Master talks about the hot topics:
Recently, the market has really put on a show of 'Bitcoin leading the charge, altcoins following.' Fans are exclaiming: Is the altcoin market going to cool down? Don’t rush, let’s hear a bit of the Master’s humble opinion first.
I have to say, the market's focus is all on Bitcoin now. Funds are flocking to Bitcoin like a marketplace, with a clear target: surge high and stabilize at a new level! But what happens after the surge?
According to historical patterns, Bitcoin will need to catch its breath, and at that time, it will likely consolidate sideways. You ask what will happen to the altcoins later? Don't panic, the rain will still come to all, just that the timing isn't right.
Why is there polarization now? The root cause lies in the market's funding volume. The last interest rate cut brought a funding increment that has already touched a limit, and the market's energy can only push Bitcoin higher, unable to take care of the altcoins.
To break this situation, we need to see the Federal Reserve's faucet reduce interest rates and release more liquidity! The so-called timely rain is likely to come this Thursday. At that time, the market will add fuel to the fire, and altcoins will naturally benefit.
Speaking of altcoins, the Master believes some people are already planning to cash out and run. But are all altcoins really doomed? The Master does not see it that way. In previous bull markets, Bitcoin always rises first, then altcoins follow up after consolidation.
Currently, although altcoins have pulled back, it does not mean they are all doomed. It's just that certain types, like MEME coins and inscriptions, are temporarily not suitable for taking risks. Large funds have already shifted to mainstream, so don’t chase highs on non-mainstream coins, or you'll truly become leeks.
Speaking of Ethereum, which fans have asked about the most, in this bull market, Bitcoin has long since broken through the previous bull market's 69K high, rising to 107K, while Ethereum is still hovering around 4100, still far from the previous bull market's 4800 high. Is this reasonable?
In the bull market cycle, Ethereum's status is indeed not balanced enough. But don’t forget, Grayscale's selling pressure has gradually been digested by new funds, especially with giants like BlackRock entering the market, injecting strong buying power. This is a signal that Ethereum is warming up, and takeoff is only a matter of time.
This week’s focus: Data + Meeting, buy on dips
Tonight there are November sales data, tomorrow night is the third quarter current account data, and the day after tomorrow early morning there’s the Federal Reserve's interest rate meeting, along with the ultimate gift of GDP and PCE. The market fluctuations after these data releases are good opportunities to go long; everyone should keep an eye on the lows, take profits in time, and the highs will keep rising.
Master looks at the trend:
Currently, the market is operating within the rising channel marked by the Master yesterday, and after holding the lower rising trend line, a rebound occurred. When operating near the trend line, attention should be paid to the fluctuations of the lower shadow line of the candlesticks, and it is recommended to leave a buffer space of **±200~300 points**.
After the rebound, if we reset the box range and convert yesterday's first resistance level into a support level, then if it consolidates within the box range of 105.5~106.7K, the probability of forming a bottom and rebounding will increase.
Reference for resistance level:
First resistance level: 106700
Second resistance level: 108000
Reference for support level:
First support level: 105500
Second support level: 104500
Today's suggestion:
If the price breaks through the first resistance level, it will form an N-shaped upward structure, increasing the probability of a pullback to 108~110K, and a short-term adjustment may occur at the 110K level.
Currently retesting new highs, we need to be vigilant about sudden profit-taking sell-offs. The first support level can be seen as short-term important support; even if it breaks down, there is still support forming below, so ultra-short positions can look for entry opportunities near the rising trendline + 104.5K.
12.17 Master’s segment pre-set:
Long entry reference: Light positions in the 104500-105500 range; if a pullback occurs in the 103300-103800 range, go long immediately. Target: 106700-108000
Short entry reference: not currently referenced
