📈 Market Analysis and Strategy Adjustment
Review of Yesterday's Views:
Yesterday, it was mentioned in the community that Bitcoin ($BTC ) and the previously surged cryptocurrencies seem to be waiting for Ethereum ($ETH ) to make one last push, after which a collective adjustment may follow.
Current Market Analysis:
Bitcoin (BTC): Although there is a possibility of adjustment, it cannot be confirmed that Bitcoin has entered an adjustment phase, and the depth of the adjustment is also unclear. Ethereum (ETH): In my trading system, if the daily closing price stands above the upper box and more than 5 consecutive 4-hour K-lines also close above, further observation of the pullback strength is needed to confirm the subsequent trend.
Current Strategy:
Spot Position: Maintain the existing spot position unchanged. Futures Operation: The short-term long position in futures from yesterday was closed in the morning. After confirming that Bitcoin has entered the adjustment phase, the adjustment strength will be observed to decide whether to establish a hedging position. Contract Increase: Use profits from contract orders to continue increasing positions in altcoins and small cryptocurrencies (dog coins).
Impact of Federal Reserve Rate Cut:
In the early hours, the Federal Reserve cut rates by 25 basis points, in line with market expectations, and the market reaction was stable, with no significant fluctuations.
Election Dynamics:
As the enthusiasm for the elections gradually fades, the market focus shifts back to the global money supply and the macro context of cryptocurrencies, which are closely related.
Short-term Trend Analysis:
In the short term, the market shows signs of divergence, coupled with the weekend effect, it is expected that the market will maintain a sideways consolidation trend. Bitcoin is consolidating sideways, while Ethereum performs steadily, providing a potential buying window for altcoins.
Summary:
In the current market environment, maintain a cautiously optimistic attitude, flexibly adjust strategies to cope with possible market changes.
