Master Translator Discusses Hot Topics:
Yesterday, BTC saw a slight decline until the early morning, and many retail investor friends immediately entered panic mode. They are worried that the bull market has cooled down or already entered a correction phase. For now, the master can only say that the outcome is unknown, but the weekend prices really don't need to be taken too seriously.
After all, the market liquidity on weekends is extremely low, and a little capital can easily manipulate the market, and a little selling pressure can also crash the market. As for whether it is the Altcoin frenzy season, it depends on the attitude of US investors after the US stock market opens next week.
However, it is worth noting that if Ethereum can maintain a rise of more than 5% and surpass BTC, then we can have a little anticipation.
In addition, Michael Saylor said in an interview that he had raised $10 billion in a month to buy BTC! Arkham data shows that MSTR still has $3 billion ready to buy the BTC bottom.
Although this part of the funds may not be directly poured into the secondary market, and may go through OTC and other channels, if Saylor one day announces: "I bought 3 billion BTC!", the story will be really exciting.
On the other hand, the big shot BlackRock has also been busy. In the past five working days, it has frantically accumulated 21,294 BTCs, spending more than $2 billion. It makes us exclaim that they are professionals! However, the overall position structure has not changed much, and there are no signs of panic selling.
Instead, more BTC prices are approaching $98,000 to $99,000. The master's simple translation is that at this price level, a large number of investors are rushing to get on board, and the total holdings have exceeded 714,000 BTCs.
And the range from $87,000 to $96,000 only has a total of 880,000 BTCs, which means that short-term investors are all moving forward. As long as the market sentiment does not break open, the possibility of a sharp pullback is not high.
Speaking of this, the master almost forgot to mock! Isn't the highest price of $99,660 on the weekend obviously manipulated by the whales? Is it really the divine work of nature? Ink is not the top, the top is not ink! Everything is up to fate, don't panic at the top, don't rush at the bottom~
Finally, let's talk about the recent unilateral uptrend. For futures trading, there are two points: catch the retracement to add positions, and take profits on the rebound. Because in a unilateral uptrend, there may be no major correction for several months, and the daily small retracements are opportunities. Focusing on too large fluctuations will only lead to missing the pump, and the more it goes up, the more confused you will be.
Why not hold on? Catch the retracements to add positions every day, and compound interest will make the profits soar! If you can make 2 by holding from 1, but by catching the retracements and adding positions, the profit will directly become 3+, an increase of 33%. Accumulating small gains is the truth.
If you cannot compound in a unilateral market, then it will be even more difficult to enter during a major correction. Human nature is like this: at high levels, the scenery at low levels looks beautiful, and at low levels, the high levels seem unreachable. Those who miss the pump are always afraid, and always hesitate in the face of opportunities.
So during a unilateral uptrend, don't chase the highs, and don't miss the small swings. To summarize in one sentence: don't hesitate, catch the retracements, take profits on the rebounds, and trade steadily!
Master's Trend Outlook:
BTC failed to break through the $100,000 high, and is currently hovering around $98,000 after a sharp correction yesterday. In the short term, the following two points need to be paid attention to:
On the other hand, the upward momentum of BTC has weakened, and the influence of Ethereum is increasing. At the same time, Altcoins have seen a rebound, and the market capitalization of BTC is also declining.
Resistance Levels:
First Resistance: $98,800
Second Resistance: $99,300
Support Levels:
First Support: $97,900
Second Support: $97,300
Suggestions for Today:
Before BTC touches the first support level, it can be seen as a normal adjustment. The rebound expectation can still be maintained, and the trend of the 1-hour 20-day moving average needs to be monitored. If it breaks below the first support level, it needs to ensure that the candlestick closes above the previous day's low (i.e. the second support level) to judge that the low has moved up and maintain the rebound expectation.
Today, Sunday, you can maintain a short-term rebound expectation and look for trading opportunities. The rapid decline can be seen as the performance of selling pressure, which may actually be an opportunity to enter the market.
Before a strong uptrend is launched, large fluctuations at high levels accompanied by corrections are relatively common, so it is recommended to set key support levels before conducting trading operations.
11.24 Master's Swing Trading Placements:
Long Entry: 97300 with light position, or directly long at around 96666 if it retests, Target: 98800-99300
Short Entry: Not Considered
The content of this article is exclusively planned and published by Master Chen (public account: Coin Master Chen). Master Chen is the same name across all platforms. If you want to learn more about real-time investment strategies, unwinding, spot, short, medium and long-term contract trading techniques, operation skills and K-line knowledge, you can join Master Chen's learning and exchange group. The group has opened a free fan experience group, live community and other high-quality experience projects!
Warm Reminder: The only public account (the above image) that this article is written by is Master Chen. All other advertisements at the end of the article and in the comments are not related to the author! Please be careful to distinguish the true and false, thank you for reading.
