Master Discusses Hot Topics:

Continuing from yesterday's article about the earnings season, as soon as the earnings season kicked off, JPMorgan seemed to have just downed five cups of strong coffee, with Q3 investment banking revenue soaring by 31%, and net interest income also pleasantly surprising with a 3% increase.

With profits and revenue advancing together, the market cheered: "Soft landing, here we come!" Wells Fargo also jumped in to say, "I exceeded expectations too!" For a moment, everyone felt that with strong non-farm payrolls, slow inflation, and a bright start to earnings, everything was going exceptionally well—only missing the stock market starting a square dance to celebrate.

Recently, the market's drama has been more thrilling than a Hollywood blockbuster! Bitcoin ETFs have been "losing weight" for three consecutive days. It even staged a grand show of "BlackRock, Fidelity, and ARKB all running away," causing everyone to feel a tightness in their chests.

As Master mentioned before, the "magic pill" for the Federal Reserve to cut interest rates seems to have expired, and funds are starting to jump ship, waiting for the "reality show" of the election to settle down.

However, a dramatic twist came when BlackRock invested another $17.8 million! Do you think this is related to Vitalik Buterin being nominated for the Nobel Prize in Economic Sciences? Maybe, after all, for traditional funds, good news is like a health supplement for the market—once consumed, it boosts morale!

Yesterday, the ETH/BTC exchange rate was on the verge of breaking 0.04, and Master believes that Ethereum's "explosion" is likely to occur after the market correction bottoms out, feeling like the ultimate twist at the end of a movie, ready to ignite!

Master Looks at Trends:

As soon as the PPI index was released yesterday, the market was directly surprised—lower than expected, easing inflation worries, and wholesale prices obediently "discounted." This wave of good news brought the "heartbeat" of risk assets back, and the market rebounded significantly as if it had been injected with adrenaline.

Now that the rebound is so high, of course, we can remain optimistic! Considering the weekend is coming, the market will likely consolidate sideways, experiencing a small step-like increase. However, weekend trading volumes may not always soar, so it's best to be prepared for a long night with the market. Don't get too excited; it's better to stay steady.

Resistance Levels Reference:

First Resistance Level: 63100

Second Resistance Level: 63700

If the first resistance level can be broken, you can look forward to a larger increase. It feels like waiting a long time for a coveted package to finally arrive at your doorstep; at this moment, you can take a glance at 65K, as the probability of retesting this level suddenly increases, making it as tempting as a limited edition item.

However, hoping for the market to "boom" through the resistance over the weekend is less realistic than watching it rebound a bit and then take a breather at the resistance level. Take the opportunity to partially take profits, accumulating gains gradually, and don't let yourself be too aggressive.

Support Levels Reference:

First Support Level: 62300

Second Support Level: 61800

During adjustments, the first support level is crucial, like a thin lifeline. If it unfortunately breaks, we may see a larger adjustment next.

The first support level is an important threshold in the short term. Considering the risk-reward ratio, ultra-short-term traders can try to find entry opportunities around 62~62.3K.

Today's Trading Suggestions:

In today's trading, the significant rebound has already given the market a "stamp of approval," and the trend is upward! So, during pullbacks, don't rush; find a good entry point and maintain a short-term bullish outlook.

10.12 Master’s Short-term Orders:

Long Entry Reference: Buy in batches in the 61500-61800 range, with a stop loss of 500 points, target 62300-63100.

Short Entry Reference: Sell in batches in the 63100-63400 range, with a stop loss of 500 points, target 62300-61800.

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). For more real-time investment strategies, solutions, trading techniques, and knowledge about K-lines, you can add Master Chen for learning and communication, hoping to help you find what you want in the crypto world. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% following the trend; daily updates on macro analysis articles, mainstream and altcoin technical indicator analysis, and spot medium to long-term price prediction videos.

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