Master Discusses Hot Topics:
Yesterday, Bitcoin experienced a slight decline until the early morning, resulting in many retail investors immediately entering a state of panic. They are worried whether the bull market has cooled off or if we have already entered a correction phase. For now, the Master can only say that the outcome is unknown, but there is no need to take the weekend prices too seriously.
After all, the market's liquidity over the weekend is absurdly low; just a little capital can pump the price, and a small amount of selling can crash it. As for whether it is the season for altcoin festivities, we will have to see the attitude of American investors after the U.S. stock market opens next week.
However, it is worth noting that if Ethereum can maintain a rise of over 5% and surpass Bitcoin, then we can look forward to it a bit.
Additionally, Michael Saylor mentioned in an interview that he raised $10 billion in a month to buy Bitcoin! Arkham data shows that MSTR still has $3 billion ready to buy the dip on BTC.
Although this portion of funds may not directly hit the secondary market, it is likely to go through OTC routes, but if Saylor announces one day, "I spent $3 billion to buy BTC!", then the story will be truly exciting.
On the other hand, big player BlackRock has also been busy, acquiring 21,294 BTC within five working days this week, spending over $2 billion. We can't help but exclaim how knowledgeable they are! However, the overall chip structure hasn't changed much, and there are no signs of panic selling.
Instead, more Bitcoin prices are converging towards 98K to 99K. The Master simply translates this as: at this price level, a large number of investors are getting on board, with the total holdings exceeding 714,000 BTC.
From the range of 87K to 96K, there are only 880,000 BTC in total, indicating that short-term investors are moving forward. As long as market sentiment doesn't break apart, the possibility of a significant pullback is low.
Speaking of which, the Master almost forgot to complain! I mean, the highest Bitcoin price of 99660 over the weekend—don't you think that's intentional by the market makers? Is it really the work of nature? It's not about being cautious; it's about being decisive! Everything is left to fate; don't panic at the peak, and don't rush at the bottom~
Finally, let's talk about the recent one-sided upward trend. For contract operations, there are two points: catch the pullback to add positions and take profits on rebounds. Because when the market rises unilaterally, there may not be a significant pullback for months, and daily small pullbacks are opportunities; focusing too much on large fluctuations will only lead to missing out, becoming more confused as it rises.
Why not just hold? By catching pullbacks to add positions daily, compound interest can make profits soar! From 1 to 3, you earn 2, but by adding on pullbacks, profits can directly become 3+, earning an additional 33%. Accumulating small amounts into large sums is the truth.
If you cannot compound profits in a one-sided market, then it will be even harder to act during a significant pullback. Human nature is such: at high positions, the low positions look picturesque, while at low positions, the high positions seem unreachable. Those who miss out are always fearful, hesitating in front of opportunities.
So, during every one-sided market, do not chase highs, but do not miss small fluctuations either. To summarize: don’t hesitate, add positions on pullbacks, take profits on rebounds, and operate steadily!
Master Looks at Trends:
Bitcoin has not been able to break through the $100,000 high point and is currently hovering around 98K after a significant adjustment yesterday. From a short-term perspective, we need to pay attention to the following two points:
- Can it break the short-term downtrend line and turn into an uptrend?
- Will it rise again after further correction? If it drops again, the low point may further decline.
On the other hand, Bitcoin's upward momentum has weakened, while Ethereum's influence is increasing. At the same time, there are signs of a rebound in altcoins, and Bitcoin's market cap percentage is also decreasing.
Resistance Levels:
First Resistance Level: 98800
Second Resistance Level: 99300
Support Levels:
First Support Level: 97900
Second Support Level: 97300
Today's Suggestions:
Before Bitcoin touches the first support level, it can be considered a normal adjustment. The rebound expectation can still be maintained, while attention should be paid to the 20-day moving average on the 1-hour chart. If it breaks below the first support level, it is necessary to ensure that the K-line closes above yesterday's low (i.e., the second support level) to determine if the low point has moved up and maintain the rebound expectation.
Today, being Sunday, we can maintain a rebound expectation in the short term and look for trading opportunities. The rapid decline can be seen as a sign of selling pressure, which may actually be an entry opportunity.
Before a strong trend starts, it is common to see significant fluctuations at high levels accompanied by corrections, so it is recommended to set key support levels before executing trades.
11.24 Master’s Band Strategy:
Long Entry Reference: 97300 light position long; if it pulls back to around 96666, go long directly; target 98800-99300
Short Entry Reference: Not applicable
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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