Master Discusses Hot Topics:
The news that Gensler will resign as SEC Chairman on January 20 next year feels like a mountain pressing down on the crypto industry is finally about to be lifted. For more than the past two years, this big brother has been performing a "high-pressure regulatory undercover operation."
Now that the news of his resignation has come out, the entire crypto community is probably sighing in relief, as if they have seen the first ray of sunshine in the crypto spring. In the coming years, could we really welcome an industry environment of "friendly innovation"? Don't get too excited; we still need to see who the successor will be.
Yesterday at noon, Master posted a line in his social circle: If it breaks 100K tonight, consider me defeated, but as of now, it still hasn't broken through. But today is different; it's like an arrow on the string that must be released!
Regarding the current market situation, we need to talk about human nature. First, for friends holding Bitcoin spot positions, they must have been psychologically tortured to the point of collapse. Should they sell? What if it skyrockets? If they don't sell, will it go up and then come crashing down, leaving them with nothing?
For this dilemma, Master has a simple understanding: Bitcoin won't just shoot up like a rocket, nor will it suddenly drop like a free fall; after all, it is the gold of the industry. Currently, there are two possibilities:
After the popularization of ETFs, circulation decreases, and it steadily integrates into traditional finance, leading to a bulldozer-like long bull market—slow bulls are the real bulls.
The old routine forms an M-top, creating a wave market, but the logic of the bull market remains unchanged: in a bull market, there is no top, and one does not short. For those really afraid of missing out, they can look for a secondary high point to sell, at least leaving some room.
So far, this morning, Bitcoin has risen above 99K (is the dream within reach?), and after a pullback, its trend is relatively independent, but still somewhat linked to the U.S. stock market. The U.S. dollar index is also quite strong, reaching a new high since last October, giving the market a taste of the "Trump bull market."
With this logic in play, Bitcoin, as a safe-haven asset, naturally follows suit, and Trump has been praising the crypto industry in various ways, ensuring that the market speculation cycle will not stop. Ethereum continues to attract capital, and after a right-side pullback, it’s a straightforward and aggressive operational logic to enter the market.
Additionally, continuing from what Master mentioned yesterday about altcoins and Ethereum, the core reason altcoins aren't rising? Ethereum hasn't surged alongside Bitcoin. It is the engine of altcoins; if it doesn't lead the way, who can start?
Ethereum has recently been stuck in an awkward position, neither up nor down. Some fans asked Master recently: Will it surge to 2800? Honestly, I don't know. But with market sentiment so low, if any positive news pops up, Ethereum will directly lead a group of altcoin projects to perform a grand show.
However, we can't be too confident; after all, the crypto space is so deep that even dragons need diving gear. To sum it up: we Chinese believe in "70% hard work, 30% fate."
Finally, let's talk about the topic everyone is most concerned about: Bitcoin at 100K. This question is actually very simple, simple enough to require just one logic: even if the main force is poor, they won't miss these 600 points.
So for this wave of market, we can just sit back and watch. Don't rush to steal the spotlight; observe how the main force creates the script, and then quietly plan your short-term trading strategy.
Master Looks at Trends:
With Gary Gensler (SEC Chairman), who has always held a hostile attitude towards cryptocurrencies, announcing his resignation, Bitcoin is showing a rebound trend again. From the current trend, as long as it maintains the current rebound pace, hitting 100,000 is entirely possible, so we can continue to hold a rebound view.
However, according to on-chain data, when the price approaches historical highs, the following indicators have begun to release warning signals:
- MVRV (Market Value to Realized Value Ratio)
- Fear and Greed Index
- New capital inflow
- Activity of long-dormant tokens
- Fund flows between exchanges
These signals do not suggest that a crash is imminent, but rather remind investors to be cautious of potential short-term pullbacks at high levels and to remain vigilant.
Resistance Levels Reference:
First Resistance Level: 100000
Second Resistance Level: 98900
Support Levels Reference:
First Support Level: 98100
Second Support Level: 97700
Today's Suggestions:
In the current upward trend, Master does not recommend waiting for a significant pullback for ultra-short-term operations, but rather positioning within a small pullback range is more appropriate.
Due to the strong rebound of Bitcoin, the support levels are closely distributed. As long as Bitcoin holds the 98K support, we continue to maintain a rebound view while closely monitoring the 20-day moving average as a reference.
Even if the first support level is broken, as long as it remains within the upper box range, we can set 97.7K as a key support and view it as a short-term entry opportunity. If the price rebounds again and breaks through the resistance level, that resistance level can be converted into a new support level for trading operations.
Master personally expects Bitcoin to continue rebounding to around 100,000 after the U.S. stock market opens tonight, but be aware that the psychological resistance level of 100,000 may bring about a short-term pullback, allowing for adjustments in positions and trading strategies.
11.22 Master’s Wave Trading Plan:
Long Entry Reference: Light long near 97700; if it pulls back to around 96700, go long directly; target 98900-100000
Short Entry Reference: Don't think about it for now
This article is exclusively planned and published by Master Chen (public account: Coin God Master Chen). Master Chen is the same name across the internet. 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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