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This market action—#BTC got pulled up and it immediately drew a line in place. Yesterday 85000 still couldn’t hold; the low dropped to around 83800, then it rebounded to just under 84700, less than a 1000-point move. Here again, there’s suppression. Yesterday’s high was around 87200, then it fell back to 83800—dropping more than 3000 points. Right now, intraday it probably won’t fall much further. But at the rebound around 85500, it can’t break through—so the trading approach is better to take staggered short positions. Below, keep watching 83000–82000.
The big coin directly pulled down to 86888 via a pin, then retraced to #BTC —meaning the smaller timeframe has already broken through. If you don’t draw a “door” on the chart, then it looks like it’s going up. However, there’s non-farm payroll data released tonight; I don’t know whether the data will be good or bad. Usually, based on the chart, it already moved up ahead of time. The data might end up being slightly in line with expectations, so there likely won’t be a major downside—unless those market makers deliberately pump it up to draw the door and then dump it down.
Putting aside the news: if, during the intraday retracement, Bitcoin can stabilize around 85000, then it’s fine. If it drops further, then it would just be another big sudden pump up.
Happy birthday to our motherland, and also wish everyone a happy National Day.
Big Bing collected the monthly line this morning. #BTC monthly line high was 87385, and the low was 74909. This level is where it was pierced after the U.S. Federal Reserve raised rates last month. The close was around 83500, and overall the monthly line also moved up by more than 10,000 points. The pullback level is also fine. The bullish trend remains. My viewpoint stays unchanged: as long as the pullback does not break 82000, sooner or later it will still move toward the highs. It’s just a question of whether it goes to 87000 or 90000. However, looking at intraday, Big Bing was grinding for the whole morning and only moved 300–400 points—really too small. It couldn’t even break through 84000 on the intraday rebound, so the smaller timeframe is a bit weak. That’s why I exited the main position long and plan to rebuild the position again around 83000–82000.
The big cake went long near 83,000 yesterday. After the rebound from #BTC , it got capped at 83,800 and didn’t go up, then it pulled back. I ended up taking around 800 points. Just now the low was again tested, almost back down to 83,000, and currently it’s making a small rebound.
Right now, the big cake has been ranging in the 85,200–82,500 area for several days without choosing a direction. I feel it should break out once the monthly line closes. The monthly line closes tomorrow morning at 8:00, so it won’t be long—early in the month we should already have a result, which coincides with the National Day holiday. As long as it holds above 82,000, it will move upward. Breaking 85,000 is only a matter of time, provided that 82,000 doesn’t break down below the level.
Big cake hit around 84,300 last night, then pulled back. #BTC ’s lowest pullback reached around 82,700; it didn’t break down and rebounded to 84,300 again. The range fluctuates by about 1,500 points. Currently, overhead resistance is at 84,300 and 85,200. Support is at 82,800–82,500; below that, there’s support at 82,000. Intraday, it seems the rebound in big cake is stronger than before. If the pullback can hold above 83,000, then we basically look bullish. Aim for 85,000.
I was bleeding—#BTC last night; 84866 was empty and it hit a risk-free handled “bamboo/sun” plug to knock it down, then it came back. The short position got stopped again at 85200 with another plug, keeping the head warehouse “risk-free bamboo/sun”—it’s gone. Now it’s down to 83500, and then down another 1000-plus.
For now, the big cake is still retesting; I’m watching 83000 to see if it can hold steady. If it holds, keep looking for a rebound. If it can’t hold, look at 82000; if it goes lower, you may need to watch the 80000 area. On the upside, watch 85000—once it can’t break higher, then look for another pullback.
The big pancake traded away on the weekend for almost 2 days. It moved from the low #BTC to 83100 and now it’s back up to 85000. It’s rebounded by 1800 points. For now, it all comes down to whether 85000 can hold firmly. If it holds, then we’ll keep looking higher—resistance is likely in the 86000–88000 range.
The big pie last night pulled back to the lowest around 83,100, then rebounded. The highest has now come back near 84,200. The low has risen and the rebound is up about 1,100 points. #BTC Currently, the big pie has pulled back once more to around 82,800 and rebounded to 85,200. Now it has dipped again to around 83,100 and rebounded. For this wave, let’s see if it can completely break above 85,000. If it can’t, it will likely continue to pull back and probe lower. For now, it looks like the range is 82,800–85,200, which gives more than 2,000 points for range-bound consolidation.
These two days are also just the weekend, so the fluctuations won’t be very large—it's a ranging market. So operations should mainly focus on buying low and selling high in the range, with swing trades as the main approach.
This morning the big flatbread was hit again around 84,900, then it started to drift lower and test back. #BTC ’s lowest pullback reached around 83,700, but it didn’t break down further; instead it turned and rebounded. During the day there was roughly a 1,200-point range of choppy movement. The range is 85,000 to 83,000—if it can’t break out of this area, the fluctuations won’t be very big. For the upside, once it breaks above 85,000 and holds, we can look for a rise. For the downside, watch the pullback toward 82,000 and see if it can hold. If it holds, then we can continue to look for a large-scale rebound.
Last night’s short: it was at the front around 842, then it ran off. I thought about making a single entry, so I placed a sell order around 85,100, betting on a wick/push into the order—but it didn’t get stabbed. I missed out perfectly on a pullback of more than 1,000 points.
It’s Mid-Autumn Festival today. Wishing all the old friends at the plaza a happy Mid-Autumn Festival—may everything go smoothly, and may the season bring you peace and good health. Thank you for being with us all along.
The big pancake yesterday retraced around the high point near 87200, bounced back after touching 85200 and then moved on to #BTC . The highest bounce reached around 86000, but it didn’t hold, and then it started the second wave of pullback. It dropped and directly broke through 85000 under 85900, first tapping around 83800. It then rebounded by 2000 points, with the highest rebound reaching about 84700 before starting to pull back again. It dropped to around 83500 before stabilizing and halting the decline. At the moment, the peak of the rebound is 84600, but it didn’t hold; it fell again to 83900. For the intraday pullback, first watch 83000. See whether it stabilizes here and has a chance to rebound upward. If it goes lower, it will be 82000. However, as long as the rebound doesn’t break above 85000, it will continue to trade in a range. The range is 84700–83500, spanning over 1000 points,磨盘-like churning.