Master Discusses Hot Topics:

This week's market is just waiting for Friday's non-farm payroll and unemployment rate, so let's not talk about anything else. These two data points will directly determine whether the Federal Reserve will continue to lower interest rates in October. What the market most wants to see is a situation that is bad but not collapsing.

Even if the new non-farm payroll rebounds, it is still at a historically low level, and the unemployment rate remains steady at 4.3%. Once this data is released, the Federal Reserve can pretend that it is necessary to lower interest rates while not scaring everyone with a recession. In simple terms, as long as it doesn't exceed expectations negatively, the market will stabilize.

Back to the market, don't be fooled by the long lower shadow of the Bitcoin weekly chart. 113.5K is the line of life and death; if it can't hold, it will be completely done for. The target is directly 97,000, no need for more words.

If you still expect it to recover above 113.5K and create a high-level consolidation, that can only be described as wishful thinking. The trend has already turned bad; even if there is an occasional rebound, it is just playing with you.

To put it bluntly, all current fluctuations are just a pause in the downward trend, not a new round of upward movement. If you want to play, you can only be a short-term player, getting in and out quickly; dragging it out will easily get you trapped.

The naked K has already given a clear signal; the evening star is a bearish structure indicating a top. The major resistance at 117K is the ceiling, and it won't break through in the short term.

After the first round of rebound ended at 124.5K, it directly dropped 8,000 dollars. Now, this second round of rebound can at most hold at 117.7K; anything higher is just a dream. A reasonable height is around 113.8K.

This wave of the market is guiding the bulls to take over, only to bury them in the end. The trend is dominated by bears, and the structure is firmly downward; the real movement is a combination of gradual decline and fluctuations downward.

The upcoming holiday effect is even more of a trap; essentially, position determines fate. If prices are high before the holiday, they will drop. It has already fallen from the 16th to today; the so-called horizontal decline is just another way to continue cutting. So don't be complacent, thinking it won't drop again.

As long as a few bullish candles appear next, pulling Bitcoin up by 5%, the probability of a drop during the holiday is over 70%. If it really consolidates sideways, don't expect to see any new highs; at most, it will test the bottom once more.

On the Ethereum side, it has also directly dropped 24% recently, and the bulls have long been beaten down. The 1-hour chart broke the box to around 4140, but it is being pressed down hard. The support below is at 4050; if it can't hold, it will drop directly.

Don't fool yourself into thinking there is any range-bound fluctuation; that is all nonsense. The current logic is very clear: a rebound is an opportunity to short, and the direction is to continue downward.

Master Looks at Trends:

Resistance Level Reference:

Second Resistance Level: 113400

First Resistance Level: 112400

Support Level Reference:

First Support Level: 111600

Second Support Level: 110700

This rebound must hold the support around 111.6K; the maximum drop can only be to 111.2K. If it can't hold? Then the previous bullish candle is a false breakout. The second support at 110.7K is the last line. At this position, you can only buy in batches; otherwise, just wait to see a big bearish candle.

Although it seems like a rebound now, there is a lot of pressure above, and if you're not careful, you could get hit hard. Don't chase highs blindly; if you want to enter, wait for a pullback and wait for the RSI to stop falling and rebound before making a move.

9.29 Master’s Wave Strategy:

Long Entry Reference: Not currently applicable

Short Entry Reference: Short in batches in the 113400-113800 range, Target: 112400-111600

If you truly want to learn something from a blogger, you need to keep following them, not just make rash conclusions after a few market observations. This market is filled with performers; today they screenshot long positions, and tomorrow they summarize short positions, making it seem like they "catch every top and bottom," but in reality, it's all hindsight. A truly worthy blogger will have a trading logic that is consistent, coherent, and withstands scrutiny, rather than jumping in only when the market moves. Don't be blinded by exaggerated data and out-of-context screenshots; long-term observation and deep understanding are necessary to discern who is a thinker and who is a dreamer!

This content is exclusively planned and published by Master Chen (WeChat: Coin Master Chen). If you want to learn more about real-time investment strategies, solutions, spot trading, short, medium, and long-term contract trading techniques, 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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