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Has the second bottom exploration started?
After the sharp decline on October 11, the market sentiment was completely shattered. In the past, everyone was used to buying when prices fell, but this drop was too severe. Retail investors feel like they are standing on the edge of an abyss, afraid to move for fear of getting trapped. If the lower shadow is really consumed, it will be quite frightening. The essence of a second bottom test is to force retail investors to sell their holdings, and most people couldn't buy at all with that long lower shadow on the 11th, while the exchange even crashed. For contracts, it has an impact on orders, but for spot trading, the chips are still above, making the lower shadow almost meaningless.

If retail investors do not buy below the lower shadow line, then why would the main force sell the coins they hold and then go to drive the price down to explore the bottom? The most basic logic of the financial market: washing the market is to absorb funds, not to let retail investors pick up bargains. The lower shadow line on the 11th has a strong deterrent effect, but those who understand the market will not care at all; it is only to explode contracts, leverage, and borrowing.

You can fully understand that the lower shadow line should not appear at all; this is the main force playing tricks. However, since we are using contract leverage, we must endure the main force's rogue behavior. Therefore, whether there will be a second dip this time, I think it is not certain; this is just a personal suggestion.

Guys, I'm heading to Chongqing today. The new operations center is opening there, and I'm going over to teach for a few days and show everyone the office over there, which is quite nice.