The price of Bitcoin has been steadily rising since mid-September, with the price of Bitcoin fluctuating between $69,000 and $65,000 over the past week, and at one point attempting to break through $70,000. However, the investigation of USDT and geopolitical conflicts have led to market crashes. Overall, Bitcoin is still healthy at the daily level and remains the most stable currency in the entire market, with a weekly decline of only 0.18%. More information Crypto Dumplings
Yesterday, BTC rose slightly, briefly breaking through $68,000, and from a technical perspective, the 20-day EMA has risen to around $66,000, indicating that the daily bullish trend is still weakly maintained, and the golden cross has already formed at the weekly level, so it is recommended to hold and remain confident, and continue to look for further upside.
In summary, the daily level is above a healthy level, and the focus during the day is on the resistance zone above $68,000. For those with positions, hold on, as the long-term outlook has not weakened. The support level during the day is $66,800-$67,300, and the resistance level is $68,500-$69,000.
Currently, BTC is shining alone, and investors are turning their attention and funds to BTC, while the expected alt season has not yet appeared, but rather has stagnated. For the current alt market, it is suggested to hold SATS patiently, and consider clearing positions around 50, hold PEOPLE in the medium term, and maintain positions in FTM.
How will the market trend going forward?
The market can only break out of the $65,000-$70,000 range to establish a new trend, but I cannot predict it at the moment, as the market is highly divided, and next week's news, including the US election on November 5th and the election results on November 6th, will definitely elicit a market reaction, which may be an opportunity to end the consolidation.
Although I subjectively believe that Trump has a good chance of winning, which would be a long-term positive for Bitcoin, the short-term market reaction is still unknown, as well as how many measures Trump can take to rescue the economic recession and the ever-increasing government debt after taking office, which is a confusing situation, with high unemployment on one side and high inflation on the other.
Of course, these are too complex issues for us to fully understand, but regardless of who takes office in the future or how the economy performs, we only need to focus on inflation, unemployment, and the pace of interest rate cuts by the Fed, and then act accordingly.
The following events are worth watching this week, beware of being trapped!
It is worth mentioning that this week is a macro big week, with the non-farm payroll data and unemployment rate data on Friday worth watching, as the last important economic data before the election, which may cause volatility on Thursday and Friday. The market will be very volatile this week.
Thursday: September core PCE, weekly jobless claims, and the Bank of Japan's monetary policy meeting. The last day of the month, bearish. Complete all long positions a day in advance.
Friday: Non-farm payrolls, the last non-farm before the election.
The volatility will be very intense, with a focus on low-risk long positions and reduced positions. If there is a bullish breakout with volume, do not chase. For example, around $70,000, which is a high selling area, there will inevitably be a rapid plunge, and the safest way is to add positions after the plunge.
The big trend is about to start! How to adjust your portfolio to stronger currencies now? Learn to adapt to the market!
Many people still hold various shit coins, but have already lost a lot after the previous round, and they don't dare to move, but if they do, they are afraid of switching back and forth, and the result is no better than not switching.
In the current market environment, how should one adjust their portfolio to be safer?
At this stage, one sentence: jumping off the car is a matter of life and death, and it is safer to wait for the next suitable time to get on the car after getting off.
The current trend is clearly a wide range consolidation, and in my opinion, there will be an easy money-making opportunity in the next 3 months or so.
Selecting the right targets is crucial, and if you are already in a pile of shit coins, a better plan is to sell when one of them suddenly spikes, without rushing to buy in.
Wait for the next clear strategy, and then make a move when you are sure, this is the normal operation!
Otherwise, many people now just hold some coins in a muddle-headed way, and then in a sudden impulse, they also switch to some other coins in a muddle-headed way, and the fundamental problem has not been solved!
The reason why some shit coins were so badly trapped before was often because there was no clear trading strategy, and the stop-loss and take-profit were not properly executed, and the risk was not well controlled.
Adjusting the portfolio needs to solve two things: how to make the next decision clearer, and how to have a higher probability of the next ride going faster.
That requires a huge gap in timing to achieve!
So, remember! If you want to adjust your portfolio, first cash out and wait! There will be better times to come!
In summary, the market has reached this point, and we only need to be ready to embrace it at any time. When the soldiers come, they will be blocked, and when the water comes, the earth will cover it. As long as the funds on top of Bitcoin have not fled, the market will still be there, we just need to be patient and keep an eye on the projects that the team is quietly working on and steadily advancing, then there is no need to worry.
That's it for the article, if you're interested, you can follow me, and I'll do more detailed analysis in the exchange group, if you want to join my circle, feel free to chat with me or follow my homepage! Welcome to join us and grasp the next hot spot together to maximize investment returns
