Interpretation of cryptocurrency market on OCT 28 2022

The market adjusted slightly yesterday, BTC fell back to the volatile range again, and ETH fluctuated at a high level. For low-leverage trading strategies, BTC is not a good short-term subject matter. In contrast, currencies with better growth and proper risk control will have more profit opportunities. Although their volatility and risk will be greater than BTC, the short term is all about volatility.

In addition, BTC's trend reflects the overall market's direction; The big bull and bear cycles are more evident in Bitcoin; ETH represents the kind with strong growth. For investors who trade currencies with small market caps and altcoins, the trend of ETH has more reference value than BTC. In analogy to the stock market, BTC is similar to the Dow Jones or the Shanghai Stock Exchange, While ETH is similar to the Nasdaq or ChiNext Index. BTC allows us to grasp the profits of the bull market and guarantees the lower limit of profits; The upper limit of profit depends on ETH and other value applications that focus on the web3.0 era.

As for the current operation strategy, it remains the same: bearish. At present, after BTC returns to the volatile range, it continues to wait for the next right-side breakthrough signal. If ETH triggers the stop-loss setting, the price above the previous volatile range of around $1,400 will be an excellent opportunity to re-buy.