In the past few days, BTC has once again become the leader, with a rapid rise, climbing more than 10,000 points from the low to the high! How should we analyze this wave of upward trend? Could the recent Crypto Summit indirectly be a piece of Favourable Information? Additionally, there are expectations for interest rate cuts in the future, with a high possibility of a cut in October. The market sentiment driven by these two pieces of news is what has led to this wave of rise. As for the interest rate cut in September that resulted in a fall instead of a rise, it was because the sentiment was already very high before the cut; after the cut was implemented, the sentiment was exhausted, so profit-taking institutions took this opportunity to sell part of their Holdings to realize profits, and then continued to buy at low levels, waiting for the subsequent interest rate cut to be implemented again to profit in the same way. This is why you see that doing shorting leads to a rise, while doing go long leads to a fall. This morning, a Swedish parliament member officially proposed to establish a national strategic Bitcoin reserve, which is another big Favourable Information for BTC.

Back to the market, Bitcoin reached a peak of around 119,400 this morning, having strongly broken through the previous wave's high point of around 117,800. If it continues to hold steady around 117,800, can we try to go long? If it falls below 117,800 and does not rebound, can we try to short? The stop loss should be set around the previous high of 119,400.
The resistance levels for BTC today to watch are near 119400, 120800, and 122300.
Pay attention to the support around 117600, 116700, and 114700.

The rise of Ethereum is not as strong as BTC, with a rise of nearly 600 points from the low to the high. When Ethereum first attempted to break the 4250 resistance, it failed and after retreating to the 4090 range, it completed a surge. Therefore, the range of 4100 to 4200 has accumulated short positions, with many shorts trapped, making this range a support area for the pullback. Short positions for Ethereum can be laid out near 4500 and around 4760.
Ethereum's upward pressure today is focused around 4400 to 4500, while support below is around 4278 to 4120.

We cannot predict every market trend successfully; the market is ever-changing, and emotions can shift just as quickly. We should not become complacent because we got a few directions right, nor should we doubt ourselves just because we made an incorrect judgment. #加密市场反弹