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Today's Crypto Assets Market Analysis
Market Overview:
The current Bitcoin price is in a state of triangular convergence, which confirms that the 112000-100300 range does not constitute a standard daily downtrend. The recent fluctuations from 110,000 to 102,000 to 109,000 have actually formed a shock consolidation structure at the 4-hour level.
Macroeconomic Analysis:
1. The interaction between US stocks and interest rates is affecting overall market sentiment.
2. The U.S. stock and crypto markets may peak in October, and the future trend is worth watching
3. The 13-month cyclical pattern is working
4. There is still a lot of uncertainty about the US dollar-related issues
Market Forecast:
The current triangle convergence pattern is likely to go through a full cycle and eventually see a false breakout of the upper edge followed by a pullback (similar to the double V reversal that is common this year). The overall operational strategy is still dominated by the bears.
Short-term trading recommendations:
- BTC is in the 4-hour triangle convergence stage, and is expected to fall to around 104000 first, and can open a long position on the lower edge of the triangle convergence, and then rebound to around 110000, and then turn short on the upper edge of the triangle convergence and hold a medium-term position. If there is an upward breakout of the upper edge of the triangle, it is not advisable to chase longs, because it is very likely that a false breakout will be followed by a pullback, followed by a major downtrend.
- ETH can be long at 2500, take profit at 2730 and turn into a short position.
- SOL can open a long position at 145 and exit the market at 160 with a profit loss and turn to a medium-term short position.
Mid-term Strategy:
With a short position, Bitcoin is expected to hit the daily MA250 near the level, which could move up to around 93,000 over time. Ethereum is expected to dip into the 2150 area, and SOL is expected to hit the 130 level. Pure spot investors can consider a regular small amount buying strategy when BTC is below 94,000.
Long-term layout:
1. Buy spot at the daily MA250 position, while configuring a 100x coin margin long position with 1% of the total position.
2. Configure a 1% position of 100x coin margin long order at the EMA250 position.
3. Further allocate 100x coin-margined long positions at the MA350 position
Long-term bulls do not set take profit for the time being, and will manually stop loss when the weekly candlestick breaks below the weekly MA/EMA60.
Spot asset allocation recommendation: Bitcoin 60%, SOL 20%, other altcoins 20%.
Notable altcoins include: JTO, ONDO, SUI, SEI, STX, MKR, AAVE, TAO, RENDER, XLM, LINK, VIRTUAL, and SWARMS.