The market has started betting on a drop to $65,000 this year, wiping out almost all the gains since Trump's election victory! Where is the market headed? Tonight has once again been bloody and chaotic, with $650 million stolen, 149,445 people going bankrupt and zeroed out. The market continues to decline and probe for a bottom, opening up a large downward space. For example, if BTC effectively breaks below 70,900, it will likely trigger another big crash. ETH has broken below 2,225 without reclaiming it, opening the first downward space. Currently, the 1h/2h/4h charts last night did not establish a strong bullish trend, so the market remains strongly bearish. Under the pressure of risk assets, firstly, liquidity continues to sharply decline; secondly, after consecutive shocks, new user numbers are extremely low. In recent days, although orders have been placed, the pace has been very fast. For example, daily analysis videos provided bearish ideas, such as yesterday's short at around BTC 76,800. In the evening, all long positions were closed, and a short was made at XAU 5045. Currently, XAU/XAG is also plunging violently! So, the recent approach is to be cautious and focus on monitoring the market. Every trade must have a stop loss. No matter long or short, stop loss is essential. No stop loss, no trading. If you can't handle stop loss, don't trade! Once again, I emphasize abandoning the mindset of needing to break even and make money before the Spring Festival. Trading is not a one or two-day thing; it's a long-term endeavor. When feeling FOMO, immediately pause and monitor the market. When liquidity is extremely scarce, price movements are all controlled by the big players in an instant! BTC support levels are 70,900/64,500/57,850. The price is close to 70,900—should we continue to see a sharp drop and completely wipe out leverage, or continue to resist the downward trend? Recently, the market is shrouded in extreme panic, and any trigger could lead to further leverage liquidation. ETH support levels are 2,225/1,860/1,600/1,385. Don't try to guess the bottom easily; guessing the bottom will only make things worse! Trading advice: small contracts for short-term trading, always with stop loss; prepare spot positions and start adding in batches. For example, every time BTC drops 3,000-5,000, add a layer; for ETH, every drop of $150-$200, add a layer. Hold for three to five months or more. When the market turns around, it’s easy to make a big profit of dozens of points! #BTC #ETH # Bro Shao, morning session