Good evening everyone, I am Jiang Xin. It's been a few days since I last updated, and the updates after the 8th are confirmed. The market has experienced a black swan event due to tariffs and various other factors. The US stock market, Bitcoin, and Ethereum have seen their second plunge this year, with countless altcoins being halved again and again, resulting in 1.5 million people being liquidated for 20 billion dollars. Retail investors, institutions, and large holders have all been affected, with many altcoins collapsing, leading to a near-total reshuffle in the crypto space. As one of the few beneficiaries, we are also shocked by the extent of the plunge. If one had placed orders midway, they would have been liquidated as well.

Before Bitcoin's plunge on the evening of the 10th, we sensed something was off, and this round, the key phrase is "step into the sky." When the signal was sent, Bitcoin was around 122,500, and Ethereum was around 4,340. We witnessed the entire process of liquidating long positions, which was a squeeze, as detailed below. The young people I have trained have already surpassed some of the larger influencers; some people in the market need to take a step back and reflect. Many KOLs just got in early, but their skills are truly not as good as those of retail investors. In the face of such extreme black swan events, we should look at the rebound and recovery situation in the market to anticipate future trends.

Starting from the morning of October 11, Bitcoin's main fluctuation range has been between 113,600 and 110,000, while for two afternoons, it has been hovering around 112,500 without breaking through. Ethereum's main consolidation range has been between 3,900 and 3,700, mainly hovering around 3,800. In the afternoon, it spiked to 3,600, liquidating nearly 6 million shorts, and has now fallen back to around 3,800. The market hit its lowest point around 5:20, and in the following hour, it created a ten-thousand-point pin, completely liquidating millions of retail investors in the process. This is what a black swan event looks like; many long positions over the past half month have turned into a dream. Even some veterans, seeing Bitcoin reach new highs, thought Ethereum would push higher and bet on altcoin season. The reality is that the market has cleared their accumulations and brought them back to a state of respect for the market.

For Bitcoin, we should focus on the upper range of 112,500-113,800 and the lower range of 111,200-110,200-108,800. For Ethereum, we should focus on the upper range of 3,825-3,852 and the lower range of 3,780-3,720-3,680. In the future, if Bitcoin stabilizes above 112,500, we can consider the possibility of further upward correction. Conversely, if it rebounds, it should be treated as empty. Ethereum needs to stabilize above 3,850 for us to look at a recovery path.

For the day, it is recommended to handle Bitcoin around the large range of 118,800-112,500 and Ethereum around the large range of 3,720-3,850. It is suggested to short Bitcoin around 112,000, add at 112,800, and set a stop loss at 113,500. For Ethereum, short at 3,825, add at 3,852, and set a stop loss at 3,872.

If a rebound occurs, Bitcoin can consider a small rebound at the 110,000 level, while Ethereum can look at 3,720. My inclination is that the market will experience double downward fluctuations in the future!

The strategy is only valid at the moment it is issued; timely adjustments can be followed on the public account: Jiang Xin on Chan.

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