BTC has broken through, broken through, broken through.
Everyone, Bitcoin had a false breakout yesterday, peaking at 107000 before pulling back to a low of 102000 for stabilization. It slowly recovered last night, and now the 4-hour trend is relatively healthy, which can be considered an effective breakout pattern.
Just now, the daily closing price was 105530, which is a breakout after 12 days of fluctuations since the 8th, especially after yesterday's drop and subsequent recovery. It is clear that there is substantial capital supporting the bulls below, and they absolutely do not want the price to drop below 100,000, leaving no opportunity for others to get in!
Then let's go with the trend and not go against it.
Today Bitcoin rebounds with an upper target of 108000, which should break yesterday's high. Other coins will also rise with the tide. Many coins have already reached their retracement levels, and it's a good time to gradually position in the spot market. Let me recommend a few coins with strong support levels!
XRP can be considered as it recently has a favorable formation, and with a relatively large market cap, it is naturally easier to enter.
BNB has always reminded everyone to position themselves; it is the most stable coin for preserving and increasing value.
ETH has pierced 2300 and should be considered stabilized; below 2400 if it continues to decline without breaking, there are signs of stabilization and recovery to watch for.
The DeFi sector series also needs attention, LINK, ENA, LDO, NEAR, UNI, SNX, ARB, and other spots can choose 1-2 for positioning, but entering the market carries risks, so investment must be cautious!
GASS cat continues to reach new highs, and Ethereum memecoins are about to stage a cat-and-mouse game.
GASS's recent surge is largely due to being the first token of Matt Furie's new comic IP launched on GATE. The low market cap range was thoroughly washed out, with its market cap soaring from 400,000 to 5 million, achieving a tenfold increase in just two days.
Despite the controversy around the name RATO, GasspasCat's position is solid, becoming a leader. If GASS cat can break through the 5 million market cap and establish a bottom, it is expected to enter the 10 million level, alongside RATO. With Bitcoin and Ethereum continuously rising, the on-chain meme heat remains strong, and the two main IP protagonists are about to stage an exciting cat-and-mouse game.
PROMPT operation review
PROMPT got lucky and caught a short-term rebound, opening at the lowest point before the surge; didn't check at the highest point and missed some profits, winning half less. Playing altcoins can be much more rewarding than Bitcoin if luck is on your side. In the first trade, I used half my position and set a stop loss at 0.244. Then feeling a bit light on my position, I doubled down on the second trade, with a stop loss set at 0.255. Even if the second trade gets stopped out, the loss won't be too painful.
Since my position has been established, I saw a big spike on the chart and decided to exit first. Earning something is better than nothing. The correct approach is to take profit on half and hold the rest, but since I'm overall bearish, going long is just speculation; I will wait for another opportunity to see if I can get back in.
Let's talk about the coin People:
People was launched in November 2021, which was just when Bitcoin broke through its historical high and the bull market was about to end. Therefore, it didn't explode much when it was first launched. This round of the bull market, it has already risen once, so is there a chance for another wave? I think there is.
The total supply of People is 5.06 billion, the current market cap is 128 million, and the circulation rate is 100%.
As a relatively popular coin in the meme sector, People has always attracted a lot of attention. The overall enthusiasm in the meme track is still present, and People has actually almost doubled recently. In a bull market, there is still room above.
From the perspective of coin price, looking at the monthly chart, it is currently stuck at the last wave's high before the previous bull market ended, having tested this level twice without breaking through. However, once it breaks 0.03 and stabilizes, there won't be much selling pressure above in the short term.
I think it has a good chance of a second explosion, but don't expect it to rise ten or twenty times like last time. Overall, looking at a 3-5 times space is more reasonable.
AAVE surged 20% in a single day, topping the increase charts. It seems the bull market is really here.
I have mentioned before that the most essential sectors in a bull market are lending, staking, and cross-chain.
Why? Because everyone is reluctant to sell their coins and will choose to stake and borrow stablecoins to invest elsewhere.
Staking itself will bring a lot of profits to public chains; the stronger the bull market, the more staking will occur.
Once major public chains heat up, the demand for cross-chain becomes a necessity.
So when I said it was a good time to bottom-fish AAVE, the logic was sound. The demand for lending in a bull market is rigid, and AAVE basically monopolizes the market, with the whales having the strength to control it.
The lending sector AAVE has already started; if you missed it, you can look into $MKR.
Lastly, a little reminder from Xiaomei.
Never use AI for trading coins! I have tried many AI models, and the answers vary. Even with the same brand AI and model, if you say something different beforehand, the responses will differ. Even the strongest reasoning model GPTo3 gives completely opposite answers to the same question, so absolutely do not use AI for trading coins!
