In the financial market, some historical experiences are worth our reference, such as October is usually a relatively friendly month. Historical data shows that Bitcoin's performance is often good at this time. Although history will not repeat itself completely, some trends are surprisingly similar. We are now in a four-year bull market cycle, and we are not far from the harvest season, so we must firmly hold our chips.
Yesterday, the A-share market experienced some volatility, falling below 3,250 points, but rebounded at the close, and the overall trend is still relatively controllable. The support at the 3,250 level is still relatively strong, and it is expected to see the A-share market rise above 3,700 points before the end of the year.
As for BTC, it is currently in a high-level consolidation stage. Yesterday, it retested a small gap and temporarily found support, rebounding from 71,500 to 73,000, an increase of 1,500 points. Today, you can continue to pay attention to the opportunities around 71,500 to 71,700.
The exchange rate of Ethereum also saw a brief counterattack yesterday, but the upper shadow was relatively long, indicating that BTC is still the market's main driver in the short term. Nevertheless, Ethereum still has the demand for a rebound in the short term, and is more suitable for short-term operations. It is recommended to position at lower prices, but for medium and long-term investors, they may face a situation of ups and downs. Therefore, when making short-term investments, you should pay attention to buying at low prices, and take profits in time when the price rises too much, to avoid chasing the rally.
While Ethereum is rebounding, the performance of other Altcoins has also seen a wave of increases, but with the pullback of Ethereum, they have also largely closed with long upper shadows. Currently, Altcoins are not the market's main driver, and it is recommended that everyone position at low levels, and avoid chasing high prices.
The Nasdaq index closed lower yesterday, approaching the end of the month, and it remains to be seen whether the market is in a buying frenzy or a short-term rebound. Given the current position of BTC, it is not suitable to chase the high directly, as the high point above is very clear, and the 70,000 level below may see a retest. Therefore, the best strategy is still to position at low prices.
Overall, the market sentiment is gradually improving, and it is recommended that everyone be patient and hold their positions. When making short-term operations, avoid chasing the rally and don't sell at the bottom. The overall direction has been determined, and the retracement is a good opportunity to buy!
Finally, there are actually many things that have not been written in, such as specific opportunities and specific decisions, which are often not something that can be summarized in a single article.
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