Master Discusses Hot Topics:

I've had a toothache for two days, and I stopped updating for three days while visiting the dentist. In unbearable pain, I chose to temporarily avoid the market because I couldn't stand it at all.

Today, I took a brief look at the market over the past few days, and it really feels like a trip back to last September to the end of October. The storyline back then was also about repeated inflation and the shattered fantasy of an end to interest rate hikes.

U.S. Treasuries are in turmoil, with the ten-year yield rising to 5%; the dollar index surged to 106.8; the Nasdaq dropped to the point of questioning life (a 15% decline); meanwhile, Bitcoin transformed into the king of rebounds, skyrocketing from 24,000 to 33,000.

As of now, although the plot has changed a bit, the core remains the same: inflation is slightly recurring, and the "rate cut dream" has been postponed; U.S. Treasuries continue to fluctuate, and the market watches on with a helpless expression.

Speaking of Bitcoin and U.S. stocks, their relationship is like two good brothers at a drinking table. They usually drink equally hard, but at critical moments, they sway in their own directions. Especially after a long period of adjustment, this "different frequency" is more pronounced.

From last April to September, Bitcoin went through a full five months of stagnation before it took off against the market trend. This year, Bitcoin's adjustment period has been even longer, over six months of training, as if saying: "Hold on, I'm brewing a big move."

So the question arises, will history repeat itself? Just like the kebab stall owner occasionally asks you: "Bro, want another serving?" Currently, Bitcoin does seem to have a taste of last year: U.S. stocks are in a continuous decline, and market sentiment is oscillating between "Why hasn't there been a rate cut yet?" and "Wow, inflation is back again."

Bitcoin has instead found a wave of counter-trend momentum, but like last year, this also depends on whether liquidity and market sentiment are strong enough. If it truly replicates last year's performance, then sit back and watch Bitcoin put on a great show of one-on-one competition; if it doesn't replicate, at least we can say we watched a suspense film, and retail investors won't lose!

Speaking of Bitcoin now, 100,000 is the psychological Mount Everest for Bitcoin, a chance to flip it only once in a lifetime, how can it be taken lightly? After all, at such an important juncture, the main players and market manipulators need to create enough momentum.

When both internal and external factors are set to shock mode, and macro and micro forces resonate together, the moment of reaching the peak won't seem hasty. The longer the market consolidates, the more stable it becomes, just like simmering chicken soup; if the heat isn't right, the taste will be poor, and if it rushes up too quickly, it will exhaust its potential.

If we reach 100,000 now, how will the show continue? Several technical indicators are already showing slight divergence; pushing hard now will only squeeze out future potential. Plus, today is Sunday, and market sentiment is still in weekend mode; the specific trend will depend on next week's performance.

Bullish sentiment isn't like a power bank; it can't last for two weeks. A pullback would actually be more beneficial for the market; stabilizing the position is necessary to build strength. Another possible scenario is a slow, steady rise: small steps upward, moving steadily and looking further ahead.

Although there is a significant amount of new capital in the market, let's not forget that last October, Bitcoin took a whole month to rise from 32,000 to 38,000. If it weren't for the ETF delay, it would have exploded much earlier.

Even if it rises in small steps this time, it should give altcoins a chance; otherwise, those little buddies will cry out: "Bitcoin, you're too unfair!" In summary, the drama of reaching 100,000 isn't something to rush. We should consolidate where we need to, and wait for the market to align internally and externally before the main players and market manipulators can put on the best historical performance.

Master Looks at Trends:

After Bitcoin reached a high of 93,000, its upward momentum slowed due to the Federal Reserve ruling out the possibility of interest rate cuts. Currently, a downward trend is forming, and the likelihood of adjustment has increased compared to before. It is recommended to pay attention to price fluctuations within the box range and refer to historical highs and lows as support and resistance.

Simply based on the 60-day and 120-day moving averages, adjust positions flexibly through real-time chart analysis.

Resistance Levels Reference:

First Resistance Level: 90,300

Second Resistance Level: 91,500

Support Levels Reference:

First Support Level: 89,500

Second Support Level: 88,400

Today's Suggestions:

Even if we break through 90.3K today, due to the presence of a downward trend line, it is crucial to focus on whether trading volume increases simultaneously, and to observe if we break through the trend line and complete a trend reversal retest.

If we fall below the first support again, we will enter a region where the downward trend intensifies. At this point, the 120-day moving average and the first support level can be viewed as the current important support area.

After a lower shadow forms on the 120-day moving average, a slight rebound occurs; currently, we need to stabilize above the 60-day moving average to have a chance to break through 90K again. However, if we fall below the 120-day moving average, we need to pay attention to the space below the 88K range.

For the day, we can temporarily maintain a rebound viewpoint, but within a certain rebound range, we can also consider trying short positions and flexibly adjust trading strategies. Be cautious of the risk of profit-taking sell-offs, and beware of potential adjustments in an overheated market; do not be overly bullish. Objectively assess the market and trade rationally.

11.17 Master’s Band Strategy:

Long Entry Reference: 87,000 light long; if it falls back to around 86,300, continue long; target: 88,400-89,500

Short Entry Reference: Short in the range of 93,300-93,500; target: 91,500-90,300

This article is exclusively planned and published by Master Chen (public account: Coin God Master Chen). Master Chen is the same name across the internet. For more real-time investment strategies, solutions, spot trading, short, medium, and long-term contract trading techniques, operational skills, and knowledge about candlesticks, you can join Master Chen for learning and communication. A free experience group for fans has been opened, along with community live broadcasts and other quality experience projects!

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