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#BTC In the long-term cycle... Based on the previous few instances, we can infer the trend after touching 93k now...
The key areas I am focusing on for spot trading after this wave are as follows..
During this round of coming up, several large liquidity ranges...
Each of these intervals is a demand zone.. From the order book depth chart in Figure 2, it can also be seen that in the first two demand zones 1 and 2, both are areas of demand for buy orders in the order book (both are blue signal areas)
After a certain degree of low-level oscillation in both the 1 and 2 intervals, a rebound occurred. The first interval rebounded by 12% The second interval rebounded by 8%
If the current third zone also uses 8% as the first wave of expected management, we can still look forward to a rebound to around 100,000 in the future.. Before the rebound, based on historical experience, it may still be necessary to have a phase of fluctuation in position..
If we consider the macro aspect, Thursday's non-farm payrolls and Wednesday's NVIDIA earnings report will be a good time point...
(NVIDIA's earnings report currently has 32m in the US stock market betting on a short-term single leg call, which is betting on a positive earnings report.)
If the non-farm data is very poor, it could pull back the interest rate cut expectations for December.. (Assuming that this wave of decline is all due to the lowered interest rate cut expectations for December)