2024.10.1 Market Analysis

Today is October 1st, I wish you all a happy National Day!

The monthly line of the big cake closed with a bullish positive line. Feilong is firmly bullish in October for two reasons: 1. It has been half a year since the wash, which is enough from the perspective of the time cycle. 2. The Fed cuts interest rates, and water will slowly enter the currency circle, prompting the currency price to rise.

The weekly level has three consecutive positive lines. This week will be dominated by shocks. It stepped back to the B line price of the bottom pattern at 62,700, and the market will start again after the holiday. MACD is about to turn around and cross, and this market may continue until January and February next year.

The daily level ant channel is open. It is normal to step back at present. It has risen so much, and a small correction is not allowed? Continue to rise after the correction.

The short-term support of the four-hour is around 62,700. If it cannot be supported, it will go to 61,800, and the pressure is around 64,800.

Summary: The overall trend in the fourth quarter is rising, with short-term adjustments as the main trend. After the adjustments, the price will continue to rise. In October, it will break through the previous high of $73,777 and head towards $100,000 in the first quarter of next year. Hold on and you will see the results soon! #BTC