Binance's CEO, CZ, made a jinx, causing a brief surge, but it was quickly hammered down. The rise was merely a prelude to a better fall.

Enter long positions in batches within the current price range of 0.023-0.022 for Bluai. A bottoming signal has appeared on a smaller timeframe, and a rebound has begun, indicating a potential for a further upward move. Therefore, you can directly enter long positions and consider adding to your position on pullbacks.

Today's 4-hour candlestick chart shows resistance at $113,731; it has been the level for the past three consecutive candlesticks. If the closing price fails to break through this level, the short-term outlook remains bearish. Only a sustained break above this level would signal a bullish reversal.

October 29th, Testing Support Zone 1. After breaking through the minor high of 116,000, BTC retraced to the 112,000 support zone. This is a key level, a dividing line between a bearish and bullish trend after a sharp drop. 2. The overnight interest rate cut, a drop before the release of positive news, may not necessarily be a bad thing.

Is it appropriate to short BTC at the current price? 1) The price has rebounded to the strong gravity level of 0.618, around 116,800. After the October 11th crash, it peaked at 116,000 for the second time. Meanwhile, long volume has been decreasing in recent days, and short volume is also weak. 2) Spot sell orders are piling up on the order book, but the amount is only a quarter of the previous high, and short positions in futures contracts are also accumulating. The rebound price has arrived, but the timing is not yet right, and the interest rate cut has not yet been implemented.

Bitcoin $BTC has hit its previous high but hasn't broken above it yet. If it doesn't break above it in the next four hours, a pullback is expected. Similarly, Ethereum $ETH has reached 61.8 but hasn't broken above it yet, having reached resistance. With such a surge on a Monday morning over the weekend, there's no reason to chase the trend, both based on experience and market conditions. Mid-term short positions require observation and time. At the current intraday level, shorting offers a better profit-loss ratio than long positions.

The real test of market sense is when the trend shifts! $BTC The first strong resistance is the upper supply and demand range: 117,000-119,800. (You can short with a small position.) Please note that there may be a large-volume surge 📈, directly breaking through this demand range. This is the worst-case scenario I can imagine, as the profit-loss ratio for long positions will be very poor if it breaks through further, making market manipulation very difficult.

Don't be too aggressive in shorting Ethereum. Ethereum's exchange rate has already reversed significantly, ending its two-month period of weakness. Ethereum should be leading the market going forward. Remember Ethereum's independent performance two months ago? Back then, Bitcoin was fluctuating sideways, while Ethereum was unilaterally rising like a mad dog. Hold on to your spot positions.

Everyone is benchmarking against neiro. The market never goes according to everyone's expectations. It always goes to the level of least resistance. When meme starts to launch alpha, it means continuous alpha. When it starts to launch contracts, it means arranging contracts one after another. Now everyone is afraid of spot diversion. A single flower does not make spring, a hundred flowers in full bloom make the garden full of spring. If I want to see 4 and Binance Life continue to arrange to launch all spot products, there is only about 100 million memes. There is no need to underestimate Binance's strength.

The main uptrend is on its way, it's too early to call a bull market! I've been staring at the candlestick chart all night, and the more I look, the more I feel this bull market isn't over yet; the true main uptrend hasn't arrived yet! If I had to talk about the market, there was only one wave in the first half of the year, from April to July, and then there was wide fluctuations in the second half of the year, with at most some local rebounds or artificial MEMEs. The critical months of the year end are November, December, and January, and they haven't arrived yet. It's really too early to call a bull market! No matter what, stay steadfast in your faith, manage your positions well, and let the results speak for themselves!