It’s time for the decisive battle. ETFs are postponed. Where will the market go?
Starting from this morning, it is obvious that the game of Bitcoin has become a lot more intense. The market in the past few days can be said to have had little energy. But since this morning, the price fluctuations have become much larger. Bitcoin fell slightly in the morning, but it didn’t actually drop much. But all the villages were frightened. Especially in recent days, except for a few copycats, the performance has been quite impressive. Other copycats basically have a general downward trend. It is not difficult to understand that large funds in copycats also have hedging needs. Whether it is selling the copycat and buying Bitcoin, or temporarily leaving the market
We can see that #BTC🔥🔥 started to rise before the Federal Reserve interest rate meeting started on Wednesday night.
It's obvious that someone has known the news in advance Start buying before the news comes out, After ordinary retail investors know the news, they can only buy at a relatively high level. On Thursday, the day basically fluctuated within a small range.
Can't go up, can't come down either It can be seen from here that the purchasing power of the Asian and European markets is currently clearly insufficient. It’s normal for the Asian game to have insufficient purchasing power. Recently, the inscriptions have almost gone crazy. As for the recent European trading time, the reason why the market has been relatively sluggish is still unknown.
Ethereum starts to catch up, will Bitcoin still reach 48,000?
The strength of #以太坊 , I think, is an announcement that this round of artificial bull market has come to an end.
We can clearly see from the exchange rate of Ether to Bitcoin that After the exchange rate completed a false breakout trend against the previous low of the daily line level on Wednesday, The entire exchange rate began a relatively strong rebound
Ether directly pulled out a 7% positive line yesterday. According to the past rhythm of #BTC🔥🔥 high sideways trading, Ether making up for the increase, air coins carnival, and then diving together. Bitcoin is currently in a sideways market, and Ether has also begun to make up for its gains.
This weekend was not quiet, #BTC🔥🔥 broke through 38500 on Friday. After briefly organizing the day, another wave of charges began on Saturday night. This morning it even broke through the integer mark of 4W.
When I was chatting with my friends in the group over the weekend, I said Here, either it does not go up to 4W, and those who are waiting to short at 4W will go short. Either go up to 4W, or go up a little further and kill those who are short on 4W. At present, the main force chooses the 4W move. Then it is possible to continue going up here and make another wave. Judging from the current feeling on the board, I feel that this last wave is likely to be unstoppable by 4W2.
The Bitcoin bull market is not over yet, and 40,000 is not far away
#BTC🔥🔥 This surge on Friday broke the previous high on other exchanges.
However, Binance did not break through the previous high at all. Whether it’s Bybit, okx, bitget, or coinbase They all came out of the form of false breakthrough against the previous high. But only Binance’s price still hasn’t broken through the previous high. I don't think this is a sign of the end of the market In terms of amplitude alone, these exchanges only exceeded their previous highs by four to five hundred US dollars. I think as a stage top, this amplitude is not enough
Moreover, when it was blocked and fell back, it did not release much energy.
Bitcoin’s shock has come to an end. I think it will rise first and then fall.
Yesterday morning, Bitcoin started a wave of gains after the correction hit around 35,600.
Although I did both this wave of decline and this wave of rise, I ran away halfway and did not get to the bottom. Although it is a little regretful, I think this is a transaction, and transactions are never perfect. Let’s look at the trend of Bitcoin. From a 4-hour perspective, we can clearly see that The current market is still within the convergence pattern I mentioned in the previous video.
Although this wave of rise has broken through the high point here, But it is still under pressure at the 37500 level, and there is nothing too special about it.
Bitcoin will reach 40,000 by the end of this month or the beginning of next month
#BTC🔥🔥 After hitting 37500 yesterday morning and encountered obstacles In fact, I have been wanting to wait for a small correction and prepare to intervene in a short-term multiple
But at night, the callback came, but it was too fast. Because of the current market trend, I think the risk of placing an order is slightly higher, so I changed it to watching the market and placing orders at any time. Last night I turned around and got a pack of cigarettes, and the needle was inserted. Then the market hit 37500 again and was still beaten back. At about 1 o'clock in the morning, After the news came out that Binance’s lawsuit may be settled, but a fine of 4 billion will be paid.
BNB started a wave of explosive pulls, while Bitcoin quickly retracted its needle downwards again and hit upwards again.
If the callback is really coming, do you dare to open an order? The current shock logic has not failed
In fact, #BTC🔥🔥 ’s drop last night should have been expected. Because it has been said for several days that Bitcoin has a need for a correction. When the callback does come, there is actually no need to be afraid, just follow the plan. At present, the logic of Bitcoin is still based on ETFs. The impact of macro data is not very big Yesterday, the main force made good use of the positive CPI data. A little pull, seduced Bodo, and then started to smash the plate And smashing the market definitely requires the cooperation of the news side.
It is inevitable that this old man will appear again Bitcoin’s surge of 38,500 on the 10th,
Bitcoin fluctuates at a high level, while Ethereum is ready to take off
Let’s put the conclusion first. I think the current market is just a correction. Whether it is #BTC or $ETH , there is still a chance to rise again In the previous two videos, I mentioned that Bitcoin will currently have a high and volatile trend. There is a high probability that 3W8 will not be the final top. And I have been looking forward to a daily level step back action The backlash is currently in progress In the morning, a friend asked me if I could open more after the decline stopped. I don't think the pullback is in place yet
Whether you look at it from Binance or Bybit, the daily level The imbalance area here has not been completely filled in yet.
The Bitcoin bull market is not over yet, short positions should stop profit in time
Let’s get straight to the conclusion. #BTC🔥🔥 This bullish market is not completely over yet. The short market has not really started yet The next half of this month should still see a volatile and upward trend. The real big drop should happen next month OK, let’s talk about it one by one.
