Market Review:
In yesterday's research report, it was clearly stated that a big bullish candle would usually lead to a small bullish candle or a pullback after a rally, and the current trend is basically in line with expectations! I emphasized the resistance near 75000 points, which was tested multiple times yesterday before pulling back, making it suitable for quick in-and-out trading! The probability of a 25 basis point rate cut in November is 99.4%. The interest rate decision will be announced at 3 AM tonight; everyone should pay attention to market fluctuations!
Technical Analysis:
BTC: The daily level has reached a new high, now over 3000 points above the previous bull market peak. According to previous market practices, a second new high exceeding the last peak by over 4000 points is quite close now. In the last 24 hours, there has been a rise of over 10%, increasing by over 7000 points. From the 4-hour chart, signs of stagnation are evident, with profit-taking already showing signs of exiting! Currently, all market news is favorable, and there is no policy suppression. The only thing to watch out for is 'buy the rumor, sell the news.' 'Buying the rumor' has been vividly demonstrated; whether the favorable news will lead to a 'selling the news' market remains to be seen, and we need more signals from the market to confirm! In terms of operations, be as conservative as possible and avoid being overly bullish or bearish. Those waiting for a top formation and looking to follow the trend should exercise enough patience, waiting for the market's bullish sentiment to dissipate, and re-enter after the first wave of profit-taking; that is the most prudent approach! For short-term operations, pay close attention to the situation around 76000 points in the Euro-American market causing potential drops!
ETH: The high price of Bitcoin has led to reduced gains, and today's market performance is more inclined towards Ethereum and altcoins for catch-up. Ethereum is surging, rising from a recent low of 2400 points to nearly 2900 points, an increase of 20% in just 28 hours. We have been discussing a pullback to around 3000 points this month, and I am now very confident! Future focus will be on research related to Ethereum's trading. Once Ethereum stagnates around 3000 points and the K-line experiences a quick minor sell-off before slowly rising and continuously challenging upwards, we can basically determine its top position! During the day, pay close attention to the pressure at the 2930-2960 levels. Once this level is reached, the previous trapped positions will gradually release, so be cautious of pullbacks!
Shanzhai: Today's performance is truly remarkable, not just the rise of Bitcoin, but the soaring of altcoins! The market's panic mainly stems from Bitcoin's current high price. In this situation, maintaining a high level of rationality and holding onto your assets is key. After significant rises, Dogecoin and Mask have seen substantial pullbacks, with profit-taking becoming evident. Floki, Ordi, ZRO, ARB, GALA, and NEAR are showing relatively stable and healthy trends, and can continue to hold for price increases!
The cryptocurrency market is highly volatile; caution is needed when entering. This is a personal opinion, not advice, just for sharing.
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