Master Discusses Hot Topics:

MMP, doesn't it feel like the market's face was directly torn apart since that violent drop last night that left you feeling suffocated? What emotional consensus, what remnants of a bull market, it’s all just an illusion.

Bitcoin is still somewhat considerate, but what’s truly deadly are those counterfeit coins, dropping like they’ve lost their souls, especially those who think they’re holding onto valuable coins, truly believing they’re clutching the future.

The most brutal part of this market is that it won’t notify you in advance when it’s time to harvest. It waits until you feel secure, dare to increase your position, and are ready to go all in, then it kicks you straight into the abyss.

Many people’s current state isn’t just about losing money; it’s about a psychological breakdown. After crawling out from the gates of hell on October 11, being twisted in a month of continuous fluctuations, now getting hit like this again, ordinary retail investors are basically dead; those who can still breathe are considered lucky.

But as long as you’re still alive, don’t be the last fool rushing in. The most important thing to do now isn’t to prove you have courage, but to admit that the market is tougher than you. First, stabilize your mindset, don’t act foolishly.

Once the real bear market signal is confirmed, you need to immediately cut off your bull market illusions. Don’t think that just because it drops to a level you can accept, that it’s the bottom; that’s your perceived bottom, not the market’s bottom.

Especially for second and third-tier counterfeit coins, you might think it’s hit the floor, but it can still break through the floor. Because the project parties are even more scared than you; they will run first, sell first, use you as a cushion, and then switch to USDT and Bitcoin to survive the winter.

Back to the market, that fake breakout at 116K for Bitcoin has already written the intentions of smart money on its face; this is still liquidity hunting. In plain terms, big funds are not bullish at that position; they’re waiting for retail investors to peak, then they short it back.

The massive turnover on the day of the crash on October 11 means both bulls and bears have fought desperately; now only the results need to be verified. 102K is the last line of defense for the bulls at this stage; if this level is broken, then all those who thought they were bottom-fishing, all those who thought they found a golden pit, will turn into corpses.

Panic selling will lead to a chain reaction; it won’t just be a drop, but a collapse. Coinbase already broke down ahead of time on October 17, indicating that it’s not just a problem with a single exchange, but a structural issue with the entire market. If 103.5K can’t hold, just wait and see.

As for Ethereum, I won’t use any highfalutin structural terms. Just one sentence: it’s currently struggling sideways in a downtrend. 3560 to 3680 is the doghouse. Those shorting are holding onto 3680; if it doesn’t break, they’ll hold on, waiting for further drops to 3400.

And for those looking to go long? You at least need to see it stabilize above 3700; otherwise, don’t dream. Last night’s drop has already knocked the bulls’ heads in, including so-called whales and big brothers who have been hit hard.

The current rebound is merely a technical pullback driven by the liquidated bulls closing their positions; it’s not a true trend reversal. If it can’t hold above 3700, continue to short; don’t leave any space for your fantasies in the market. The market isn’t trying to kill you; it’s you who rushed in and gave it the opportunity…

Master Looks at Trends:

Resistance Level Reference:

Second Resistance Level: 108500

First Resistance Level: 107300

Support Level Reference:

First Support Level: 105500

Second Support Level: 104500

The 4-hour RSI shows a clear bullish divergence, meaning the price is falling, but momentum isn’t continuing to drop. 105.5K is the rebound level I was watching yesterday; the price has stepped on it twice now, showing some signs of holding.

If 105.5K is defended, then this can be considered a short-term bottom, and it might even form a double bottom. But if 105.5K is broken, don’t resist; just walk away. If it continues to drop, 104.5K will see a rapid cliff-like decline.

The first support at 105.5K is the low point from the crash on October 17, and the second support at 104.5K is the low point from the crash on October 22. The psychological bottom of market sentiment is actually at 106K, but what truly affects life and death is 105.5K; just remember this lifeline.

The first resistance at 107.3K is the dense area of low positions from August 29 to September 1, and the second resistance at 108.5K is the accumulation area of low positions from September 26 to September 28.

If it breaks through the first resistance level of 107.3K and can stabilize without being knocked back down, then the short-term logic can temporarily switch to a rebound upward, allowing the bulls to catch a breath.

November 4 Master’s Wave Strategy:

Long Entry Reference: Not currently referenced

Short Entry Reference: Light short in the 108000-108500 range, defend at 108900, target: 107300-105500

If you truly want to learn something from a blogger, you need to keep following them, not just look at a few market updates and jump to conclusions. This market is filled with performers; today they screenshot long positions, tomorrow they summarize short positions, making it seem like they “catch the top and bottom every time,” 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 flashy data and out-of-context screenshots; long-term observation and deep understanding are needed to discern who is a thinker and who is a dreamer!

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