After the interest rate cut in December, the next pause window for interest rate cuts will last until February next year. During this time, the overall direction of the market is basically bearish. It is highly likely that there will be a rebound around the time of the Federal Reserve's interest rate cut in December, followed by another drop. Currently, there is one key variable: if Japan really raises interest rates, that would be the killer for this round of global risk assets. If it happens, the period from the Federal Reserve's interest rate cut in December to January will indeed be very difficult.

Looking back at the market

The current weekly support for $BTC is still around 74000, and this area will eventually be tested repeatedly. The daily chart itself is a volatile market. To be honest, if I were the major player, I wouldn't accumulate in the 80000-90000 range because retail investors are not desperate enough in this range.

From a short-term perspective

BTC: First look at around 80000; if it breaks, watch for around 75000.

ETH: 2723 can be used for a short-term long position, but it might drop to 2688; basically, this is the range, but it can only be used for a short-term long position.

If you really want to catch the bottom, a slightly reliable level for ETH is around 2620, with a stop at 2500. However, if 2500 breaks, you have to look directly at 2112.

This is the current market situation: if you haven't opened a short position at a high, it's better to wait until it breaks the key support level before shorting, because after all, there's still the positive factor of the Federal Reserve's interest rate cut in December, and the market can rebound and explode at any time.