When it comes to trading, at the end of the day, you have to rely on yourself.

People always ask me if I follow analysts’ trades—I advise you not to. If you follow someone else’s rhythm, you’re basically handing money to the market. Stories of people making big money in the market get repeated endlessly, but who remembers those who quietly get liquidated and exit the stage?

If your mindset collapses, just stop for a while. I’ve lost quite a bit myself, so I understand how that feels.

I’ve seen too many people: after their first liquidation, they uninstall the app, calm down for a couple of days, then reinstall it, only to lose even more. The market won’t pity anyone, and no one owes you a second chance. Why should the market makers give you another shot?

Really want to survive in this space? Then just honestly accumulate some spot holdings. Don’t borrow money, don’t go all in, take it slow. Trading is always your own business; you can’t count on anyone else.

Analysts won’t pay for your losses. Market makers won’t either. The only one who can be responsible for yourself is you.

🔥 Current Market Observation

Bitcoin: There was little movement during the day yesterday, but in the evening, it dipped below 88,000 and quickly rebounded to 91,000. Before the rate cut on December 10, this might be the last window for a rebound.

Mainstream coins: They’re following Bitcoin, with no independent price action. If we really enter a bear market next year, around 900 could be a good exit point.

Ethereum: Hovering near 3,000 and climbed back to 3,100 this morning. There are 1.2 million ETH queued for unlocking, so it’s best to consider selling before the rate cut.

A few noteworthy news items from yesterday:
1. Some analysts point out that the current market resembles the early stage of the 2022 bear market, but investor sentiment is stabilizing and even showing signs of improvement.
2. Next week, there will be a large wave of token unlocks—APT, LINEA, CHEEL, etc., with APT’s unlock valued at about $19.3 million.
3. USDT’s total supply surpassed 190 billion, hitting another all-time high.

Back to today’s Bitcoin technicals:
Looking at the candlesticks, the 1-hour chart is trending up, the 4-hour is consolidating sideways, the 12-hour is still in decline, and the daily is in an uptrend. The intraday resistance is at 94,000, and support is around $87,000.

Disclaimer: This is just my personal trading record and observations; it does not constitute any investment advice. The market can slap you in the face at any time, so don’t use this as a guide.