Interpretation of cryptocurrency market on Nov 17 2022

The market is still in a narrow fluctuation. This market probably will continue for some time. Refresh the previous low in the market has been a considerable turnover of chips. Long-term locked hold immobile chips are getting more and more. We can not start a larger upward market under the current mood and fundamentals. So the following will still be the main style of market fluctuation.

Next, we need to pay attention to the characteristics of the market, similar to the end of October:

Significant positive breakout from the Sideway Congestion Area. A bull market wave is likely to open. In terms of time, this trend will appear in the first quarter of next year and be more credible. The current fluctuation period needs to be longer, and the market sentiment needs to be fully digested.

The market needs to give enough respect. As long as it appears, we must be firmly long. At most, worrying about painting the order book is a little cautious on risk control. Strictly stop loss and actively do take profit. Long-term positions do not need to operate. Only short-term funds can be used as the basis for entry.

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