Master Discusses Hot Topics:

Continuing from yesterday's article, Bitcoin has reached 72,450 today, marking four consecutive days of gains. Market sentiment is at an all-time high, with everyone bullish. However, those with a rational mindset can already sense a potential pullback. There are very few bears left, as anyone trying to be bearish now, like Master did earlier, is likely to face backlash.

Master believes a pullback is on the way, with 69,500 to 70,000 being the last stronghold in the short term. For those with medium to long-term bullish plans, this is a good time to enter the market with confidence.

The buying volume has decreased, and the short-term targets are nearly met; it’s time to rest and prepare for the next push to break through 74,000. If the bears exert a bit of pressure, a pullback won't be difficult.

At this point, Master wants to mention that there are always some "old hands" in the market who love to use ambiguous language to create a mystique, saying things like "the market is rising as expected, congratulations to those who are profiting"—but they never clarify whose profits those are…

Here, there are no vague terms like "maybe" or "possibly." Buying is buying, selling is selling, bullish is bullish, and bearish is bearish. The thought process is clear, and the actions are decisive!

I only share my own market analysis logic, without relying on deception to please others, avoiding mysticism, and not creating an air of secrecy. In the trading market, clarity is key; less fluff and more substantial sharing of insights.

Additionally, many retail investors are feeling anxious, wanting to enter the market while still holding positions, but the market is currently in a bullish cycle. Chasing highs now is like "catching a train"—it’s easy to get trapped. The mindset is crucial, and Master offers you two suggestions:

1. Wait for a Pullback: Pray for the market to give you an entry opportunity; don’t jump in directly. Typically, the market pretends to take off and then pulls back when everyone gets excited.

The short-term pullback bottom is around 69,500, with a possible extreme of 65,000. It’s nearly impossible to drop below 60,000 again. The crypto market is a long race; if you miss the best entry point this time, ask yourself why, learn from it, and you’ll be more accurate next time.

2. Enter on the Right Side: Opportunities for left-side bottom fishing are becoming fewer. If Bitcoin firmly holds above 70,000 and accumulates enough chips, the bottom is basically established, and it’s wise to look for entry opportunities then.

Many people hesitate, recalling their indecision when Bitcoin was in the 50s or even 40s, only to regret it later. If God gives another chance… But think about it, when Bitcoin was at 15,000, we didn’t go all in, and now regretting it is pointless.

As for Ethereum, Master remains bearish in the medium to long term and expects it to drop back to 2,000 USD.

Master Looks at Trends:

After a slight adjustment yesterday, Bitcoin is now gearing up for a comeback! This rebound feels a bit like a "king's return," with net inflows rising and buying pressure strong.

As long as it breaks through the high point, this trend will stabilize. However, if the high point cannot hold, everyone should be cautious about profit-taking.

Currently, it’s resting slightly in the selling pressure zone; if it can break through the resistance, our confidence will rise just like the candlestick chart. Conversely, if it gets pushed back, don’t panic; take a step back and see how it attempts to break through again!

Changes in trading volume are a signal; if volume increases when breaking through resistance, it’s basically time to pop open a bottle of mineral water to celebrate.

The current market situation is decent; as long as there are no major shocks from above, we can maintain a mindset of buying low and seizing opportunities for low buys and high sells.

Resistance Levels:

First Resistance Level: 72,900

Second Resistance Level: 73,700

Support Levels:

First Support Level: 72,000

Second Support Level: 71,800

Today's Trading Suggestions:

Today, we will still focus on the support level of 71.8K from yesterday. Bitcoin is currently firmly sitting above 72K, like a small stool, comfortably settled, ready for another wave of rebound.

Enter at lower levels, maintain a steady mindset; as long as the market doesn’t pull any tricks, there will definitely be opportunities to buy on dips! Just observe the trading volume at the short-term lows, wait for the right moment, and don’t be greedy.

10.31 Master’s Wave Trading Orders:

Long Entry Reference: 72,000 light long, 71,500-71,800 long, stop loss at 71,000, target: 72,200-72,900

Short Entry Reference: 72,900-73,200 short, stop loss at 73,700, target: 72,200-71,800

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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