Hot topics of Master Chat:
As the market gradually picks up recently, many old fans are asking me questions about altcoins, such as whether the altcoin season is coming, or whether the current altcoins will have better development prospects.
First of all, what I want to say is that even if all the new money is only used to buy Bitcoin or Bitcoin ETFs, who sells it to them? Is it not the people in the cryptocurrency circle who sell it to them?
And these people left the cryptocurrency circle after selling? How can altcoins and Bitcoin be isolated? This simple logic has been explained by many experts in the isolation theory.
Looking back, every bull market starts with Bitcoin. This is the rhythm of water flowing in. The reason why the copycat market has not exploded is that the water is not big enough.
Master looks at the trend:
Yesterday, the pressure level after short-term sideways trading was broken, stabilized at 64K and returned to the rising channel.
The entire market currently believes that the reason for the rise in Bitcoin is the rebound driven by the Federal Reserve’s interest rate cuts and China’s massive economic stimulus package.
However, the master believes that the probability of breaking through the psychological resistance level of 65K by simple technical indicators is small. Therefore, if 65K is to be broken, new market upward momentum is needed.
In the short term, the advisor recommends using the breakthrough pressure level as support for trading operations.
Resistance level reference:
First resistance level: 64600
Second resistance level: 65000
The first resistance level is the current high point. If there is no new upward momentum, the probability of a breakthrough is low, and it is expected to go sideways before deciding on the direction.
However, 65K is a psychological resistance level for most retail investors, so it is difficult to break through it with technical indicators alone. Therefore, it is necessary to observe whether the retest can be successfully carried out.
Support level reference:
First support level: 63800
Second support level: 63300
In the short term, we can set the first support level as an important support and regard it as a suitable adjustment range.
Since the pressure level of 65K is strong, the probability of adjustment in the short term is high. The master suggests that you can gradually pay attention to the rising channel and 63.8K as support before trading.
In today's trading, although the short-term bullish view can be maintained, it is recommended to adjust the operation strategy near the 65K psychological resistance level.
It has now returned to the rising channel and the rebound view can be maintained. However, due to the approaching strong resistance of 65K, the profit and loss ratio of short positions will be more favorable.
9.25 Master's short-term pre-buried order:
Long entry reference: 63300-63800 range long in batches, defense 500 points, target 64600-65000
Reference for short entry: short in batches between 65000-65500, defense 500 points, target 64600-63800
