Hot topics of Master Chat:
Over the past month, the overall market sentiment has tended to be panic. However, starting from last week, the greed index has gradually recovered. Currently, it has reached the greed sentiment level of September for the first time, with an index of 61.
In addition, the ETFs of Nasdaq and S&P have fallen instead of rising in the past few days. First, the US stock market has not risen in the past few days, and the US dollar exchange rate has also fallen.
At present, the domestic stock market is in an extremely crazy state, with a large amount of funds pouring in in a panic. People are rushing to buy, and there has been an obvious short squeeze trend. At this time, all technical indicators have temporarily failed, and the market is completely dominated by emotions.
Then some friends will definitely ask, what impact will the surge in A-shares have on the crypto market?
In fact, when there is more money in the market, people usually look for ways to fight inflation. In particular, Bitcoin is considered a good tool to fight inflation, so in this case, they tend to perform better.
However, historically, whenever a large amount of money flows into the market, the price of Bitcoin usually rises sharply.
Master looks at the trend:
Bitcoin remained sideways over the weekend and continued to fluctuate within the box range.
The first support of 65.8K mentioned by the master before has turned into resistance. Now it needs to stand steadily above 65.8K to increase the possibility of further rebound.
If the continued resistance test fails, the market may be disappointed because of the failure to break through. At that time, it is necessary to pay attention to the selling and it is recommended to deal with the fluctuations in the box range.
Resistance level reference:
First resistance level: 65800
Second resistance level: 66150
After breaking through the first resistance, it is recommended to pay attention to the test of the psychological resistance level of 66K and adjust the position accordingly.
The current risk-return ratio of long positions is not ideal. It is recommended to wait and see after breaking through 66K. Then look for pullback opportunities when the trend changes, which will help control risks and make more stable transactions.
Support level reference:
First support level: 65500
Second support level: 65300
Due to the sideways trend, it is recommended to deal with the support level in stages.
If the first support level is broken, the downward range may open to 65K. And the short trend may continue to increase. It is recommended to pay attention to the trend of the 20-day and 60-day moving averages at the same time.
Today's trading suggestions:
There has been no short-term trend reversal at present, so it is recommended to maintain an adjustment perspective and wait and see patiently.
In the short term, one can enter the market with a bearish mindset, but if the downward trend line in the chart is broken, it can be considered a trend reversal and one can adjust one's views accordingly.
9.29 Master's short-term pre-buried order:
Long entry reference: 64800-65300 range, long in batches, defense 500 points, target 65800-66150
Reference for short entry: short in batches between 66100 and 66600, defense 500 points, target 65500-65300
