【Review of the results】
The first wave of spot trading at 27,200 Bitcoin continues to make profits, and the second phase of the layout has begun...
![]GM]62U{G(WE%}3C(S_B84D.jpg](https://public.bnbstatic.com/image/pgc/202310/461b21e433e8e7b4d90edb20dd8de029.jpg)
Three stages of bull market:
Phase 1: Bitcoin is the only one that absorbs the blood and rises alone, and most of the altcoins cannot outperform Bitcoin.
Phase 2: ETH and blue-chip coins rise (LINK, SOL...)
Phase 3: Altcoins are in chaos
【Focus on the Fed this week】
(1) October 30th - November 1st, the 7th interest rate meeting of the Federal Reserve. (2) November 2nd, Thursday
◆ 02:00 The Federal Reserve announces its interest rate decision
◆ 02:30 Federal Reserve Chairman Powell holds a monetary policy press conference
A comparison chart of the Federal Reserve's benchmark interest rate and Bitcoin price trends since March 14, 2022. The turning point occurred on July 24, 2023. The results will be announced on the upcoming November 2. How will the price of Bitcoin develop?
No matter what results are announced, it is a fact that Bitcoin has broken through 30,000 points. There may be a pullback in the near future, and support is around US$32,000.
[SOL/XRP full analysis]
SOL fundamentals:
Asset management group VanEck released a Solana valuation report, predicting that the SOL price range is bearish $9.81 to bullish $3,211.28, depending on different market share and revenue forecasts for key industries. VanEck also simulated a scenario where Solana is the first blockchain to host applications with more than 100 million users.
SOL technical aspects:
In the spot class, we entered SOL for the first time at $19 and the second time at $23. From the first entry to $36, the highest profit rate has reached 88.48%.
Looking at the weekly chart, the SOL moving average shows a bullish divergence, and the MACD forms a golden cross above the zero axis. These all indicate that the long-term SOL is still bullish and the shape is intact.
On the daily chart, we look at the performance of SOL. Yesterday, the mid-week positive line was closed, breaking through the previous high of 35 US dollars again. Today, it reached a high of 36.37U. At the same time, the energy columns of the fast and slow lines above the zero axis began to expand again. The upper pressure target is 38-48U. For higher positions, please refer to the point updates of the spot class.
XRP Fundamentals:
There has been speculation that Ripple may be preparing for an IPO in the United States, which, if true, would provide Ripple with the resources and support it needs to aggressively expand its business.
Since cross-border transactions are at the core of Ripple, this is bound to play a positive role. At the same time, many technical indicators of XRP also show that it is gradually recovering, and we may soon see a sharp rise in XRP.
XRP technical analysis:
On the weekly chart, the short-term moving average forms a golden triangle above the medium-term moving average, and shows a bullish arrangement, which is a positive bullish signal; at the same time, the MACD fast and slow lines are about to cross, and the KDJ indicator has already prompted a bullish attack signal when it is near XRP0.50U. At the same time, curve D is about to cross the 50 line. If this action is completed, XRP will have a promising future, with support levels of 0.56U-0.55U, of which 0.55 is the neckline and has been effectively broken. The upper target is 0.62-0.69-0.82U.
【Nine Brother’s Quotes】
K-line language is a result. Whether we know it or not, whether it is happening or will happen in the future, it will be reflected in the K-line language.
In 2022, Brother Jiu put forward a point of view, I wonder if old fans still remember it: rising is the best reason for rising, and falling is the best reason for falling.
The trend has come, don't think about the plunge or the reasons behind it, the K-line tells us everything. As time goes by and prices continue to rise, we will know the answer.
Once a trend is formed, it will not change easily. You just need to follow the trend, ignore all external news, focus on the K-line language, focus on the trading system, and everything else is interference.
【BTC Market Analysis】
The weekly chart has stood firm on the lifeline and formed an accelerating moving average pattern structure on it. The current price is consolidating around 35,000. We need to pay attention to the fact that the price of BTC has approached the upper track of the channel 35,500-36,100U area. If it reaches this area, it is recommended to reduce positions.
Of course, it is also possible that it will not touch this area but choose to fall below the 5-week moving average of $34,000. If it effectively falls below this position, it is also necessary to reduce positions, because BTC may further retreat to the key support level of $32,000.
Risk warning: Bitcoin has two points for reducing positions, one is touching the upper track area of the same channel 35500-36100U, and the other is falling below 34000. The support target below is 32000 points.
Bitcoin's attack on 35,000 points filled the futures gap of Bitcoin in May 2022. The pressure of this gap should not be underestimated. Next, Bitcoin is likely to fluctuate and consolidate between 32,000 and 35,000, accumulating strength and choosing the right time to attack 48,000.
In the spot class, we also revised the target level of Bitcoin to 32,000-35,000-48,000 points yesterday. It has now reached the 35,000 point position. There is a certain pressure point there. Jiu Ge believes that there will be a consolidation trend.
【Position operation suggestions】
If your positions are heavy, your currencies are scattered, and your funds are allocated unreasonably, now is the best time to sort them out. It is recommended that you reduce your positions.
When the tide recedes, we can see who is swimming naked. Every pullback is the best time for us to see the market clearly. It is also the transition node of sector rotation.
【ETH trend analysis】
Since entering October, ETH's performance has been weaker than that of Bitcoin, and as the price of Bitcoin rises, ETH's performance has been mediocre. However, the weekly lifeline has begun to flatten, and last Monday's yang crossed three lines. The 5-week line and the 10-week line are running below the 30-week line, and MACD formed a golden cross below the zero axis.
Conclusion: ETH is gradually becoming stronger and needs to be brewed again this week, waiting for the 5-week and 10-week moving averages to cross the 30-week moving average.
Jiu Ge believes that ETH will have a good performance, because ETH/BTC has reached the key level of 0.053-0.050 and has tested the historical support level of 0.051. ETH's performance this week is still very critical. Bulls must defend 1725, that is, the closing price cannot be lower than 1725.
The 4H chart has been running above the 30-day moving average, with support at 1745-1775 and upper pressure at 1850. 1745 is still the short-term defense for ETH bulls.
Contract Class, Spot Class Registration Consultation WeChat/QQ Group Management
[Review of spot strategy - review of some performance in October]
The highest profit rate of FLOKI is 44%; the highest profit rate of PEPE is 75%;
INJ entered the market at 7.6 and now the price is 14. The profit rate is 81.82%.
SOL19 entry price is now 36, an increase of 88.48%;
LINK7.5 entry price is 11.5, an increase of 51.32%;
TRB48's highest entry price was 120, an increase of 160%;
What is the next potential coin? Which coins will become 100 times more valuable this year? Join the spot class to receive it!
【Introduction to Academy No.7】
We focus on cryptocurrency trading and technical training. Through the combination of theory and practice, we enable the majority of cryptocurrency investors to understand the underlying logic of transactions in a simple and easy-to-understand way and establish and improve their own trading systems.
