Afternoon Market Key Analysis:
Bitcoin Market:
The 1-hour chart shows a top divergence, with a strong focus on the two strong support levels of 73600 and 72700, which are potential long positions.
Market Sentiment: This morning, the Bitcoin long-short ratio was 0.59, indicating strong shorting power, with some investors represented by KOLs like Xiaoxia looking bearish.
Ethereum Trend: The daily chart shows a bullish engulfing pattern, with trading volume increasing threefold, currently near the previous high. If it holds above 2820, the altcoin season may come. 2700 is a key support, and if maintained, the market is expected to continue rising.
Trading Strategy: It is recommended to place orders at hourly support levels 2775 and 2728, with a position size of 5.5, as an excellent entry opportunity. The stop-loss should be set at 2700, considering the impact of tomorrow's Federal Reserve policy meeting.
Federal Reserve Policy: It is expected that rate cuts of 25 basis points will occur this week and next month, but subsequent actions may slow to once every other meeting.
Position Management: Friends holding long positions should take profits in batches, retaining some positions to avoid a gambling mentality. Re-enter at the bottom to achieve rolling profits.
Dogecoin Warning: Dogecoin whales have sold at high positions; any future surging coins should be sold in batches, taking Dogecoin as a lesson.
Relation between $BTC and Altcoins: If BTC.D peaks, BTC will show a volatile upward trend, and the altcoin season may truly arrive.
Altcoin Recommendations: Neiro is worth considering after a pullback. Last night, US stocks hit new highs, Bitcoin continued to rise, $SOL broke through the weekly descending channel, and $ETH is catching up, with a high probability of breaking through 2800, leading to a comprehensive catch-up in altcoins.
Summary:
Aside from strong coins like RAY and OM, most coins have just broken through resistance levels, waiting for a catch-up. Adjust positions to take profits, but avoid exiting large positions; cherish your chips.
Combining Bitcoin and sector leaders analysis, the uncertainty of the election has led some investors to be shaken out.
Seize the main upward wave, and do not fear heights. Bitcoin only needs to rise another 30% to reach 100,000; there must be a major adjustment before 100,000, providing a good opportunity to clear contract leverage and make significant waves.
Altcoins still have the risk of being cut in half!
Reminder:
Invest rationally, do not blindly follow trends.
