10.29 Trading ideas — for reference only. There are data releases tonight, so be sure to check the market.
BTC: Last night, after interest rates came in as expected, it surged to the 21-day moving average. This morning, it was sold off hard and hit the limit down.
A classic case of good news already priced in, with no further rally. This is a “sell the news” market. 80,600 is the dividing line between bulls and bears. If it rebounds to around 80,500, you can continue to short.
Wait for Black Friday. There are two more negative macro catalysts ahead: the U.S. midterm elections on November 3, and the cash drain from Anthropic’s anticipated IPO around November 10.
After these two macro events play out, we’ll see where the market lands. The extreme downside is around 76,000; consider buying the dip there. Be patient.
The market is too heavily leveraged. Spot buying can’t support a major rally from here; another shakeout is needed.
XAU: Stand aside for now. Watch to see whether 3,979 holds. If it doesn’t, a false break below 3,950 would be even better—a chance to buy a strong rebound.
Chips, memory, and rocket stocks in the U.S. market have basically completed their rebounds. SPCX’s market maker has started distributing; look to establish a swing short around 145. For MU, watch for a second test near 990; short if it can’t break above.
Golden rules: Protect your principal, set stop-losses, and reduce your exposure.
Intraday trading Support Resistance
BTC 78500~ 79178 83000~84800
ETH 2263~ 2389 2455~2500
SOL 96~98 106~109
HYPE 70~73 80~83
BTC: Last night, after interest rates came in as expected, it surged to the 21-day moving average. This morning, it was sold off hard and hit the limit down.
A classic case of good news already priced in, with no further rally. This is a “sell the news” market. 80,600 is the dividing line between bulls and bears. If it rebounds to around 80,500, you can continue to short.
Wait for Black Friday. There are two more negative macro catalysts ahead: the U.S. midterm elections on November 3, and the cash drain from Anthropic’s anticipated IPO around November 10.
After these two macro events play out, we’ll see where the market lands. The extreme downside is around 76,000; consider buying the dip there. Be patient.
The market is too heavily leveraged. Spot buying can’t support a major rally from here; another shakeout is needed.
XAU: Stand aside for now. Watch to see whether 3,979 holds. If it doesn’t, a false break below 3,950 would be even better—a chance to buy a strong rebound.
Chips, memory, and rocket stocks in the U.S. market have basically completed their rebounds. SPCX’s market maker has started distributing; look to establish a swing short around 145. For MU, watch for a second test near 990; short if it can’t break above.
Golden rules: Protect your principal, set stop-losses, and reduce your exposure.
Intraday trading Support Resistance
BTC 78500~ 79178 83000~84800
ETH 2263~ 2389 2455~2500
SOL 96~98 106~109
HYPE 70~73 80~83