The financial market experienced significant volatility on Thursday, but overall performance was positive. The US dollar index and the US 10-year Treasury yield fell, opening the door for capital inflows into risk assets.
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In the crypto market, Bitcoin broke through the $68,000 resistance level after the midday session, and the bulls are now gathering strength to attack $69,000. As of the time of writing, Bitcoin's trading price is $68,154, up 2.55% in the last 24 hours.
Over the past month, the environment of rate cuts and the election has allowed BTC to rise from $60,000 to nearly $70,000, with MEME coins soaring.
ETF spot inflows have also been continuously strong, and the trend is very bullish, with most Altcoins also approaching their bottoms, marking the start of a new cycle.
Here, we still see BTC heading to new highs, with a batch of trading opportunities emerging.
If you don't understand the key points of the main force's washing and unloading, it will be difficult for you to get rich in the crypto world.
Here are some key techniques:
1- Focus on trading volume: Trading volume usually shrinks during washing, and expands during unloading.
2- Pay attention to the price level of the coin: The main force usually washes the price when it rises about 30%, and needs to be vigilant about the possibility of unloading when the increase exceeds 60%.
3- Analyze the intraday chart: The intraday chart often jumps up and down during washing, while it is relatively stable during unloading.
The current Altcoin market performance varies, and they have entered their own cycle bottom consolidation stage at different times. When buying the dips of Altcoins, it is also necessary to judge whether the Altcoin has entered its own bottom.
Is the Altcoin season still here?
1. The market of sector rotation will definitely continue, don't worry
2. If BTC doesn't hit a new high, major Altcoin market makers won't dare to act rashly, only a few coins are being pulled up, while most of the fundamentals are on the ground
3. Don't be anxious to switch just because you see others' coins going up (unless the risk-reward ratio is higher)
In the future, as soon as you sell, it will start to rise, and as soon as you chase the rise, it will start to correct, and your mentality will be blown up
Manage your position size well
November 1st US unemployment rate data (economic recession good or bad data)
November 5th US President (Trump: Harris)
November 8th Fed's second rate cut (currently a high probability of a 25 basis point rate cut)
In the middle, there is also Apple's earnings report on November 1st.
Remember the timeline, as these super news events such as the president, rate cuts, etc. approach, the market rhythm will become faster and faster, and the late bull market will also become faster and faster, with rapid rises and sudden crashes, so be sure to make a good trading plan.
Conclusion
Future Outlook
October is about to end, and the non-farm payroll data on November 1st may be the key to the breakthrough, because after the non-farm data on the 5th, it will be the general election, and I believe the data will not look bad, after all, this is the key period of the 4-year power transfer, even if it is just superficial work, it needs to be maintained. Bitcoin's current trend is basically linked to the US stock market, so if the US stock market continues to hit new highs, then Bitcoin will naturally break through the previous high and fly to higher levels, so there is a high probability that Bitcoin will break through the previous high of $73,880 in November and reach $75,000, or even $80,000, so brothers, let's welcome the spring of Bitcoin together.
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