24 October

Handsome Guy Research Report (formerly known as Handsome Guy Investment Research Society)

Yesterday, BTC fell again, briefly dropping below 66,000 to around 65,300, before quickly recovering. The drop exceeded daily expectations, and the decline still shows no significant bearish signals, remaining purely a capital sell-off. It is expected that large investors are adjusting and cleansing, and once this cleansing is complete, it will be more beneficial for subsequent increases. Currently, the daily trend remains good, with the MA3 cross forming. The downward momentum on the 4-hour chart is beginning to weaken, and it is also starting to recover quickly, reclaiming lost ground. The drop is merely temporary, so there is no need for concern; the upward trend remains unchanged. Long-term holders should maintain their positions, while those who have not yet entered should consider buying the dip. Upcoming events include the general election, interest rate cuts, and the release of funds from FTX, among other positives. Stay optimistic; the mid-cycle of the bull market is starting.

ETH followed BTC in a simultaneous correction, briefly dropping to around 2,450 before quickly recovering. The decline exceeded expectations, and ETH's correction is steeper compared to BTC, with a very volatile downward slope. Currently, the downward momentum on the 4-hour chart is starting to weaken, and the correction phase is coming to an end. Watch for resistance at 2,650. The ETH ecosystem continues to warm up, with on-chain activity constantly increasing. The independent market rally is not far off, so long-term holders should maintain their positions, and those who haven't yet entered should consider doing so. A new round of the upward cycle is about to start.

The altcoin sector is consolidating alongside BTC, with minor declines. Continue to hold SATS, and consider selling around 50. For mid-term holding, targets can be set around 80. PEOPLE is expected to perform well before the November election for mid-term holders. After reducing holdings, continue to hold CKB and wait for the ecosystem to explode. The altcoin sector should patiently wait for mainstream adjustments to finish, considering entering other quality coins for mid-term deployment, such as SSV, BB, DOGS, etc. Keep holding FTM, while FB remains untouched for now, waiting for the ecosystem to recover.

Fundamental news: None

Primary market information:

Continue to pay attention to RGB++, as recent interest has not been very high.

The rune market has recovered somewhat; those who previously bought DOG are advised to hold for the long term.

SOL, SUI, and ETH's on-chain tokens have been active recently, presenting short-term speculative opportunities.

Daily support and resistance for mainstream coins:

Today's market, BTC support is between 66,000-66,500 and resistance is between 68,000-68,500. ETH support is between 2,470-2,520 and resistance is between 2,600-2,650.

Today's greed and fear index: 69 (Greed)

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