BTC Long and Short Battle Intensifies: Dual Test of Options Expiration and Volatile Market

Hello everyone, let's talk about BTC's recent market performance and the upcoming trading strategies. Last week, after the daily MACD golden cross, BTC had a chance to break through the channel and initiate an upward trend. However, following the Federal Reserve's interest rate decision meeting, BTC fell along with US stocks, and the continuous large redemptions of ETFs directly disrupted the upward structure.

Next, there is a very critical point: this Friday is the Q4 options expiration date, which is the largest expiration scale of this year. Historically, such a large-scale expiration often has a significant impact on the market, and BTC's recent decline seems to be preemptively digesting the pressure for the chip game before expiration. The Q4 options resistance level I mentioned in the middle of this quarter—100K-110K—now appears to be in line with expectations.

Short-term observation:

1. Key support levels: There are two important support levels below: 92,000 and 85,000. These two positions have relatively thin trading volume, but 85,000 is currently the strongest support area. If the price continues to fall and breaks through 92,000, 85,000 will be a good opportunity for bulls to position on the left side.

2. Impact of ETF outflows: Recently, the continuous outflows of ETFs have been putting pressure on the market; in the short term, it is necessary to observe whether the outflow trend will stop. Once the outflow slows down, combined with the performance of the support levels, it may provide an opportunity for the market to stabilize.

Currently, it seems that the weekly trend of 67,717,638,431 has come to an end, and the market is likely to enter a volatile phase. Trading strategies also need to switch from trend thinking to volatility thinking to avoid chasing highs and cutting lows. In summary, the key is to trade within volatility when in a range and to trade trends when in a trend. The challenge lies in knowing when to switch from volatility to trend and from trend to volatility. Feel free to share your thoughts in the comments!

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Disclaimer: The content of this article is for reference only and does not constitute investment advice.