Master Translator Discusses Hot Topics:
Today is Saturday, let's review if everyone was a little excited last week? It's true that Bitcoin, Ethereum, and some Altcoins have risen, but most of you are discussing whether we're going to the moon!
But don't forget, it's still 70% away from the historical high of $4,870! By the time we get there, I bet the cabbage patch in your house will have been harvested several times.
Let's talk about the meme of predicting the market trend, haha, do people really believe in this? In the crypto world, technical analysts make a flurry of moves, but can technical analysis really be used? The answer is actually quite absurd, you use technical analysis to look at the market, while the big players use it to harvest the retail investors. Precisely harvested.
Understand it now? In this unregulated market, when the big players are in a good mood, they'll pump, when they're in a bad mood, they'll dump, it might even be because their pet laid an egg, or the big players just woke up and wanted to exercise, can you predict that?
Let's also talk about fundamentals. You hear a lot about "good projects" in the crypto world, but how many of them can really go up? You know the answer! Many people are still immersed in the fantasy that they will go up in the future, but the fact is that the ups and downs in the crypto world have nothing to do with the fundamentals you imagine.
Surrounded by a bunch of harvested retail investors, the only way to avoid being harvested even more miserably is to gain more awareness and learn more. Otherwise, by the time you realize how you were harvested, you'll already be at the level of a cabbage patch.
During the voice call with my fans yesterday, I shared my own point of view. Many people make judgments based on MACD, RSI, and KDJ when doing analysis, but you need to know that this kind of indicator-based analysis is something that everyone can see and learn.
From the perspective of market competition, if everyone can make money, then who is losing money? After all, the crypto world does not create wealth, it is only a process of wealth transfer.
In the end, don't fantasize about the shortcut to getting rich in the crypto world, no one can predict the market, the ups and downs are determined by the mood and interests of the big players. Listen less to KOLs' nonsense, and look less at so-called "market forecasts".
Master Translator Sees the Trend:
The trend of Bitcoin is not much different from the previous day, currently hovering around 76.3K after retesting the high point. In the short term, you can reset the downward trend support line and continue trading following the 20-day moving average.
Due to the continued Trump effect, Bitcoin is constantly refreshing its historical high, you can pay attention to the psychological resistance level above and expect another test of the high.
Resistance Level Reference:
First Resistance: 76,600
Second Resistance: 77,300
Support Level Reference:
First Support: 75,800
Second Support: 75,400
Today's Trading Suggestion:
The current goal is to break through the resistance and stabilize, after the resistance is broken, it will turn into support, so it is recommended to gradually adjust the support level for risk management.
You can also pay attention to the trend of the 20-day moving average, although it may temporarily fall below, there is also a high probability of forming a long lower shadow, so 75.8K will be an important support level for trading operations.
With Bitcoin constantly refreshing its highs, the rebound view can be maintained, and opportunities can be sought around the marked support levels. Due to the potentially lower volatility on weekends, the Master Translator suggests patiently observing and then trading, looking for positions with high profit-loss ratios that can be completed quickly.
11.9 Master Translator's Swing Trade Preset:
Long Entry: 75,400-75,800 Target: 76,600-77,300
Short Entry: 77,600-78,000 Target: 76,600-75,800
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