Master Discusses Hot Topics:

During the National Day holiday, the White House stated that Iran is preparing to attack Israel; the U.S. is actively supporting Israel in defensive preparations to respond to this attack. The news caused a significant increase in volatility, leading to a sharp decline in the market.

This reminded the Master of the mid-April incident when Iran vowed to retaliate against Israel, which drove Bitcoin to over $50,000 that weekend.

Recently, the trends of Bitcoin and U.S. stocks have diverged from liquidity; risk appetite has surged while liquidity has decreased. Additionally, institutional rebalancing at the end of the quarter is also an important influencing factor, which can lead to market fluctuations.

Short-term trends are leading liquidity, but they cannot diverge indefinitely; liquidity must catch up as well. Therefore, it is essential to observe whether liquidity improves after entering October, especially since October marks the earnings season for U.S. stocks, which will drive the fundamental logic in the short term.

The Master believes that, ideally, this is the best scenario, so we still need to wait and see.

Master Observes Trends:

Bitcoin broke through $62K yesterday. Although it seems to be rising, it is currently facing resistance at $62.4K and the 120-day moving average, having retreated to $60K.

With the Middle East conflict unresolved, the situation is intensifying, and geopolitical risks are increasing, along with rising prices and oil prices.

From a technical analysis perspective, the current rebound is due to a short-term upward divergence. Currently, $60K is being defended again, and the Master temporarily determines the short-term low around $60K, while also considering opportunities for ultra-short-term entry.

Resistance Levels Reference:

First Resistance Level: 61700

Second Resistance Level: 60100

If the price breaks through the first resistance level, the probability of retesting $62K will increase. However, it is still in a short-term rebound phase, so the possibility of a decline cannot be ruled out.

At this time, we can expect the 4-hour candlestick to engulf the previous large bearish candlestick, anticipating a consolidation around $61K for a retest.

Support Levels Reference:

First Support Level: 60750

Second Support Level: 60100

Since the chart shows Bitcoin maintaining around $61K, the Master suggests not setting $61K as support, but rather around $60.7K.

Currently, only if the price holds above the first support can it be considered an adjustment to raise the low and maintain a rebound view.

If it falls below and returns to $60K, the selling pressure below will be digested, and further downside risks should be noted.

Today's Trading Suggestions:

In today's trading, due to the short-term upward divergence, a rebound after adjustment can be expected, and short-term operations can be conducted with a rebound perspective.

Currently, $60.7K is considered a short-term low, and during adjustments, positions can be established around $61K. Responses can be made at $60.7K; this trading strategy can be used for ultra-short-term operations.

If the adjustment is a small bearish candlestick, rebound operations can continue; if it is a large bearish candlestick, the bearish view can be maintained.

10.3 Master’s Short-term Orders:

Long Entry Reference: Buy in batches in the range of 60100-60400, with a stop loss of 500 points, target 61700-62400

Short Entry Reference: Sell in batches in the range of 62400-62700, with a stop loss of 500 points, target 61700-60750

This article is exclusively planned and published by Master Chen (public account: Coin God Master Chen). For more real-time investment strategies, solutions, spot contract trading techniques, operational skills, and knowledge about candlesticks, you can add Master Chen for learning and communication, hoping to help you find what you want in the crypto space. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% following the trend; daily updates on macro analysis articles, mainstream coins, and altcoin technical indicator analysis, as well as spot medium to long-term price prediction videos.

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