The market has started betting on a drop to $65,000 this year, wiping out almost all gains since Trump's election victory! Where is the market headed? Tonight has once again been bloody and chaotic, with $665 million stolen, 149,445 people going bankrupt and zeroing out, and the market continuing its downward trend to find a bottom. This also opens up significant downside space; for example, if BTC effectively breaks below 70,900, it will likely trigger another major crash. ETH has currently broken below 2,225 without reclaiming it, opening the first downside space. At this moment, the 1h/2h/4h charts last night did not complete the establishment of a strong bullish trend, so the market continues to favor the bears. Under the pressure of risk assets, firstly, liquidity continues to sharply decline; secondly, after consecutive shocks, new user numbers are extremely low. In recent days, although orders have been placed, the pace has been very fast, such as daily analysis videos suggesting short positions, yesterday’s short at around 76,800 BTC, and in the evening, all long positions were closed and new shorts were opened at XAU 5045. Currently, XAU/XAG is also plunging violently! So, the recent approach is to be cautious and focus on monitoring the market. Every trade must have a stop loss. Regardless of long or short, stop losses are necessary. No stop loss, no trading. If you can't handle stop losses, don't trade! Once again, I emphasize abandoning the mindset of needing to recover and make money before the Spring Festival. Trading is not a one or two-day matter; it’s a long-term endeavor. When feeling FOMO, immediately pause and monitor the market. During such extremely illiquid conditions, price movements are entirely controlled by the big players in an instant! BTC support levels are 70,900/64,500/57,850. The price is very close to 70,900—should we continue to see a sharp drop and completely wipe out leverage, or continue to resist the downward trend? Recently, the market is shrouded in extreme panic, and any trigger could lead to further deleveraging. ETH support levels are 2,225/1,860/1,600/1,385. Don’t try to guess the bottom easily; guessing the bottom will only make things worse! Trading advice: small contracts for short-term gains, always with stop losses; prepare spot positions and start scaling in gradually. For example, every time BTC drops 3,000-5,000 dollars, add a layer of position; for ETH, every 150-200 dollars drop, add a layer. Hold for three to five months or more. When the market turns around, it’s easy to make a big profit of dozens of points! #BTC #ETH #MorningAnalysisWithSaoGe