【Could the approval of ETFs turn a good thing into a bad thing? 】

Arthur Hayes said that institutional interest in Bitcoin could "foreshadow a situation that we may not like in the end." Asset management companies like BlackRock are actually "agents of the state" and they act according to the instructions of the state. In the ETF system, users use fiat currency to buy derivatives. The asset management company buys some Bitcoin and then gives it to a custodian for safekeeping. Users can't actually use Bitcoin. What users buy is financial assets rather than Bitcoin itself. If the BlackRock ETF becomes too large, it may actually kill Bitcoin, which is the opposite of centralized currency. But if most of the funds end up being kept by one or a few institutions, the consequences will be unimaginable.

ETH and L2 finally broke out!!

OP price trend, spot class order number 202301021021 Jiu Ge clearly mentioned the opening point of OP, this position is the bottom position, if it breaks through 1.42U, then increase the position, if it breaks through 1.83, then you can still increase the position.

On the weekly chart, OP shows an upward trend line and the bottom is gradually rising. At the same time, the price fluctuates and consolidates repeatedly around 1.30, which can also be understood as a wash market.

Jiuge believes that the performance of OP weekly chart is very likely to repeat the previous trend chart from 0.7 to 3.2U. If the double bottom pattern breaks through the neckline, it will take off. OP has also been in a double bottom pattern since June 15, 23, and the upper big pressure level is also the neckline at 1.83U. Once OP is broken, it will usher in a larger increase.

Why did Brother Jiu choose to gradually increase his holdings after a breakthrough?

Instead of adding to your position every time the price falls back to get chips at a lower price?

Logic: Persist in doing the right thing and stop doing the wrong thing.

If after we buy a coin, the price not only does not move in the direction we expected, but instead moves in the opposite direction of our expectations, it means that we are wrong. At this time, if the stop loss is triggered, we should exit the market instead of adding positions and increasing the risk.

Only when the price moves in the direction we expected, it means we are right. Then we can consider re-entering the market every time there is a breakthrough, until the trend goes bad and we leave the market completely.

Let the profits fly for a while, and don’t be so anxious to take profits and leave. If a trend emerges, the best strategy is to persist and hold on, rather than being anxious every day, fearing that the profits will fly away!

[Recent performance review]

The first wave of spot trading at 27,200 Bitcoin continues to make profits, and the second phase of the layout has begun...

There are three stages in the bull market. Do you think ETH has entered the second stage of rebound?

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

[BTC breaks through again after 4 years]

The monthly chart of BTC also performs very well, with an increase of 28% last week, which is also a good performance in the past decade. So what is the price outlook for November? Will it continue to rise or fall back?

The monthly line of Bitcoin has penetrated three lines with one positive line, and the May-October line has formed a golden cross above the 30-month line. This is a positive trend of accelerating the rise. At the same time, the golden cross of MACD below the zero axis is also a manifestation of the bulls starting to exert their strength, and KDJ turns upward again.

Jiu Ge retrieved the price trend chart of Bitcoin on the monthly chart for the past ten years. In November 2015, the price of Bitcoin stood above the 30-month line, and Bitcoin has never fallen below the 30-month line since then. It has risen along the May line until the peak of 20,000 points in 2017. At that time, Bitcoin rose from 400 points to 20,000 points, which was a 50-fold increase.

In April 2019, Bitcoin also experienced the same phenomenon of crossing the 30-month moving average three times. After that, the price rose from 4,000 points to 69,000 points along the 30-month line in two years, an increase of 11 times.

After a lapse of 4 years, Bitcoin has once again seen a monthly chart of one yang penetrating three. Jiu Ge believes that Bitcoin is now in the early stages of a bull market, and it is the real early stages.

Although history will not repeat itself, it will certainly recur, just with different versions, different characters, and different stories. If you are willing to cross this bull market with Brother Jiu, then join us.

On the daily chart, Bitcoin MACD fast and slow lines have formed a death cross, and a correction in the bull market will begin. Bitcoin is consolidating at a high level with an amplitude of 33,000-36,000U, of which 33,000 is the lifeline.

Where should we pay attention to the support level below? In the short term, we need to pay attention to the support level of 34146U. The target level after breaking is 32152 US dollars, and this position is our position to increase and cover positions. Wait patiently for the reappearance of trading signals.

The revised target positions of Bitcoin are 32000-35000-48000 points. It has already reached 35000 points. There is a certain pressure point there. Jiu Ge believes that there will be a consolidation trend in the 32000-36000 area.

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 34140. The support target below is 32000 points. This view is still valid.

【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 out, and last Monday's yang line crossed three lines. The 5-week line and the 10-week line have crossed the 30-week line, and the MACD fast line has crossed the zero axis.

Last week's closing line has confirmed the formation of a golden triangle pattern, which is a positive offensive signal. Next, ETH will lead the altcoin to start a compensatory rally.

The daily chart has broken through the downward trend line of 1880. Those who previously added positions at 1750 are still holding on, and those who entered the market at 1626 are holding on to the bottom positions. The next target will test 2020U.

【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 $ETH $XRP