Daily Market Analysis (10.23)

Summary:

1. I have matters to attend to in Shanghai, so I may not be able to respond to comments extensively; thank you for your understanding.

2. There’s no need to worry too much about the long-term; there are just some divergences in the short term. However, even starting from the 21st, there has been a 4-hour level pullback near 69500. The market still needs to make a 1-hour level rebound to around 68400.

3. Personally, I tend to think this is currently a 1-hour level pullback, after which we should still push up to the 71000 line. I have listed two reasons for this.

4. In a narrow range of fluctuations, there might first be a 5-minute level central move before a direction is established.

5. Risk assets and the dollar will not have significant risks in the short term, especially since the NASDAQ breaking its all-time high is highly likely. I have listed two reasons for this.

Operations:

1. Long-term positions held:

$BTC to close 1/2 at 71000 and move the stop loss to 63000, close all at 79000.

$ETH to close 1/3 at 2800 with a stop loss, close 1/3 at 3500 and move the stop loss to 2700, close all at 3800.

$SOL to close 1/2 at 188 and move the stop loss to 152, close all at 228.

2. Intraday short-term:

2.1: Bitcoin above 66000, Ethereum above 2555, and SOL above 161 continue to look for long opportunities. Those who are cautious can sell at Bitcoin 68400, Ethereum 2680, and SOL 171 first and observe the support situation at that position.

2.2: If Bitcoin hits 68400, aggressive traders can attempt to take profits on long positions and then short, taking profit on shorts at the 64500 line, and set up a 4-hour level trend long position. The same applies to Ethereum, where one can take profit near 2680 and reverse to short with a target of 2520.

2.3: SOL will not participate in this high short strategy.

2.4: I still personally lean towards the idea that this is currently a 1-hour level pullback; the 66000 line can effectively support the market to move up to the 71000 line. Even if starting from 69500 there is a 4-hour level down, the extreme position will reach around 64500, and since we are currently above 66000, there still needs to be a 1-hour level up to around 68400.