Bitcoin's daily and weekly lines are almost certain to have deviated from the channel. There is a high probability that it will reach the 31,000 area within a week or two. The hourly line should be careful to fall back to around 29,400 for rest. If it falls back, it will be a good opportunity to get on board.

If it reaches 31,000, it needs to be observed. If it can stand firm, it may directly attack 43,000; but it is not ruled out that it will fall back from 31,000 to 29,000---28,000 to rest and then attack.

Now it is obviously an upward trend, with a solid chassis and rising step by step. You can only follow the general trend and go long on dips, and try to avoid being caught in the cracks and go short on highs.

The channel has been broken, and the risk to 26,000 in the short term has increased.
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The bottom area of ​​​​Bitcoin's daily line will rise a little bit at each stage, gradually rising, and the pace is very steady. This week, there is a greater probability that it will rise above 29,000. The reasonable approach is to follow the trend and go long at low levels, rather than trying to survive by going short at high levels.

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The upward trend has not been broken, whether it is 1 hour, 4 hours, daily or weekly, it is in the channel. At this moment, the local cross star on the daily line is obvious, and the possibility of upward movement is high.

Short-term contract investment can grasp the space between the middle track and the upper track of the channel.

At present, the daily line of Bitcoin is more like walking in a channel. In the upward trend, it rises by three and falls by two, slowly advancing. This method is healthier and more durable than pulling it up in one step.

The author believes that it is more likely that the middle line of the channel in the chart will not be broken below. Taking 27500 as the base point, it may hit 28800 in the past two days.

If it reaches 28,800 and stands firm in the near future, it will sweep away the concussive bottoming structure in the past two months, which will be a subversive and strategic step.

The contract must have a good profit-loss ratio, a stop loss, and low leverage. I've been jumping up and down a lot lately and it's easy to wash off. Contract investors must have extremely keen market sense and certain technical support, as well as strict trading discipline. Stay as still as possible, learn to make money in the trend, and avoid trying to survive in the cracks.

Spot investors are taking advantage of dips and remain patient.

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ETF catalyzes Bitcoin bull market, will it reach 31,000 in October?

The U.S. Securities and Exchange Commission (SEC) officially recognized the Bitcoin spot ETF application of Franklin Temleton, an American asset management company with $1.5 trillion in assets under management, causing Bitcoin to surge by more than 3% this morning.

Franklin Temleton only submitted the application, and the SEC only received the application. It is unknown whether it will be approved and when it will be approved.

On August 29 this year, there was an ETF application incident that caused the price of Bitcoin to rise by more than 6% in one day. Later, due to the SEC's "negative response", the price of Bitcoin quickly fell back to its original shape.

Compared with the ETF incident on August 29, this morning’s increase is considered very shy or cautious, only more than three points. If the ETF is passed, it will be an extremely important event in the cryptocurrency market, because it marks the recognition of Bitcoin by the global capital market, and a massive amount of funds that are not at the same level as now will enter the Bitcoin market in various ways. and the entire cryptocurrency market.

Today, the price of Bitcoin does not rule out falling back to 27800 or even 27500 for a rest, and then it will mainly depend on the stimulation of the news.

Tonight, Monday, if the SEC does not respond negatively or does not respond at all before the evening, Bitcoin will probably rise again after the European and American markets open. The pressure level ahead is already at 28800.

However, if the SEC makes negative or negative statements about this ETF during the day, Bitcoin will most likely fall back to the 27,000 area.

In the long run, the adoption of ETF is almost a certainty, because the U.S. financial system is very complete, and it is logical for the U.S. government to extend its regulatory hands into all aspects of the financial market, including the cryptocurrency market.

Contract investors must set stop losses and pay attention to market news to prevent negative emotions from causing a rapid decline. While I think this is less likely, short-term contracts have become extremely risky as the price of Bitcoin has been bouncing up and down lately.

Spot holders do not need to pay too much attention to the jumps in the middle, and wait patiently for the ETF to pass and the halving to be completed next year.

Technically, Bitcoin's daily line has gone out of the original shock structure, and multiple dojis on the weekly BOLL and lower tracks have established a solid base. I am optimistic about 31,000 in the medium term and 43,000 in the long term.

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$BTC monthly target: 43,000

It is an indisputable fact that Bitcoin has been oscillating for a month and a half. So whether it is oscillating at the bottom or at a high level, the answer is obvious. This long-term shock at the bottom not only digests the negative market sentiment, but also consolidates the bottom of the bulls. The upward shock is the future trend. Judging from the daily and weekly lines, it is highly likely that it will reach 29,000, and it may be reached in 3-7 days. Judging from the monthly line, it is possible to reach 43,000, which may take 4-8 months. If it is influenced by the news of ETF and halving, the market performance may be more positive.

Nowadays, the ups and downs are very frequent, and contracts can easily be washed out. Hold on to the spot and don't be too greedy. A 40% profit in the medium term is feasible.