Today's market (1) Let's take a look at the beginning of this week and the overall situation that follows. The current medium to long term bullish structure remains healthy. The position of 81-82k, which was mentioned last week, is a highly competitive position for bulls (Figure 1). Inserting 80k was a bit deeper than I expected, but in the end, I managed to hold onto 80k. The rebound is crucial, indicating that there is real buying activity below. It can also be seen from the Binance CVD in Figure 2 The funds on Binance have been selling since reaching 87k in this round Start turning after 80k The sustained buying has also supported this rebound. -------------- The short-term traders' meat cutting mentioned last week has basically stopped (Figure 3) The transfer of old coins from the chain to the exchange (due to selling pressure from long-term customers) has also basically stopped. On October 8th, 2900 items were moved to the exchange. There are only a few dozen on Sunday. So the wave on October 8th was the low point cut by the meat cutting As the saying goes, in a bullish environment, the place where short-term investors panic and cut meat is to buy some. ---------------- So overall, the market is starting to shift from buying at high prices to buying at low prices .. This is also one of the characteristics of bull bear conversion. Many people currently do not have good long positions, so every pullback after August and September will attract this batch of funds to enter. (Even if there are macro negative factors such as interest rate hikes) -------------- Looking back at this week from the big cycle, although there is buying interest below, it is still uncertain whether we can directly return to the upper edge of the range in the past two days .（86k+) Coinbase's premium remains very negative. Last Friday, the ETF saw a small inflow of over 20 million yuan, which can only be considered as a temporary suspension of selling pressure, but the inflow has not yet resumed. So there is not yet any more funding to push up prices . The POC 84k that was pushed to this round of boxes is the place with the most frequent turnover, but it hasn't been pushed up a few times today. So currently, the area around 84k is still the boundary between the long and short sides of the current box .. It may still take CPI to give a clear direction. So from a band perspective, 84k is suitable for long positions in the band to take profit and for intraday scalping For example, the meeting of the two entrance models in Figure 4 --------------- (To be continued)