Interpretation of cryptocurrency market on Nov 2 2022

The market on the previous day showed a high level of volatility as a whole, and the market seems to be waiting for news tonight. According to the current judgment, it is probable that the subsequent Federal Reserve will slow down the rate hike. Almost all investors who follow the market have expectations that the market's recent rally may be priced in advance. Therefore, after the Fed officially announced the rate hike, it is not 100% sure that it will be bullish. Whether there will be guidance on the slowdown of interest rate hikes in this resolution is the key to determining how the market will operate in the future.

The most eye-catching thing in the market recently is Dogecoin, which was also analyzed in the previous live broadcast. Advice: It is not suitable for holding, but for trading. Recent trends have once again confirmed this view. Dogecoin trades sideways and down most of the time, not much time up. That is, hold it and make no money or lose money the vast majority of the time. But every time it rises, it is almost an extreme market situation with a long red line, and it contributes more than 90% of the increase about 10% of the time.