1. Global Risk Assets: The top of the market is within reach, supported by low interest rates in China, Japan, and South Korea, as well as good liquidity. These regions are expected to lead the way, with China's A-share market showing stronger-than-expected strength. The coming months of October and November could be very active.
2. Market Uncertainty: The market is still in a consolidation phase, and thereâs anticipation of results soon. The direction should become clear by tomorrow, and we wonât have to wait until next week to know the next steps.
3. Price Levels: The market is expected to stabilize between 65,000 to 68,000. A drop below 62,500 could signal a shift towards a lower range, potentially hitting 58,000.
4. Supplementary Rise in Cottage: There is an ongoing rise in the "cottage" sector. Traders are advised to be cautious with spot cottage operations during this round of bull market action.
Operations:
1. Continue holding the short position for Bitcoin (BTC) at 64444, with a stop-loss at 65222.
2. For aggressive traders, consider shorting either Ethereum ($ETH ) or Solana ($SOL
OL) at current prices. Set a 35-point defense and a 3-yuan defense. Stick to just two orders, no need for three. For Bitcoin, a conservative approach is advisedâonly place short orders.
3. If Bitcoin $BTC
drops to the 65,000-66,000 range and falls below 65,000, it's recommended to short all three major cryptocurrencies at their current prices.
4. If Bitcoin breaks through 65,000 and maintains this level without falling back by tomorrow, a long position at the current price is advised.
Final Thoughts: The analysis has been consistent in recent days. Although the short orders on Bitcoin at 64444 have been held for over three days, the expectation remains for a pullback, potentially targeting 58,000. Currently, there are seven short positions in place across both major cryptocurrencies and "copycat" coins. The outcome of these positions will likely become clearer tomorrow.
