2024.10.2 9:27 AM BTC Market Analysis
As 250 Fatehs broke through the sky, BTC fell by 4,000 dollars, 5.7 billion CNY was wiped out, 105,904 people went bankrupt, and most of them were in a relatively basic position before the rebound, with an increase of less than 20 points. Weaker tokens have even wiped out the gains of this wave!
BTC Focus
Support 58500/57300/56100
Pressure is tentatively set at 61850
Yesterday morning, we talked about that the key points of 63500/62500 could not be held, the decline continued, and the rebound was the main theme. The pressure point was 64000. Yesterday's highest rebound was 64092. Both long and short positions had opportunities, and indeed both had opportunities. The long bottom position was hit to break even, and the short bottom position directly took a large profit, and the bottom position was not hit to break even!
There is no doubt that today's key point can only be placed around 60300. This position was tested last night. Today, we are focusing on the market situation. In fact, it still depends on the capital reaction of Europe and the United States. If the panic sentiment is quickly transmitted in the European and American capital circles, then this wave of market smashing is far from over. From the trend, the BTC trend is strong at the moment, and it has not reached the end of the adjustment. Therefore, all low-long can only bet on the pullback and not the reversal. All rebound shorts must be kept at the bottom position!
Operation: Don't worry about long-term fixed investment, continue to wait for the next wave of mid-line bottoming signal for mid-line spot, short-term intraday pull, run 80 immediately when there is space, and the bottom position must be implemented unswervingly!
