The US military ships are expected to arrive in the Middle East tonight. The Pentagon held a meeting last night and has already formulated plans to target Iran in the new round of strikes. The geopolitical situation will continue to be tense. Previously, Laoshan mentioned that the time for ground forces to be deployed would coincide with a major drop, and the market has already reacted.
I won't talk much about politics today; let's get straight to the point. In yesterday's article, it was mentioned that if Bitcoin does not hold the 68000 mark, it will likely drop to 65000 or even lower. Fortunately, it bottomed out at 68115 USD early this morning without breaking the 68000 USD level. For Ethereum, it bottomed out at 2034 USD without breaking the key level of 2000 USD. During the day, Laoshan expects a range of fluctuations; tonight may be dangerous, and it could be another Black Friday. The lows are getting lower, so we need to focus on the 68000 mark for Bitcoin and the 2000 mark for Ethereum. If the 2000 mark is lost, we need to look for support around 1800 and 66000. Recently, everyone should avoid altcoins; it is a bear market and also an emotional market, so we must maintain our mindset. If Bitcoin cannot recover the 70000 mark by Monday, a new low is imminent. Recently, Laoshan summarized that both Trump and Langzi's statements can cause fluctuations in the oil market and affect panic in the financial market, especially over the weekend, which will intensify threats to the Middle East. When US oil prices rise to a certain level, news will be released to ease tensions, followed by a harvest. When oil prices fall, the financial market rebounds. Although he has been drawing K-lines, a bear market is still a bear market; all rebounds are useless. Once the fighting starts, the crypto market will also suffer a bloodbath. Don't be surprised if Bitcoin drops below 50000.
