Retail investors just opened accounts yesterday and deposited funds today, only to see their investments hit the daily limit. Is this a case of "the bus leaving the station"? Has the bull market in the A-shares that lasted for a week come to an end?
Whether in the crypto world or the stock market, new retail investors who want to make money need to move fast, and leave before the bubble bursts. The financial market cannot achieve common prosperity - every penny you make is someone else's loss. The opportunities you think you have are the traps set up by others. When you are FOMO-ing, take a moment to reflect on how many opportunities you have missed in your life.
Today's market analysis:
BTC
BTC is still ranging on the 4-hour chart, and the daily chart shows an intention to go up but is being suppressed. Today, continue to watch the top and bottom of the ranging area.
Pay attention to the 62,640 level for BTC. Only if it can consolidate above this level on the 4-hour chart will it break out of the 4-hour ranging resistance, and the market will continue to move up. The upside targets/resistance levels to watch are around 63,174 - 63,890 - 64,455.
If it fails to break through the ranging resistance today, the support level to watch is 61,850. As long as it doesn't break below this level, the 4-hour chart will continue to fluctuate in the range, and the lower timeframes may see a rebound. Below this support, watch the levels around 61,160 - 60,560 - 59,900.
ETH
Ethereum saw a small-scale rally overnight to approach the first resistance level I mentioned yesterday, but has now returned to ranging on the 4-hour chart. On the lower timeframes, it is fluctuating upwards.
Today, watch the 2,440 level. Only if it can consolidate above this level on the 1/2/4-hour charts will the market rebound upwards. The upside targets/resistance levels to watch are around 2,474 - 2,495 - 2,512.
If it fails to hold 2,440 today, it means the rebound lacks momentum. The support to watch is the 2,400 level at the bottom of the ranging area. As long as it holds this level, the lower timeframes may see a rebound. Below this support, watch the levels around 2,380 - 2,351 - 2,330.
Key focuses this week:
Economic data release:
On October 10, the minutes of the Federal Reserve meeting will be released.
September US inflation data will be released.
Financial giants' earnings reports:
On October 11, institutions such as BlackRock and JPMorgan Chase will release their Q3 earnings reports.
Middle East situation:
Monitor the developments in the Middle East, which may impact the crypto market.
FTX payout plan:
On October 7, the Delaware bankruptcy court approved FTX's restructuring plan.
98% of creditors will receive at least 118% compensation (settled in cash), and the value of FTT is deemed to be zero.
Market sentiment:
Although the crypto market is in a bull market, the market performance is lackluster, and some investors have turned to the A-share market.
Investors tend to be impulsive during a bull market, and should treat market opportunities rationally and focus on investments they can understand.
Crypto liquidity drying up, MEME takes over!
The MEME market has been dominating the crypto space throughout 2024; it seems that these days NEIRO has become the crypto investment target that everyone believes will make them rich.
The NEIRO token provides an interesting choice for investors who love meme coins and crypto assets. Its launch not only pays tribute to Kabosu, but also reflects the market's continued interest in meme coins. However, investors must remain vigilant when making decisions, conduct comprehensive research, and ensure they are sensitive to market dynamics.
This morning, NEIRO saw a pullback, but the trading volume of the decline is not as large as the previous upward move, and the trading volume of the decline is gradually decreasing, indicating that the selling pressure is effective, and it is mainly retail investors taking profits, rather than the main force selling. So NEIRO is unlikely to break below the 0.00157 support level, and is expected to consolidate for a while before continuing to rise. Moreover, NEIRO's trend is very healthy and should still have significant upside potential.
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