Bitcoin has reached a new high again. Will there be a chance to buy at a lower price? After Bitcoin broke the new high yesterday, it refreshed the new high price of 81,568 dollars again at 6:20 this morning. I didn't expect it to reach this level so quickly! Is there still a chance to get on board?
What should have been a calm weekend turned into a nightmare for the bears. I just mentioned chasing victory, aiming to break 80 this month, but I didn't expect it to happen so quickly. The bulls are really strong; they don't even take a break over the weekend.
After Bitcoin continuously breaks historical highs, the bears believe a correction is due. Many people joined the bear camp at the 76k and 77k levels, but undoubtedly they were fooled and got slapped hard by the market.
Brothers, never think you can figure out the tricks of the market makers. If the trend continues and the ETF keeps flowing in, and if the knowledgeable ones enforce their promises about Bitcoin, then reaching six figures early next year is absolutely not a problem.
So will there still be a chance to buy at a lower price now?
The content is quite sensitive; the market doesn't move in one day. If Bitcoin suddenly jumps to 100,000 in the next few days, then this market will be dangerous, likely containing a bubble. The higher the position, the less willing people are to enter, including myself.
A correction is necessary. In a frenzied bull market, there will be ups and downs. Temporary corrections are to pave the way for better rises. Recovering the upward trend after adjustments is what makes a healthy market.
As for when the correction will happen and where it might correct to, we need to closely monitor the market and the fear-greed index. The fear-greed index is now close to 80, and historically, whenever the value exceeds 80, Bitcoin drops at least 20% within two weeks. This is history, for reference only.
Today's market analysis: From the K-line perspective, $BTC is rising on the hourly, 4-hour, 12-hour, and daily levels. The intraday resistance is at 83,000, and the support is at 78,800 dollars.
Under the severe fluctuations of Bitcoin, according to Coinglass data, in the past 24 hours, the total liquidation amount for cryptocurrencies reached 681 million dollars, with long positions liquidated at 312 million dollars and short positions at 369 million dollars. More than 210,000 people faced liquidation, truly a double kill.
The recent market can be described as some rejoicing while others are worried.
Although Bitcoin has broken the historical high and reached 81,568 dollars, there are still people losing money in the market. This is the truth.
In the financial market, we need to stay clear-headed, calm, objective, and rational at all times.
Impulsiveness is the devil, and it's even more direct in the cryptocurrency market. It's not like traditional industries; here, any impulsiveness is very obvious, either striking it rich or suffering heavy losses.
But for the vast majority of retail investors, violent losses are the end.
This market is even more brutal than the 80-20 rule; it's basically 90-10. Even if it's 80-20, the 20% who enter can only indicate that we are no longer losing money in this financial market. Does not losing money mean you will definitely make money?
Not losing money doesn't mean you will start making money immediately; these are two different matters. To make money, you must go through this process, from losing money to breaking even, then to starting to profit, and finally to achieving long-term stable profits.
On the surface, it seems simple and easy, but in reality, the number of people who can truly transition from losing money to profitability is very few, even rare.
In trading, if we cannot correctly change our mindset, have the right understanding, and make mistakes at the source, the results will definitely be wrong. What is scary is that the wrong mindset can bring temporary and short-lived results.
This gives us 'obsession' and 'delusion' in the subsequent trading process.
Most people can't read the market trend or distinguish the cycle changes. What they think is acting in accordance with the trend, from a proper investment perspective, is actually acting against the trend without realizing it.
Being stuck in a correction can actually allow you to hold on, but if you want to break even or if the real bull market upward wave comes, fearing a repeat of past mistakes, you might liquidate your holdings fearing a loss of profit.
In a bear market, fear and anxiety won't make retail investors lose big money.
But for the bull market, it is when retail investors and newcomers truly lose big money, due to greed and ignorance, lacking respect for the market.
The results brought by the trend will make you addicted, thinking it's due to your own ability, not realizing this will be the beginning of a nightmare.
Tears are flowing; the bull really has come. Do we deserve it?
Every time there was a spike, the market hit back hard. Enduring again and again, fearing every day that the crypto market would collapse; we have really experienced too much.
So this wave of big bull, we deserve it! This is the reward we are entitled to after 200 days of torment. Everyone has gone through countless hardships and finally endured.
However, we still cannot be careless; operate cautiously with low leverage, and walk steadily through this long bull market that will last for a year. Do not inflate, do not get high, and be wary of bull market traps.
As Dr. Sun Yat-sen once said: The revolution has not yet succeeded; comrades still need to continue working hard!
Let me briefly talk about the recent performance!
On October 31, the order points shared in the group.
BB's price at that time: 0.287, you can place orders around 0.26 and 0.27 for nearly a 40-point profit!
TRB's price at that time: 60.64. You can place orders around 56-57. Yesterday's sell signal nearly doubled the profits!
The market is here, don't hesitate, just act, only by acting can you gain profits.
The cryptocurrency market has always been a process of survival of the fittest! If you want to avoid being eliminated, you must make changes!
Every penny you earn is a manifestation of your understanding of this world; every penny you lose is due to your cognitive deficiencies. The greatest fairness in this world is that when a person's wealth exceeds their understanding, there will be 100 ways for society to harvest you until your understanding matches your wealth.
Waiting for a bull market is the most exhausting!
But if we wait and finally see it, we will understand what it means to suffer before enjoying the rewards. Everyone must not leave the market; the hard days are coming to an end, and a frenzied bull market is about to arrive!
