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Is the market down??
This moment is called "Force Panic Creation," where panic is deliberately created in the market so that people get confused about whether the market will go up or down.
The market will create so much panic that everyone will think it’s going to crash, and a huge number of short positions will be opened in the market. But that’s when the real game begins, and the market will go up.
It hasn’t started an uptrend yet because the market hasn’t reached that level of short positions yet.