Today's Market Analysis
Since BTC fell back from the 69500 level, Bitcoin has been in a range-bound state, with the only change being that the lowest point is constantly being refreshed. Yesterday's market didn't have much to discuss, so returning to today's market, a wave of decline at 4 PM today once again refreshed the recent low, coming close to the 66000 integer level. From a smaller perspective, it seems to be nearing the bottom, but the new lows keep moving down. It will depend on the rebound strength after the US stock market opens tonight. I believe the support in the 66000-65500 range will not break, and the buying power is still very strong. It just depends on whether the big players are currently trapped in long positions or are pushing the shorts. My expectation is that a full rebound will start at 4 PM tomorrow, at which point speculation about the interest rate cut in November and the election narrative will begin, normally resulting in a decent increase, so we can only wait patiently now!
Day Trading Thoughts
The strategy remains to go long at low levels. After the US stock market opens, pay attention to the rebound strength at the 66000 position. If it's not too strong, it might be worth waiting a bit longer. It's not suitable to hold overnight positions, as there have been significant drops in the mornings these past few days, so if you’re not waking up early, it's best to avoid it. The entry position can be chosen at 66000 or with an order at 65500, keeping the position smaller and preparing some space for adding to the position!
Spot Market Analysis and Recommendations
Although Bitcoin and Ethereum have been falling, this hasn't had much impact on recent altcoins. Many project teams have chosen to initiate a violent surge to attract retail investors' attention. Basically, the hot coins in the past few days have all seen significant gains. Yesterday, Alpha, Arpa, and Perp surged almost simultaneously. As far as I know, these three are from the same project team. After the surge, it’s basically a mess, and those who chased the rise have mostly been trapped, with very few short sellers. Today, the focus is on the gaming sector, and the scenario is similar; it's basically a surge followed by an end. I think the Bitcoin ecosystem will soon see a similar surge, where ordi and stx positions are quite suitable, and some can be slightly accumulated. Secondly, for staking projects, the meme sector can be temporarily ignored, as capital outflow will need some time to stabilize.
Focus: ordi, stx, neiro, bome
#链游板块代币普涨 #币安上线SCR现货 $BOME $ORDI