The first is the daily line. It is obvious that it is a convergence triangle. Breakthrough, and then if it retraces, perform a daily level retracement. I think it's a very healthy move
Then looking at 4 hours, we can see that when the price dropped rapidly last night
Bitcoin is still in a volatile pattern, the prerequisite for upward or downward movement
Let’s draw the conclusion directly. Before the price of #BTC does not make a false breakthrough upward or downward, The market will never have a direction Let's talk about it one by one
Let’s first look at this wave on Friday night. A negative line inserted downwards by more than 600 US dollars. It was inserted from 3W4 to around 33500, and then rebounded all the way over the weekend. The highest reached around 34,700, but let’s actually draw it
Is it still within the shock range I mentioned in the previous video? Moreover, this wave of decline did not even fall below this low point, but only formed a parallel bottom.
Then I think that if the market breaks through upward and reaches a new high or something,
Bitcoin's short-term volatility is about to end. Will it go up? Or down?
Let’s first look at the daily chart of #BTC . Starting from the K line on the 25th, we can clearly see that
The price is in a converging form. The lows do not make new lows, and the highs do not make new highs. I said in the last video that the short-term market will follow a volatile pattern. The market is now about to take a small direction. Let’s look at 1 hour. After hitting a low near 33200 on Tuesday night
The price has not hit a new low. It only hit 33750 last night and then started to stabilize. It will be very clear if we draw it The negative line on the 1-hour chart obviously has a lot of short positions.
The direction of Bitcoin will not be revealed too quickly, so it can be traded in a volatile manner in the short term
Later tonight, that is, in the early morning of Saturday, Washington, D.C. court to issue further guidance on SEC and Grayscale cases At present, Bitcoin can still maintain a high level, which is closely related to this news. There is a consensus in the market that the Bitcoin spot ETF will be approved as soon as January next year. As for some information about the Grayscale case, It still makes some people think that the SEC may directly approve the conversion of GBTC into a BTC spot ETF. But we need to be clear, That is, the court has no authority to require the SEC to directly approve the conversion of GBTC into a BTC spot ETF. If the SEC operates according to the process, there will still be a delay period of up to 240 days.
The logic of continuing to be bearish on Bitcoin, the right position for shorting
A piece of fake news the day before yesterday brought the price of #BTC upward after the pin
In the past two days, the currency price has been fluctuating slightly above 2W8. Some friends don’t understand It’s all proven to be fake news. That’s not where we should go from here. If you rise from 2W7, you will have to fall back to 2W7 at least. In fact, although the news the day before yesterday was confirmed to be fake news But this news also stirred up market sentiment. Most investors are subjective hope Bitcoin spot ETF application could be approved There may be another news to be announced this week,
Last night’s CPI data, although numerically, was higher than expected
But in fact, if you look carefully at the detailed data, you will find that After removing the energy index, various inflation values are actually declining. But for U.S. investors, the gap from the previous value is not the most important thing. The most important thing is whether the final result meets expectations. The broad inflation data that ordinary people are most concerned about is obviously higher than expected. This means that the market has insufficient expectations for the trend of inflation. Increased risk aversion among ordinary U.S. investors
2W8 Breakthrough Imminent? It’s Time to Test Bitcoin’s Safe-haven Properties
#BTC It has been fluctuating slightly around 2W8 for two days over the weekend. Judging from the pattern of range oscillation, it looks like it is about to break through.
In morphology, when the price is at the upper edge of the shock range, the fluctuations are getting smaller and smaller, and there is a high probability that it will break through. But over the weekend, news about the Palestinian-Israeli war continued to ferment, making the originally clear market situation somewhat uncertain.
First of all, the two parties in the United States are surprisingly unanimous this time. They have both stated that they will firmly support Israel and provide assistance. This kind of voice has once again caused variables to arise in the bipartisan agreement that was likely to collapse on November 17.
#BTC In fact, I think the current market trend is quite clear. Judging from the daily line, although yesterday's negative line has begun to show some decline,
But I don’t think it’s going to fall straight down like that. First of all, the stabilizing level of this wave of decline is at the high point of this wave. When it hits this point, the market begins to rebound.
The rebound position is just around 0.618
It can be said that this trend is very unfriendly to bulls. But after all, the support reference point of this wave is the previous high point. It's certainly not as effective as it is here
Risk aversion in the risk market intensifies, Bitcoin's short-term response strategy
Early this morning, Speaker McCarthy of the U.S. House of Representatives was removed from office
Some friends may be wondering, what does McCarthy’s removal have to do with the currency circle? Then let's take a look I said in yesterday’s video that the rise of Bitcoin in the early hours of Monday morning The most reasonable reason is that because of McCarthy's compromise, the U.S. government does not need to shut down for the time being. The emotional level is good for risk markets, Bitcoin’s main force took advantage of the sharp rebound of the three major U.S. stock indexes to pull up a wave of gains. McCarthy's compromise can only keep the U.S. government from shutting down until next month. Now that he has been removed as speaker, the U.S. government is destined to shut down with a high probability next month.
Will the pie continue to rise? Then hold this line!
At 6 o'clock in the morning yesterday, Bitcoin suddenly surged, breaking through 2W8 in one fell swoop, reaching a maximum of around 28,600. Many people started to call Niuhui again and started to watch more than 3W movies. Then it fell back to 2W8 at night, and I felt that the surrounding environment suddenly became much quieter. At present, the lowest level of this wave of decline has reached around 27300, and it has temporarily stabilized. Then my conclusion is that this wave of decline is not over yet.
First, let’s take a look at the reasons for this rise I searched a lot of information during the day yesterday. I think the only defensible reason at present is that the U.S. government does not need to shut down for the time being.