Master Discusses Hot Topics:

Last night, when the September data came out, I really couldn't muster any interest. The data itself lacks substance, yet employment numbers are high and the unemployment rate is also high; this combination is a natural conflict, making it hard not to feel twisted.

The market was also shaken last night, with U.S. stocks starting to turn around close to midnight, and Nvidia followed suit. As for Bitcoin, it continues to only follow the downward trend, always looking lifeless.

A few old Federal Reserve officials jumped out to educate the market, and CME is now giving a less than 40% probability of a rate cut in December. This indicates that the market is still clinging to hope, refusing to accept the reality that there may not be a rate cut in December at all.

Right now, it's a bottomless game, waiting for the moment when it's clear that there will be no rate cut; that will truly kill the sentiment. After that, we can only look to January next year. If they do cut in December, it could indeed boost the market, but this is definitely not the time for a reversal.

Back to the market, the bear market is clearly present, unmistakably so. Yet some still fantasize about Bitcoin returning above 106K; I really don't know where you get your courage from. If you don't wake up soon, the abyss is below, and you can't rely on mere thoughts to hold your positions.

Some analysts are jumping out to mislead people into thinking that if it drops below 90K, they should continue to buy the dip. I advise you to first check if you have enough bullets in your pocket to last through the next 3 to 6 months.

This round of correction is heading towards a deep bear market, not the small technical bear market that lasted two to three months from the end of 2022 to April this year; that was just a stroll. This is a cyclical bear market, following a four-year cycle of bull and bear trends without exception.

My long-term bearish target for Bitcoin is around 78.8K, with short-term buys around 85K, 83K, and 81K. It can now be basically locked in that 78.8K is the second phase bottom.

At this point, you can try to buy some more in the spot market; if it rebounds by 5,000 points, make sure to run. Don't think about 100K or 150K; this is a bear market. If you dare to treat it like a bull market, just wait to be arranged.

As for Ethereum, the rebound strength is also nearing its peak. Today, it's expected to struggle to exceed 2926 to 2960; yesterday during the day, the highest rebound only reached 3060, and then it hit a new low at night. Above 3000 is slowly becoming a top range.

If it can't get past 2960, then 2960 will be the top of the entire 1000-point drop range from 2960 to 2000. As soon as it breaks below 2700, it will slide all the way down to the support range of 2526 to 2480, and by then, rebounds won't exceed 2800.

The range of 2440 to 2372 will be tested, and if 2372 is breached, it will head straight for 2112 to 2050. If there’s a major negative event, like a sudden rate hike, Ethereum will enter a sharp decline mode.

Dropping from 3200 all the way down to 2800, if 2800 can't hold, it will directly crash to 2388 to 2088, then it will come back to 2788, and continue to slowly fall to 2000.

So no matter how Ethereum plays out, all short-term rebound highs are likely to be the highest points in the coming months. If it can't break through 3000 today and over the weekend, then 2926 to 2960 can basically be confirmed as its ceiling.

Master Looks at Trends:

Resistance Level Reference:

Second Resistance Level: 90700

First Resistance Level: 87500

Support Level Reference:

First Support Level: 82200

Second Support Level: 78600

Bitcoin is currently lying around 85.7K, and the entire market is still filled with panic. Everyone wants to run, and no one wants to take over. With such poor sentiment, it would be a disservice to the market if it doesn't drop.

From a daily perspective, Bitcoin is just stepping on the support chip area from the past. The bearish momentum is still strengthening, and the probability of dropping to 82K is increasing.

The RSI has dropped to 23, which indeed indicates a typical oversold area. Technically, there is a possibility of a rebound, but don't think about any reversal. In this kind of market, a rebound is just an opportunity for bears to enter.

The first support is at 82.2K; don't fantasize about the short-term market. First, keep 82K in mind; as long as it doesn't break here, the market is giving you face. If 82K holds, this is a good risk-reward point, and you can consider taking a short-term long position to bet on a rebound.

The second support is at 78.6K, but if 82K can't hold, then don't resist; just wait for 78.6K. When it gets there, that's the real point to take action.

To achieve a short-term rebound, it must regain the first resistance at 87.5K. If it can't get back there, the rebound will still be a false breakout. Wait for it to break through 87.5K and start stabilizing and oscillating before considering if there's a chance to touch the second resistance near 90K.

11.21 Master’s Wave Strategy:

Long Entry Reference: Not currently applicable

Short Entry Reference: Short in the range of 89300-90000, Target: 87500

If you truly want to learn something from a blogger, you need to keep following them, not just make hasty conclusions after a few market observations. This market is filled with performers; today they screenshot their long positions, and tomorrow they summarize their shorts, making it seem like they "always catch the top and bottom," but in reality, it's all hindsight. A truly worthy blogger has trading logic that is consistent, coherent, and withstands scrutiny, not someone who jumps 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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