October 31
Crypto Report by the Handsome Guy (previously the Handsome Guy Research Society was shut down)
Yesterday, BTC was consolidating sideways, with a mild pullback to 71,500, which was expected. The upward momentum on the 4-hour chart is decreasing, indicating a need for a correction. However, there is short-term potential to challenge the previous high again, so pay attention to the breakout at 73,500. At this position, it may be appropriate to slightly reduce holdings and wait for a correction. The daily chart remains healthy, and the upward trend is unchanged, so keep the faith. Yesterday's small non-farm payroll data was good, exceeding expectations by 1 time, but the market does not seem to be reacting positively, raising suspicions of data manipulation. Nonetheless, it's still a good thing. Tomorrow's large non-farm payroll data is also expected to be decent, reducing the risk of market panic. Currently, just reduce holdings in mainstream assets (there has been a continuous rise recently, so it's appropriate to reduce holdings while waiting for a correction). Altcoins can continue to wait. There are still several positives ahead, including the upcoming elections, interest rate cuts, and liquidity from FTX, so stay optimistic. The mid-stage of the bull market is about to start.
ETH had a slight increase yesterday, temporarily breaking through the 2,700 mark. The upward momentum on the 4-hour chart is decreasing, indicating a need for a correction. Today, pay attention to BTC's breakout situation and do not reduce holdings yet; wait for ETH to catch up. Currently, ETH's performance is still relatively weak compared to BTC, and the ETH ecosystem is not very active. With BTC's successful breakthrough, ETH catching up is just a matter of time. A new round of the upward cycle is about to begin.
The altcoin sector is consolidating in sync with BTC. Continue to hold SATS and wait for a rebound, selling off around 50. For mid-term holding, it can be seen reaching around 80. PEOPLE continued to consolidate yesterday and will be observed this week. If there is still no obvious upward trend, consider exiting first. After reducing holdings in CKB, continue to hold and wait for the ecosystem to explode. Maintain holdings in FTM, and temporarily hold FB, waiting for the ecosystem to recover.
Fundamental news: Pay attention to Friday's non-farm payroll data; yesterday's small non-farm payroll data was good.
Primary market information:
RGB++ remains a focus; recent interest has not been very high.
The rune market has recovered somewhat; those who previously bought DOG are advised to hold long-term.
The on-chain MEME sector remains hot, requiring continuous attention.
Mainstream coin support and resistance for today:
In today's market, BTC support is 71,000-71,500, and resistance is 73,500-74,000. ETH support is 2,570-2,600, and resistance is 2,700-2,750.
Today's greed and fear index: 77 (Greed)
Stay connected with the crypto community, and be the first to know about the latest research reports.
