October 29
Crypto Analyst Report (Original Crypto Research Society was shut down)
Yesterday BTC continued to rise, this morning it broke through 71,000 with a good increase. Currently, it has entered the overbought zone on the 4-hour chart, and there will be a short-term need for a correction, but it’s not a big issue. The daily level remains healthy, and the upward trend remains unchanged. Stay confident and pay attention to the latest fundamental news. The non-farm payroll data next Friday currently looks a bit unhealthy, so be prepared with appropriate defensive strategies. First, focus on tomorrow's small non-farm data; if the expectations are not good, consider reducing holdings to avoid risks. There are also upcoming advantages such as the general election, interest rate cuts, and FTX fund releases. Stay optimistic; the mid-cycle of the bull market is about to start.
ETH follows BTC and rises in sync; this morning it broke through 2600, with strong resistance at 2650. A slight adjustment is expected before another attempt to surge. However, the ETH trend is still relatively weak compared to BTC, and the ETH ecosystem is not very active. But with BTC successfully breaking through, it’s just a matter of time before ETH catches up. A new round of the upward cycle is about to start.
The altcoin sector rises in sync with BTC, but the extent is not very large. SATS has had many corrections recently and has continuously entered the oversold zone. Continue to hold and wait for a rebound, plan to exit around 50. For mid-term holding, it could go up to around 80. PEOPLE saw a significant drop over the weekend; let's observe this week. If there’s still no obvious upward trend, consider exiting. After reducing holdings in CKB, continue to hold and wait for the ecosystem to explode. Currently, BTC has broken through the 70,000 mark, and it may be worth considering other quality coins for purchase. Keep holding FTM and temporarily hold FB, waiting for the ecosystem to recover.
Fundamental news: Pay attention to the non-farm payroll data this Friday; the current numbers are not ideal.
Primary market information:
Continue to focus on RGB++; recent interest has not been great.
The Rune market has recovered somewhat; friends who bought DOG previously are advised to hold long-term.
The on-chain MEME sector remains hot; continue to pay attention.
Support and resistance for mainstream coins today:
Today's market, BTC support at 69,800-70,300, resistance at 71,500-72,000; ETH support at 2,520-2,550, resistance at 2,650-2,700.
Today's greed and fear index: 72 (Greed)
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