Hot topics of Master Chat:
Last week, BTC ETF continued the trend of net inflows except for Wednesday. The overall situation is similar to last week, but the overall purchasing power has increased.
The total weekly net inflow reached US$397.1 million (a total of 6,578.89 BTC were added, while BlackRock only had a net inflow of 267.34 BTC on Monday in the past ten days, and maintained zero position changes for the rest of the time, while Fidelity has maintained a continuous net inflow recently.
In addition, MicroStrategy purchased 7,420 BTC at a price of approximately US$61,750 per Bitcoin, worth approximately US$458.2 million.
As of September 19, 2024, it holds a total of 252,220 BTC, worth approximately US$9.9 billion, with each Bitcoin purchased at approximately US$39,266.
Currently, many large-scale indicators show that the market has a trend of reversal. I believe that as long as the US stock market does not fail, there may be a big market trend at the end of the year.
Master looks at the trend:
Bitcoin re-broke through $64,000 this morning and retested its previous high area, and is still maintaining an upward trend.
And for the first time, US Vice President Harris publicly pledged support for the crypto asset industry, driving increased trading volume and price increases.
Historical data shows that September is usually a month of decline. But if Bitcoin can close above the September high, then Master believes that it is expected to continue to rise in October. In the past 11 years, Bitcoin has risen in October 9 times.
Resistance level reference:
First resistance level: 64500
Second resistance level: 65000
When the price breaks through the first resistance level, there may be a short-term uptrend. If you have already opened a position, you can consider maintaining your current position and look forward to a retracement of $65,000. If you are preparing to enter the market, you can try to trade the breakout after a retracement.
Support level reference:
First support level: 63700
Second support level: 62700
If we judge that the first support level may be held, this is also a suitable opportunity to enter the market and go long on a pullback.
Trading volume and RSI indicators:
The current trading volume is increasing, so we can maintain the expectation of a rebound. However, the RSI shows that it is currently in the overbought range, and any pullback can be regarded as an opportunity to enter the market again.
9.23 Master's short-term pre-buried order:
Long entry reference: 62700-63200 range, long in batches, defense 500 points, target 63700-64500
Reference for short entry: short in batches between 65000-65500, defense 500 points, target 64500-63700
