Comments on the evening of October 14
Market Overview:
Recently, major communities have been shouting "bull back", which makes people wonder whether the investors who poured into the A-share market a few days ago have broken their thighs. Investors in the currency circle turned to the A-share market after completing the harvest, and investors in the A-share market returned to the currency circle to chase high prices after being cut.
Bitcoin trend:
Today, Bitcoin ($btc Bitcoin) broke through the 66,000 mark with strong volume, and constantly reminded everyone to hold firmly and not to sell easily.
Calm analysis:
When the market is jubilant, we still need to remain calm and conduct rational analysis.
Long-term bullish: From a long-term perspective, the bullish trend is clear, which has been elaborated in detail in the daily market analysis.
Short-term fluctuations: In the short term, the current price has reached a small previous high at the end of September, but there is still uncertainty whether it can continue to rise in the future. The key lies in whether the current breakthrough position can stand firm. If it stands firm, it is expected to hit the 70,000 mark; if it does not stand firm, it may pull back to around 64,000, and trigger a long position explosion at this position, and then seek an upward opportunity.
Market data:
Short position explosion: Yesterday's market soared, and a large number of short positions were cleared. The amount of short position explosion within 24 hours reached $191 million, accounting for 80%. Long position accumulation: As prices rise, more long positions have accumulated below. This may bring about selling pressure for profit exit, or it may make the dealer unwilling to let too many investors profit.
On-chain data: On-chain data shows that the bottom-fishing funds have remained relatively stable in the near future, but the number of big cakes in the exchange has seen a small inflow.
Investment advice:
The current recommended position is 70%, neither all-in nor short position. In the face of market fluctuations, investors should remain rational and look for suitable investment targets and entry positions for bottom-fishing when prices fall.
