Master Discusses Hot Topics:

Today, let's talk about whether we are in a full bull market or if this is the last frenzy for BTC. This question has become increasingly thought-provoking lately.

First of all, the trend of ETH and altcoin indices is undoubtedly consistent. Right now, if ETH cannot firmly hold above 2820, then this wave of BTC is likely the last celebration.

Imagine if BTC reaches a new high but brings about a top divergence; the disastrous pullback on the weekly chart is already like a surging undercurrent, and the future is almost self-evident.

Conversely, if ETH really stabilizes above 2820, the altcoin celebration show is likely to begin. However, before that, it is indeed a wise move not to touch any altcoins. As for BTC? There’s no need for a passive hold; it’s better to operate flexibly in the short term.

There’s nothing wrong with ETH and Vitalik Buterin himself, but our common “old hands” always have something to say after significant price fluctuations. Ultimately, ETH and altcoins are in the “correct cycle” of the third round: rising from 900 to 4000, followed by a long pullback, is just a pattern.

From my personal perspective, BTC currently gives the illusion of being supported by ETFs, as if it has entered a “main rising wave.” However, this kind of “fervor” often makes people overlook the hidden risks, as if blinded by the so-called bull market atmosphere, unable to extricate themselves from the joy of the impending “main rising wave.”

As the saying goes, “Entering the circle is like diving into the deep sea.” The big waves may seem close at hand, but being cautious when falling into the water is when true strength is tested.

So, is it a full bull market or the last frenzy? It’s better to maintain some rationality and not be easily deceived by the peaks in front of us. After all, any rise has its pullback foreshadowing; the real main rising wave may just be beginning, or it may quietly retreat at the moment we think it is the most “stable.”

Master Looks at Trends:

Resistance Level Reference:

First Resistance Level: 72800

Second Resistance Level: 73700

Support Level Reference:

First Support Level: 72000

Second Support Level: 71500

Medium to Long-term Analysis:

Predicted Path: 75000 pulls back to 60000, then tests 80000; 80000 pulls back to 77150, target 90000; 90000 pulls back to 72000, then advances to 92000; if 92000 pulls back to 71000 again, then the next stop is 135000-149999.

So, brothers, whether you bought BTC at 17500, 25000, 39000, or 50000, you should consider selling in batches when it approaches 75000-78000.

Today, you might consider using 25-30% of your long position to short at highs for hedging. Although the daily chart hasn’t shown a top divergence yet, it’s wise to take short positions first and leave a tail position waiting.

Personally, I see tomorrow as leaning bearish. After all, BTC is like a roller coaster, making you sweat with fear. Once the U.S. election on November 5 concludes, the market will likely bounce up and down again, and preemptively shorting might just yield some gains.

A high short in the 72300-74000 range could yield at least 6k points of profit during next month’s pullback wave! If BTC enters the 72300-74000 area and then pulls back, a 1200-point retracement is just the starting price. Today, it’s very likely to test again, and you might wake up to the scent of replenishing your position.

10.30 Master’s Wave Pre-placed Orders:

BTC: Target 74000, 74550. If these two positions are reached, a 1200-point pullback is not a dream. Set the defensive position at 71800; after all, in this market, whoever is timid leaves first, so don’t hold back.

ETH: Target 2686/2699, 2728. Defensive position at 2606. This little brother Ethereum always follows BTC, so there’s no need to get too tangled up.

This article is exclusively planned and published by Master Chen (public account: Coin God Master Chen). For more real-time investment strategies, solutions, spot trading, short, medium, and long-term contract trading techniques, operational skills, and knowledge about candlesticks, you can join Master Chen for learning and communication. A free experience group for fans has been opened, along with community live broadcasts and other quality experience projects!

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