Cryptocurrency News

October 29 Hot Topics:

1. Visa supports four stablecoins, covering four blockchains and two fiat currencies to expand payment pathways.

2. Ethereum Fusaka upgrade completes final testnet deployment, mainnet expected to launch in early December.

3. Ethereum Fusaka upgrade completes final testnet deployment, mainnet expected to launch in early December.

4. Tether plans to establish a physical presence in the U.S., considering alternatives to Fairshake for political donation channels.

5. Western Union will launch stablecoin USDPT in 2026, joining the competition in cross-border crypto payments.

Trading Insights

Analysis of the 8 Stages of Bottom Fishing in the Cryptocurrency Market: Where Are We Now?

1. First Stage: Confidence Boom - The atmosphere in the group is enthusiastic, everyone is full of confidence, making grand plans, promoting actively, and all believe they are "doing great things."
2. Second Stage: Confidence Weakening - Cryptocurrency prices enter a sideways trend, growth stagnates, confidence in the group declines, but some still push forward, not completely giving up hope.
3. Third Stage: Initial Bottom Fishing - Prices start to drop, most see it as a "buying opportunity," and many increase their positions, actively bottom fishing.
4. Fourth Stage: Weak Bottom Fishing - Prices continue to fall, initial bottom fishing funds are exhausted, people can no longer buy, discussions in the group decrease, and enthusiasm for promotion significantly cools.
5. Fifth Stage: Negative Outburst - Negative emotions spread in the group, voices of blame and insults towards the project emerge, dissatisfaction is released.
6. Sixth Stage: No One Cares - Almost zero discussions in the group, insults disappear—most have cut losses and are no longer concerned about project developments.
7. Seventh Stage: Faith Shattered - Prices continue to oscillate at low levels, eroding the last remaining faith of retail investors, some are forced to cut losses.
8. Eighth Stage: Recovery and Takeoff - The market begins to recover, the market makers test the waters (pulling up sharply) to observe retail reactions; after repeated testing, retail investors dare not chase the rise, and market makers initiate a real upward trend.

Key Question: Which stage are we currently in?

This needs to be assessed based on specific cryptocurrency price trends (whether they are in a low-level sideways trend or continuously falling), community activity (volume of discussions/emotions), and retail investor behavior (whether they are still bottom fishing or have exited).

Comprehensive Judgments:

1. If there are still insults in the community and some are observing, it is likely in the 5th-6th stage;
2. If there is low-level sideways movement and the community is silent, it may be in the 7th stage;
3. If there is a test pull-up and retail investors dare not chase, it may have entered the early 8th stage.

LIFE IS LIKE

A JOURNEY ▲

Below are the actual trades from the Big White Community this week. Congratulations to those who followed along. If your trades are not going well, you can come and test the waters.

Data is real, and each trade has a screenshot from the time it was sent.

**Search for the public account: *Big White Talks Coins*

BTC

Analysis

Bitcoin closed with a bearish candle this week, with the upper shadow touching the upward trend line at 116,000 before retreating; if it cannot recover 113,800, the weekly line may retest the lower boundary (bottom of the funnel); on the daily chart, a "hammer" candle appeared yesterday but with increased volume, forming a "bearish three crows" pattern with three consecutive bearish candles (unless it recovers today); the key support level on the daily chart is 110,500 (lower boundary of the rising channel), and a break below may lead to a possibility of looking towards around 104,000; for short-term analysis, focus on the 4-hour chart, looking for short-term opportunities.

In the short term, on the 4-hour level, it has broken below the upward trend line and the mid-channel, with support near the lower boundary of the channel at around 110,500. If this level is lost, it may trigger further declines on the daily chart.

For rebounds, watch for resistance near the mid-channel at around 114,200; if broken, the next resistance is at the previous consolidation level around 116,200.

Indicators show a bearish trend, with MACD and RSI indicating downward movement.

Trading Strategy: Continue to monitor key support levels for potential rebounds; if it stabilizes, consider long positions, but keep an eye on the market.

Indicators are bearish, and short positions can be taken at resistance levels in batches, with stop-losses on breakouts.

ETH

Analysis

Ethereum's daily chart showed a drop from a high of around 4175 to a low of around 3925, closing near 3980. The support level is near MA14; if broken, it could look towards around 3885. A rebound can be considered near this level. The resistance level is around 4075; if broken, it could look towards MA30. A rebound near this level can be considered for short positions. MACD shows a decrease in bullish momentum.

On the 4-hour chart, the support level is near MA60; if broken, it could look towards 3925. A rebound can be considered near this level. The resistance level is near MA14; if broken, it could look towards 4075. A rebound near this level can be considered for short positions. MACD shows an increase in bearish momentum.

Disclaimer: The above content is personal opinion and for reference only! It does not constitute specific trading advice and does not bear legal responsibility. Market conditions change rapidly, and the article may have some lag; if you have any questions, feel free to consult.

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