Brothers, something big has happened.
The ETH white-yellow line has dead crossed downward directly above the zero axis; this is not a correction, it’s a signal for bulls to escape.
What’s even more frightening is that just now, Reuters released a major survey: the Bank of Japan is expected to raise interest rates in December, with next year's rates pointing straight to 1%! Behind this is a brewing global liquidity storm.
News bomb: Why does the Bank of Japan's interest rate hike make the crypto world tremble?
Many people think: "What does Japan's interest rate hike have to do with my cryptocurrency trading?" Brother, you are wrong. The global financial market is a web, and Japan is one of the last countries with negative interest rates. Once it shifts, it means:
In the past few years, countless institutions have bought Bitcoin and ETH with yen. Now that the yen is raising interest rates, funding costs are rising, and they must withdraw from high-risk assets. If Japan can't withstand inflation and has to raise interest rates, what will other central banks do? Global money is becoming expensive, and the first to suffer is high-volatility assets like cryptocurrencies.
This is not just a matter of adding 25 basis points; this is a declaration of the complete end of the 'global cheap money era' — the core fuel for the bull market in the crypto world is being withdrawn.
The truth of the market: You think it's just a correction, but it's actually a trend reversal.
On the four-hour level, ETH's rebound can't even reach 3250, and the area above 3250-3300 has already formed a 'pressure coffin lid'. More frighteningly, while the daily support at 3100 is still there, the four-hour structure has already broken. What does that mean? It's like a building where the main structure hasn't collapsed, but the floor of the level you're living on has already cracked — would you still dare to live there?
Key support level: if it doesn't hold at 3250, don't talk about a bull market. If it breaks 3100, look directly at 3000, even 2900.
Mig must clarify: A dead cross appearing above the zero axis often means that early bullish profit-taking is happening wildly; this is not a washout, it's distribution.
Mig's personal opinion: Obviously, ETH has already dropped over 200 points after rising in the early hours, the bullish pattern has been completely destroyed, and now the only support is at 3100. Japan's interest rate hike will lead ETH to a downward trend in the short term, currently hovering around 3200, only by breaking through the pressure range of 3250-3300 can we see a chance for a bullish breakout.
Retail investors' operational advice:
For those with heavy positions: If the rebound reaches 3230-3250, at least reduce your position by half.
Those who want to bottom fish while holding cash: after breaking 3100, there may be panic selling, wait for the daily line to stabilize before discussing.
For those still holding positions: If ETH falls to 2900, can you sleep? If you can't sleep, now is the time to cut losses at the smallest cost.
There are no gods in the crypto world, only smart people who can read signals. Mig's strength is not boasting or making empty promises, but teaching you practical survival skills. Follow Mig, fans who want to keep up can find Mig Village and chat room; Mig announces entry and exit points every day in the village!
