October 22

Handsome Guy Research Report

Yesterday, BTC suddenly dropped sharply, which was inconsistent with expectations, showing no obvious bad news. The short-term decline was significant, dropping to around 66,500, purely due to capital dumping. It is expected that the market will stabilize after a washout, which will be more beneficial for subsequent increases. Currently, the daily trend remains good, with the MA3 cross forming. The 4-hour downward momentum has increased, and we need to wait and see for the day, waiting for the end of the correction. Pay attention to the support situation at 66,000 during the day. Those who have built positions should hold on, and those who haven't should consider entering on the dip. There are several positive factors ahead, including the upcoming elections, interest rate cuts, and FTX capital injections. Stay optimistic; the mid-cycle of the bull market has begun.

ETH followed BTC and also dropped, briefly hitting around 2,600 with light selling pressure. The same wait-and-see approach applies today, waiting for the end of the correction. The ETH ecosystem continues to warm up, with on-chain activity steadily increasing. The start of an independent market is not far off. Those who have entered should hold on, and those who haven't should consider joining, as a new round of rising cycles is about to begin.

The altcoin sector is adjusting in sync with BTC, with a small decline. SATS should continue to hold, and consider cashing out when it rises to around 50. For mid-term holding, it can be looked at towards 80. PEOPLE is expected to perform well before the November elections if held for the medium term. After reducing positions in CKB, continue to hold and wait for the ecosystem to explode. The altcoin sector should patiently wait for mainstream adjustments to complete and consider entering other quality coins for mid-term deployment, such as SSV, BB, DOGS, etc. FTM should be held, while FB remains untouched for now, waiting for the ecosystem to warm up.

Fundamental news: None

Primary market information:

RGB++ continues to be monitored; recent interest has not been very good.

The Rune market has somewhat recovered, and friends who previously bought DOG are advised to hold long-term.

SOL, SUI, and ETH on-chain dogs have been active recently; keep an eye on them for short-term speculative opportunities.

Mainstream coin support and resistance for the day:

Today's market, BTC support at 66,000-66,500, resistance at 68,000-68,500; ETH support at 2,570-2,600, resistance at 2,700-2,750.

Today's greed and fear index: 70 (Greed)

Follow Handsome Guy's research; latest research report at your fingertips.