Master discusses hot topics:
Yesterday, Bitcoin saw a slight decline until early morning, leading many retail investors to immediately enter a stress mode. They are worried whether the bull market is cooling off or if we have already entered a correction phase. The Master can only say for now that the outcome is unknown, but the weekend prices really don't need to be taken too seriously.
After all, market liquidity over the weekend is absurdly low; any random funds can push prices up, and any random selling can crash it. Whether it’s a season of altcoin frenzy still depends on the attitude of American investors after the stock market opens next week.
However, it’s worth noting that if Ethereum can maintain a growth rate of over 5% and surpass Bitcoin, then we can look forward to it a bit.
Additionally, Michael Saylor mentioned in an interview that he raised $10 billion in a month to buy Bitcoin! Arkham data shows that MSTR has another $3 billion ready to buy the dip on BTC.
Although this part of the funds may not directly hit the secondary market, it is likely to go through OTC routes, but if Saylor one day announces: 'I spent $3 billion buying BTC!', then that story would be really exciting.
On the other hand, big player BlackRock has also been busy, accumulating 21,294 BTC within five working days this week, spending over $2 billion. We can't help but call it insider knowledge! However, the overall chip structure hasn't changed much, and there are no signs of panic selling.
On the contrary, more Bitcoin prices are consolidating towards 98K to 99K. The Master gives a simple translation: at this price level, a large number of investors are getting in, with total holdings exceeding 714,000 BTC.
Between 87K and 96K, there are only 880,000 BTC, indicating that short-term investors are moving forward. As long as market sentiment does not fracture, the possibility of a significant pullback is low.
Speaking of which, the Master almost forgot to complain! Let's just say, the weekend Bitcoin peak of 99660, isn't that number intentionally manipulated? Is it still the handiwork of nature? It's not a peak if it’s not manipulated! Everything is left to fate, no panic at the peak, no rush at the bottom~
Finally, regarding the recent one-sided upward trend, there are two points for contract operations: grab dips for averaging down, and take profits on rebounds. Because once the market rises, there may not be major corrections for months, and the daily small dips are opportunities; focusing too much on large fluctuations only leads to missing out, getting more confused as it rises.
Why not hold firmly? Grabbing dips every day for averaging down, compound interest makes profits soar! From 1 to 3, holding earns 2, but averaging down on dips makes profits directly 3+, earning an extra 33%. Little by little accumulates to much, that's the truth.
If you can't compound interest in a one-sided market, then making a big entry during a major correction becomes even harder. Human nature is like this: high positions see low positions as picturesque, while low positions see high positions as unreachable. Those who miss out always fear, hesitating in front of opportunities.
So for every one-sided market, don’t chase the highs, but don’t miss the small waves either. To sum it up: don’t hesitate, average down on dips, take profits on rebounds, and operate steadily!
Master sees the trend:
Bitcoin has not broken through the $100,000 high, and after a significant adjustment yesterday, it is currently hovering around 98K. In the short term, two points need to be focused on:
Currently, whether it can break the short-term downtrend line and turn into an upward trend remains to be seen. 2. Whether it will rise again after further corrections. If it falls again, the lows may shift further down.
On the other hand, Bitcoin's upward momentum has weakened, while Ethereum's influence is increasing. Meanwhile, altcoins are showing signs of rebound, and Bitcoin's market cap share is also declining.
Resistance level reference:
First resistance level: 98800
Second resistance level: 99300
Support level reference:
First support level: 97900
Second support level: 97300
Today's suggestion:
Before Bitcoin touches the first support level, it can be considered a normal adjustment. The rebound expectation can still be maintained, while attention should be paid to the 20-day moving average on the hourly chart. If it falls below the first support level, it must ensure that the candlestick closes above yesterday's low (which is the second support level) to judge that the low has shifted up and maintain the rebound expectation.
Today, Sunday, you can maintain rebound expectations in the short term and look for trading opportunities. The rapid decline range can be seen as selling pressure, which might actually be an entry opportunity.
Before a strong market trend starts, high volatility at high levels coupled with corrections is quite common. It's suggested to set key support levels before engaging in trading operations.
11.24 Master’s segment pre-embedding:
Long entry reference: 97300 light long, if it pulls back near 96666, go long directly, target 98800-99300
Short entry reference: not applicable
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