Bitcoin has been falling for four consecutive days now, and the decline is not too large. The total drop in the four days is about 10%.
Everyone in the market has been looking for opportunities to increase their positions. In addition, the A-share market was quite crazy before the holiday. Some people began to worry about whether to increase their positions in A-shares or in Bitcoin. Is Bitcoin the last chance to get on board now, or is A-shares the last chance?
If we look a little further ahead, we can clearly see that the sentiment of A-shares has changed significantly, but the fundamentals have not changed. The fundamentals of Bitcoin have also not changed. One is the bad part that has not changed, and the other is the good part that has not changed.
Therefore, those who did not enter the A-share market before the holiday will definitely miss out after the holiday. Even if both the A-share bull and the Bitcoin bull start to launch synchronously after the holiday, in terms of price movement and capital volume, one is a domestic investment product while the other is an international investment product; the A-share market is far behind.
October is usually the month when Bitcoin starts to rise. Currently, the price is gradually recovering from the negative impact of the Middle East war; the daily RSI has reached an oversold level. The current price of around 60,000 is also below the 200-day average investment price, entering a relatively cost-effective time period.
There won't be much time to see Bitcoin below 60,000. It's important to understand that bottom fishing isn't realistic; only by gradually increasing positions can we avoid missing out on cheap Bitcoin.
If it falls a little, add a little; if it falls a lot, add a lot. Only what’s in the bowl is meat. No matter how crazy altcoins get at this stage, don’t chase them. When a bull market comes, the funds will first rush into BTC. Bitcoin will rise first, then stabilize and wait for Ethereum. After Ethereum comes up, Bitcoin and Ethereum will stabilize together while waiting for altcoins. At that time, if you still have some funds, that’s the right time to buy altcoins.
In the end, Bitcoin, Ethereum, and altcoins will go crazy together, the media will report extensively, and then it will crash into the next cycle.
Let's take a look at the recent actions of Bitcoin whales. CryptoQuant founder Ki Young Ju stated that the current market volatility is just a game in the futures market.
Real whales drive BTC up through spot trading and the OTC market. Therefore, on-chain data is crucial; diamond-handed whales have not yet received particularly high returns, and whales that entered the recent bull market have barely made any profits.
Retail investors are unlikely to sell on trading platforms before liquidity starts flowing in. New giant whales are hoarding BTC at an unprecedented rate.
I believe you must be confident that breaking the previous high of 73,000 is certain. Prices below 69,000 are from the previous round; only prices above 69,000 belong to this round. It's not just the old investors who think so; large institutions firmly believe this as well.
Therefore, Bitcoin below 73,000 will be the best range for everyone to scramble for. The main sellers at this price level are ETF retail investors, beginners, and those trading on swings.
This means that the main players will continuously wash and deeply wash positions as much as possible below 73,000; only in this way can they maximize the collection of cheap chips.
The small retail public will definitely enter crazily above 100,000, and once it surpasses 100,000, the media will start frantically reporting, showcasing the news of Bitcoin soaring to 100,000 dollars to everyone.
We just need to follow the big institutional funds. Filling our positions below 73,000 is like completing the sowing of seeds; after that, we don’t need to do anything, just wait for the flowers to bloom and for the autumn harvest.
We must always look towards the finish line, let the process take its course. Price fluctuations are normal; holding chips and persisting to the end is victory.
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