Interpretation of cryptocurrency market on Nov 9 2022

The market fell dramatically last night due to the FTX' bearishness. It eventually ended with the founder going bankrupt and Binance acquiring FTX. FTT was eventually counter-voted by the market because it was heavily staked for SBF' shorting. But other unrelated tokens undoubtedly belonged to the wrong side of the equation. BTC fell to around 17,000. Refresh the new low of this round of bear market.

The five-wave low has been mentioned many times and will not be lower than the previous low. ETH only fell back to the September horizontal range. Other tokens even spit back the November rise, even the horizontal range did not fail to, just time appeared in the morning 3:30. It is difficult to grasp, but does not affect the long-term position. Now it increases to 7-8%, again pulling down the cost of positions. After all, at the end of the bear, chips than short-term floating earnings are much more important.

According to the previous thought, the long-term half position long a single hold unmoved. Short-term positions in October after a sharp rise, it is easy to do to keep profits out. With the market down to 17000, leaving the short-term funds to plunge into the bottom, the total position of the maximum is not more than 80%. So far, the long-term layout has been basically completed. After the operation is not much difficulty, the test of only patience.