Tracking real-time hot topics in the cryptocurrency field, seizing the best trading opportunities. Today is Saturday, December 21, 2024. I am Wang Yi Bo! Good morning to all cryptocurrency enthusiasts ☀ Hardcore fan check-in 👍 Like and make a fortune 🍗🍗🌹🌹

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Overnight, the US stock market opened low and rose high, with all three major indexes closing up more than 1%. The Dow rose by 1.18%, with a cumulative decline of 2.25% for the week, recording a 3-week consecutive decline; the Nasdaq rose by 1.09%, with a cumulative decline of 1.99% for the week, marking a 2-week consecutive decline; the S&P 500 index rose by 1.03%, with a cumulative decline of 1.78% for the week. Among them, the Dow recorded its largest single-week decline since late October, while the S&P 500 index and the Nasdaq both recorded their largest single-week decline in a month. The November PCE data released by the US Department of Labor on Friday showed a year-on-year increase of 2.4%, lower than market expectations, indicating that US inflation is cooling down. The report strengthened investors' expectations of two interest rate cuts next year.
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After the catastrophe of the last two days, the crypto market has exploded the contract, deleveraged, filtered the chips, the shock has been shaken off the car, and the discerning has been on the car, in fact, this currency market disaster is reflected in the big bull market is very normal, if you have experienced the big bull market in 2021, you should not be surprised by the shock at this moment, we have experienced 312,519,84,1220, Brexit, LUNA thunderstorm, Three Arrows Capital thunderstorm, FTX top crash, major exchanges cleared, mining machines cleared, 10 ministries and commissions issued documents, 12 ministries and commissions issued a document prohibiting, U.S. stock circuit breaker, Ukraine war, Middle East air strikes, grayscale smashing, U.S. government smashing, German government smashing, absenteeism, giant whale smashing, the Federal Reserve continues to raise interest rates, Japanese stocks are fused, and South Korean stocks are fused. In short, what we have experienced, the plot that can't be written in novels, so the current small decline can't scare us, the super bull market in 2024 should be a bull market under the effect of Trump and Musk, it can be said that this bull market is going a little too fast, especially Bitcoin has risen too sharply, this is completely Trump's Bitcoin National Strategic Reserve effect, the "eagle 🦅" and "poisonous mouth" of the Fed's old bustard actually have his unique character, the Federal Reserve is an institution independent of the law, in fact, opportunities are reserved for those who are preparedThe bull market is not over.
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The bitcoin market has witnessed a heart-stopping two-stage reversal, a fierce battle between long and short positions, catching everyone off guard. Bitcoin was pressured back from the high point of 98243, quickly forming a one-sided downward trend, plummeting all the way to the low point of 92272. Just when the market thought the decline would continue, the situation suddenly reversed. After hitting this low point, Bitcoin immediately launched a strong rebound, surging directly to the high point of 97681, forming a very obvious V-shaped reversal trend. From a technical perspective, there is not much good analysis for now, just follow the trend. However, I personally recommend patiently waiting for a pullback before going long. Although the downward space of the comparison is relatively large, the recovery of the long position is also impressive. It is recommended to enter long positions through corrective retracements.
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The trend of Ethereum is similar to that of Bitcoin. It started to pull back from the high point of 3418 and fell to the low point of 3101. Ethereum also showed strong resilience and quickly rose to the high point of 3495. After the market stabilized at a low level last night, there were signs of a rebound in the short term, without continuing the decline, but instead welcoming a strong rebound. In the trend over the weekend, close attention is needed to the strength of the pullback after the pressure from above and the rebound strength after stabilizing below.