The cryptocurrency market has been in a downward trend for 8 consecutive days, and today marks the 9th day. The market is starting to pay attention to whether a "magical ninth turn" will occur under the resonance of sentiment and cycles. From the chart, although there have been multiple rebounds along the way, the momentum has clearly weakened, indicating that the current market sentiment remains bearish, with capital showing a strong wait-and-see attitude.

More critically, the bullish capital in the market has almost vanished, and sentiment is clearly dispersed. In the past two days, there have actually been favorable structures and time windows for the bulls, but due to the lack of new capital entering the market, rebounds could not sustain and ultimately evolved into a new round of plummeting, forcing the market to continue seeking new support areas downward.

However, from a technical structure perspective, all lower time frame cycles have basically entered a bottoming dull stage, and short-seller momentum has started to significantly wane after continuous release. This stage is often not the most suitable time for panic, but rather a time to closely observe whether bullish momentum begins to activate. Once capital flows back in and short cycles resonate, the bullish recovery can easily unfold quickly.

What the current market lacks is not position, but "wind." True volatility often occurs at the times when the market is the quietest and most desperate.

This article is originally published by 【Huiying Community】 and represents personal views only. Due to delays in information transmission, the content is for reference only and does not constitute any investment advice. Please make rational judgments and act with caution.
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