Interpretation of cryptocurrency market on Nov 2 2022

The market volatility was relatively slight to Fed Interest Rate Hike last night, similar to the previous predictions: it was higher at first, but it did not last for a long time. Whether it was the rise when the rate hike was announced or the decline after Powell made it clear that the rate hike would not end so soon and raised expectations, it was smaller than expected. Compared with the U.S. stocks that have recently superimposed their Q3 earnings reports, the crypto market is relatively resilient. But the US stock market did not fall below the previous low, and the BTC price did not fall below $20,000. According to the market's reaction to the Fed's hawkish remarks, it can be judged that the bottom is near, and the probability of subsequent sharp declines is further reduced.

Generally speaking, if the short-term long positions are reduced after the interest rate hike or trigger take-profit, this operation will be considered a success. The focus is on the long-term layout, as the rate hikes begin to slow in December. This also indicates that the tightening of funds has come to an end. As for the expected upward adjustment, it is just a lengthening of the end time, a month early or late, the impact is not significant. If BTC can fall back to the range of $19,000 to $20,000, you can appropriately add 60 to 70% of the long position, and the remaining part can be used to prevent plunging or be used for chasing after the next breakout on the right side. The most important thing at the moment is that there is not much decline in the follow-up to buy in low-priced chips.