Hot topics of Master Chat:
Bitcoin has been really "exciting" recently! As the US election draws closer, it has soared by more than 5%, all the way to 66K, and has directly performed a high-diving backtest. It sounds a bit like a campaign race, but this time it's an election in the cryptocurrency circle.
Why do you think it's going up? The US election is definitely a trigger, but to be honest, what really got everyone excited was China's "stimulus package". However, when I opened the package, it was a little empty! The content was not impressive enough!
As a result, the market participants were a little disappointed, and funds rushed out, rushing to the embrace of cryptocurrencies, thinking: "Bitcoin, let's go!"
The current trend is quite similar to the Bitcoin market in 2016 and before the 2020 election. If our history teachers are correct, we may even witness a new historical high!
But don't get too excited, after all, charts don't always go the same way. You have to take a break, play around, and mess around. So be smart, keep an eye on support and resistance, and take it easy!
Master looks at the trend:
Resistance level reference:
First resistance level: 66400
Second resistance level: 66500
If the first resistance level is broken, it will be unstoppable. It is estimated that the probability of testing the historical high again is high! The upside space is directly opened, and we can really wait and see.
At present, the K-line is staying in the previous high selling range, which is a key resistance line. We have to pay attention to it and see if it will be broken through slowly.
Support level reference:
First support level: 65400
Second support level: 64500
If the first support can hold, it means that the market is taking a bath, taking a short break and getting ready to start again! We can expect a "return of the king" rebound here.
But if the first support is broken, the retracement of 66K may be delayed for a while. At that time, we have to keep a close eye on the overbought area to see if the market continues to "go up".
Today's trading suggestions:
Now Bitcoin has entered the "overexcited" overbought zone, and it is estimated that it needs to calm down first and adjust before rushing in. Friends who have food on hand are advised to wait for a correction before entering the market at a low point, steadily.
However, I have to remind everyone that the buying is quite strong now, and the overbought situation may continue. Therefore, finding a suitable pullback point is the key to winning! Keep an eye on the low time frame to see if the low point is rising a little bit, and then consider taking action. Remember not to be too hasty!
10.15 Master's short-term pre-buried order:
Long entry reference: 64100-64500 range, long in batches, defense 500 points, target 65400-66100
Reference for short entry: short in batches between 66500-66900, defense 500 points, target 66100-65400
