Market Review

Yesterday, we mentioned that the market should continue to maintain a strategy of buying on dips, and the market cooperated well, showing a pullback early this morning, providing us with entry points. From the charts, we can see that Bitcoin pulled back below 122,500, giving us an opportunity to enter, and Ethereum also pulled back below 4,500, providing us with an entry point. During the day, Bitcoin had a space of over 2,000 points, and Ethereum also reached a hundred points. Congratulations to our friends who followed Xiao Ming to go long. As always, if you feel you can't grasp the entry points well, you can contact me, and we can profit together.

Market Analysis:

For Bitcoin, the trend remains consistent with our previous views. As long as it can hold above the 120,000 level, this round of upward movement is not over. Therefore, those holding long positions should not panic. Bitcoin has the opportunity to challenge 160,000 in October, so a bit more patience is required.

As for the short term, if you currently have no positions and want to seize an opportunity, a relatively good position is around 124,000. If you choose to try at this position, make sure to set a stop loss.

Regarding Ethereum, although we have made over a hundred points in profit today, the trend has not changed. We are optimistic about Ethereum breaking 5,000 in October to challenge higher levels. Therefore, those holding long positions or those who have followed our advice to hold long positions below 4,450 can continue to hold and wait for profits to expand. In terms of short-term trading, if you must trade at the 4,650 level, you can only consider going short, but this goes against the larger trend. Therefore, I personally suggest staying on the sidelines here. The more reasonable entry point I recommend is still around 4,500. So if you are an aggressive trader, you can try to go short here; if you are a conservative trader, then wait for a pullback opportunity.

Trading Suggestions:

Bitcoin: Continue to buy on dips for the long term, with a key level at 120,000. For the short term, consider participating in long positions around 124,000.

Ethereum: Continue to buy on dips for the long term, with a key level at 4,250. For the short term, consider participating in long positions near 4,500.

Do not argue with the market, and do not have the obsession that "it should go up." When the market trend contradicts your judgment, the first thing to do is to admit your mistake and manage risk, rather than looking for evidence to prove you are right.

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