Good morning, brothers, Thursday, October 17th!
1. Yesterday's market review
Yesterday's market conditions were consistent with previous views. After rising, it fell rapidly and then entered a range of fluctuations. The market was strong.
Yesterday, the opening price of the big cake was 67074, the highest price was 68424, the lowest price was 66750, and the closing price was 67620, an increase of 0.81% and an amplitude of 2.5%.
Yesterday, the opening price of the second cake was 2607, the highest price was 2647, the lowest price was 2588, and the closing price was 2611, an increase of 0.14% and an amplitude of 2.27%.
The range fluctuations of Big Cake and Small Cake were not large yesterday, with the increase of both being above 1%, and the intraday amplitude was around 2.5%.
2. Today's market analysis
There are no particularly big unexpected factors in this round of upward trend. Brother Yu believes that it is inevitable and Bitcoin will definitely break new highs. The current price of BTC is around 67,700, which is only 6,000 dollars away from the historical high of 73,777, which is an increase of less than 10%. The best rhythm here is to fully consolidate in the current range (66,000-70,000), and then break through upward in one fell swoop after the adjustment. Therefore, contract players must be extremely cautious in the near future. Pin-breaking contracts are the most common means in a bull market.
We can see that Bitcoin is constantly raising its bottom price. We must be rational at all times. Analysis is one aspect, and operation is another. We must not have Fomo emotions at any time and must control our positions.
Regarding ETH, it is obvious that Ethereum has become weak again in this round of market. When ETH was in this range in the last round, the price of ETH was around 3300, and the current price of ETH is around 2600, which is also an important support position. The historical highest point of ETH is 4868u, and the current price is still a long way from the historical highest point. Only when ETH effectively breaks through 70,000, ETH may start to strengthen, which will lead to the copycat market. Fortunately, ETH can hold the position of 2600 every time, and can recover even if it falls sharply.
The overall bull market is still very strong, even though there is currently a war factor between North Korea and South Korea.
Intraday pressure and support analysis
BTC pressure level 68400-69000-70000
Support level 67000-66000-64800
The pressure level of ETH is 2680-2750-2900
Support level 2600-2500-2380
Buy on dips
3. Spot sector analysis and recommendations
Now the altcoins are all ready to move, which is basically the same as the previous rotation rules. First, the big cake breaks through, and then the second cake begins to drive the entire altcoin market. The most important thing at the moment is to see whether the overall market can effectively break through.
About current currencies:
1. Memecoin is undoubtedly the hottest sector in these rounds. From Pepe Floki Bonk People to the recently launched Neiro Turbo, the popularity and capital influx of Memecoin have always been at the top. At least ⅓-¼ of the positions should be in the spot layout.
2. AI Artificial Intelligence Sector Arkm Phb Wld Fet etc.
3. Chain oil sector Bnx currently has a large backfill, and you can arrange some spot positions around 0.6, Ygg Loka Gala, etc.
4. Sol Ecosystem Wif Jup Jto Ray
If there are good currencies, I will share them as soon as possible. Here, I recommend STX, which is currently priced around 1.8 and is the leader in the Bitcoin ecosystem. I see it trading above 4-5u.
Yuge's current holdings
ETH ORDI OP WLD STX WIF IO ETHFI PEOPLE
