2024.10.16, Views on Shanzhai Hotspots:
Tomorrow's unemployment data is not a big issue, but attention should be paid to November, as most of the big data is concentrated in November.
LTC has already started to move; the entry point near 67 suggested last night is now up 7 points, continue to hold.
DOGS is in a range-bound consolidation, still optimistic about breaking upwards; for those who haven't entered, the current price of 0.000777 can be a good entry point.
Most cryptocurrencies are in a correction phase, with only a few showing independent trends. UNI has support at 7.66, and the current price of 7.89 can be a good entry point.
PEOPLE has election concept support at 0.0823; it can be bought on dips, and the weekly chart is still expected to close higher.
10.16 Daily Report on BTC:
We see that Bitcoin has indeed closed with a bullish candle again on the daily chart, although the volatility is large and the upper and lower shadows are long, indicating a very strong tug-of-war between bulls and bears. With the surge in trading volume, it shows that the battle is not just verbal but also involves frantic trading. Although there was a false breakout above the dynamic resistance zone yesterday, and it has closed back down, it currently seems that the probability of moving upwards again after the adjustment is high.
The mid-term market remains dangerous. After yesterday's breakthrough high with a shooting star, the probability of a follow-up move forming a shooting star is still considerable, and we need to remain very vigilant.
Short-term, as mentioned in yesterday's video, the current extreme volatility and wide-ranging market structure is not suitable for us; the market has not shown clear and reliable structural characteristics, so we can only continue to wait.
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