2024-10-24 Today's Viewpoint Summary

I hope you got that bite, but if you didn't, it's no big deal; in the trading market, there are always opportunities. Just be patient for the next chance.

Nothing particularly special happened yesterday; the U.S. stock market dropped in pre-market, bringing us down, and during the night session, the Nasdaq plunged, dragging the entire market down. However, I checked around and didn't find any significant negative news.

The positive expectations for the 5th and 7th are still there, so we can still try to go long; for short positions, it's best to wait patiently until we truly hit a peak. We still need to be especially cautious about the potential interest rate hike in Japan on 10.31 (next Thursday); if they raise it, we might drop to around 636.

Don't keep cutting yourself in the spot market; before the 7th, there will be opportunities for you to exit. After the 7th, you will need to consider whether to accept a loss.

The remaining focus is still on watching for a breakout at 678 during the rebound; if we can't get above here, we need to see where the pullback stops the decline. Under normal circumstances, it should stop around 668-661. This would then reform a 'higher low' pattern, allowing for continued long positions with a stop loss of 0.2-0.5%.

If you entered around 654, you can move your stop loss up after this pullback, positioning it 0.2-0.5% below the pullback level. With each subsequent pullback, adjust the stop loss to avoid extreme situations that could wipe out all profits. After all, 65x is just a halfway point, not a significant price advantage.

Ethereum is oversold; let's see if it can rebound to 2561-2578. If it can't get up there, pay attention to whether it can hold at 2525-2512-2478 during the pullback.

Sol is a cash-out dog, which makes it incredibly resilient; watch for a pullback around 170-168.