2026-11-9

Today is the Cold Clothes Festival, so I went to burn paper offerings. These past few days, I’ve basically either been working on the dashboard or sleeping... Today was especially ridiculous—I slept straight from 6 a.m. to 6 p.m...
We’ve already tested the 4-hour bottom (73300), which was 500 points lower than expected. We’re still in a bearish trend on the 1h, 4h, and 1d timeframes. This looks like a relief rally in the middle of a downtrend. Tonight, Iraq unusually called for a ceasefire. If the US-Iran war can be officially brought to an end soon, that would be bullish too. Even though the two-party battle and the Democrats’ “reckoning” campaign against Trump are still ongoing, and the pressure on AI hasn’t let up either, oil prices returning to their previous levels could help the FOMC delay rate hikes in December.
A 4-hour candle close back above 755 would mean the decline has stalled and could signal the start of a new rebound (if price can’t get above it, a new pullback could start around here). Until that happens, let’s treat this as a bounce in a downtrend. We’ve already tested the 4-hour bottom once; if we drop again, we’ll be heading toward the start of the daily pullback, around 71500. Most altcoins have basically fallen back near their original prices. My DOGE, for example, has been one of the worst performers... But PEPE has been seriously resilient. Ever since Sun started manipulating it, PEPE has been as tough as titanium alloy: when the broader market drops, it only dips a little, and when the market rebounds a little, it rips higher. It’s unreal.
Potential support below is at 743-741. Let’s see around 10:30, after the US market opens, whether the Nasdaq keeps recovering or goes back to test the lows.