are you all confused, brothers? Today when I opened the BNB market, it directly jumped off a cliff from the range. Just a few days ago, it was still hovering around 870, and now it's smashed below 860. This plunge is more thrilling than a roller coaster! Don't just stare at your account and feel pain; first understand where this bloodbath came from!

Breaking news: The Bank of Japan + the Federal Reserve 'double kill', the crypto circle is collectively caught in the crossfire

This drop is not an accident at all; it's a direct bucket of cold water poured over the market by the news:

  1. The Bank of Japan is about to stab: the market bets that the Bank of Japan will raise interest rates by 25 basis points this Friday, and starting from 2024, every rate hike by the Bank of Japan will cause Bitcoin to drop over 20%. Now funds are directly fleeing ahead of time, and BNB is getting hit alongside Bitcoin;

  2. The Federal Reserve Chairman is 'changing angles' dramatically: former Fed governor Waller has become a popular candidate for the next chairman. This guy is famously 'hawkish', and the market panicked directly. The previous bet on 'three rate cuts next year' may be in jeopardy, and risk assets were collectively sold off, with the crypto market being the first to bear the brunt. Additionally, Bitcoin plummeted 3% in 24 hours, with 594 million USD liquidated, and BNB, as a mainstream coin, was directly brought down by the sentiment.

The technical indicators are flashing red: the range has broken + the death cross has arrived, has this wave of decline not stopped?

We are looking at the 4-hour K-line, this trend is already a clear bearish signal:

Previously oscillating in the range of 870-915, it has now directly smashed through the critical support at 870. In the short term, we can only look at the temporary support at 840, and further down is the strong support at 790;

The trading volume shows 'increased selling on high volume, decreased movement on low volume', indicating that funds are fleeing madly, and not many dare to take over;

The MACD has all crossed bearishly, which is a clear signal of decline. Plus, the RSI has not yet reached the oversold zone, so the downward momentum may not have been exhausted.

How do different retail investors cope?

Light position retail investors: withstand fluctuations in the 840-870 range; don’t chase up to add positions;

Heavy positions are trapped: if 840 cannot hold, reduce the position; don’t stubbornly hold until the strong support at 790.

For those in cash: wait until it stabilizes at 870 before looking; don’t try to catch the bottom now.

Personal opinion:

My personal view is to short on the rise. Currently, BNB has just broken the range, and the bearish sentiment hasn't landed yet. The rebound range of 860-870 is the opportunity to short. As long as the rebound touches the pressure level near 870, it’s the point for phased layout. Once it breaks, where should the take profit and stop loss be placed? If you are unsure about the specific take profit and stop loss levels, you can find @宥媛趋势 and participate in every attack from the villagers of Youyuan! Youyuan will announce the specific entry time and real-time news in the village every day!

Opportunities seem to be everywhere in the crypto circle, but very few can be grasped. Beginners are often trapped in false breakouts or suffer from volatility due to entering too early. By the time the market truly starts, they are either already positioned or dare not enter again. Whether one can stick to the rules and act only on opportunities that meet the conditions is the key to distinguishing beginners from advanced traders.

Want to know how I, Youyuan, led my brothers in the village to dodge spikes and set precise ambushes? Follow @宥媛趋势 and participate in every attack from the villagers of Youyuan! Youyuan will announce the specific entry time and real-time news in the village every day!#BTC #bnb