Master Discusses Hot Topics:

Today, let's talk about the current market, which can be understood as a big gambling arena where everyone is betting on whether the American economy will completely collapse and whether interest rate cuts will come to the rescue. If the American economy really falters, interest rate cuts will definitely follow.

This is also why many people currently believe the market is going to crash; the trend appears to favor the bears. However, it's not easy to go short for the medium to long term.

In the current market, it’s possible that before a real crash occurs, there might be a significant rally, pushing prices up to previous highs, causing shorts to get liquidated before the market moves down.

Looking back to last Friday, Bitcoin rose from 97.5k to 97.8k. That’s a 300-point move, but not many dared to short. Why? Because of the bulldozer-like rise before, where it slowly pushed up 1000-2000 points, shattering many people's fantasies that 95k was the top.

Trading plans were thrown into disarray, and anxiety ran high; who would dare to act recklessly? Most people are fully leveraged, unable to withstand levels like 98k or 99k. They either have to guess the top in a narrow range around 100U or cut losses and exit, which is no different from gambling.

In yesterday's analysis, it was mentioned that around 92.8k is a good cross-support level, with a decent chance of winning by closing shorts and opening longs. But when it actually gets there, bulls might think: let’s see if it drops to 88k first, while bears might say: let’s see if it rebounds to 95k first.

As a result, in this back-and-forth process, opportunities are lost. So if everyone wants to be stable, they can only honestly engage in certain trades within a large range and stop messing around. Enduring loneliness is necessary to reap rewards; otherwise, it’s just self-inflicted frustration.

Returning to Bitcoin, it is currently oscillating in the lower middle band of the 12-hour chart, and the decline over the past 4 to 8 hours has halted. The smaller cycles under 1 hour this morning still held firm, but when it rose to around 95.1k, it was pushed down.

The daily chart shows a death cross, but the short-term 12-hour level adjustment is not over yet. The support at 93.3k is still quite strong, and the bulls have not completely flipped.

And tomorrow night, the Federal Reserve's interest rate meeting will definitely create some noise, so during the short-term trading in the next couple of days, positions and leverage should be reduced; don’t take unnecessary risks.

Master Looks at Trends:

Resistance Levels Reference:

First Resistance Level: 95400

Second Resistance Level: 94700

Support Levels Reference:

First Support Level: 93500-93800

Second Support Level: 92800

Today's Suggestions:

Currently, Bitcoin is still in a downtrend and will fluctuate along the trend line in the short term. If a rebound occurs and breaks the downtrend line, pay attention to whether the price stabilizes in the range of 94.5k to 94.7k.

The first support level given in yesterday's analysis, 93.5k to 93.8k, is a key support area in the short term, as this range was a previous low. If it breaks below this level, the downtrend will intensify.

Currently, the price has temporarily held the range of 935k to 93.8k, which can be seen as a good risk-reward area. Although there is a chance for a rebound, the lack of buying power means the rebound may be short-lived.

5.6 Master’s Swing Trading Setup:

Long Entry Reference: Buy in batches in the range of 92000-92800, Target: 93800-94700

Short Entry Reference: Sell in batches in the range of 95400-96000, Target: 93800-92800

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). For more real-time investment strategies, liquidation 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 and community live broadcasts are now available!

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