BTC has broken through, broken through, broken through.
Boys and girls, Bitcoin had a false breakthrough at 105000 yesterday, peaking at 107000 before starting to retreat to a low of 102000 and stabilizing. It slowly pulled back in the evening, and now the 4-hour trend looks quite healthy, which can be considered an effective breakthrough pattern.
The daily closing price just now was at 105530, which has chosen to break out after 12 days of fluctuation since the 8th, especially after yesterday's sharp drop and pullback, clearly indicating that there is significant capital protecting the bulls below, not wanting the price to go below 100,000, completely not giving others a chance to get in!
So we should go with the trend and not operate against it.
Today's Bitcoin rebound target is 108000, it should break yesterday's high, and other coins will rise as well. Many coins have already completed their pullbacks, and it's a good time to gradually enter the market. Let me recommend a few coins with relatively strong support levels!
XRP can be watched as there are favorable patterns recently, and with a relatively large market cap, it is naturally easier to enter.
BNB has been reminding everyone to position themselves, being the most stable and valuable coin.
ETH hitting 2300 should be considered stabilized; if it doesn't break below 2400 after continuous decline, there are signs of stabilization and recovery to watch for.
The DeFi sector series also needs attention, LINK, ENA, LDO, NEAR, UNI, SNX, ARB, etc., you can choose 1-2 for spot trading, but entering the market has risks and investments must be cautious!
GASS cat continues to break new highs, and Ethereum memecoin is about to stage a cat-and-mouse game.
The recent surge of GASS is largely due to it being the first token from 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 growth in just two days.
Although the name RATO is controversial, GasspasCat's position is solid, becoming the leader. If GASS cat can break the 5 million market cap and establish a bottom, it is expected to enter the tens of millions level, alongside RATO. As Bitcoin and Ethereum continue to rise, the on-chain meme popularity remains strong, and the two major IP protagonists are about to stage an exciting cat-and-mouse game.
PROMPT operational review
PROMPT lucked out, captured a short-term rebound, opening at the lowest point before the surge; I didn't check at the highest point and missed out on making money, winning half as much. If you play altcoins and are lucky, it really is much more rewarding than Bitcoin. I opened half of my position with a stop loss at 0.244, then felt my position was small, doubled down on the second order with a stop loss set at 0.255, so even if the second order gets knocked out, the loss won't be too painful.
Due to my position being raised, I saw a big spike in the market, so I got out first. Earning anything is better than nothing. The correct approach would have been to take half off and let the rest ride, but since I am overall bearish, going long is just speculation. I'll look for opportunities to see if I can get back in.
Let’s talk about the coin People:
People was launched in November 2021, just when Bitcoin broke its historical high, and the bull market was about to end. So when it was first launched, it didn't explode much, the momentum was small. In this bull market, it has already seen a wave of increase, so is there a possibility for another wave? I think there is.
The total amount of People is 5.06 billion, with a current market cap of 128 million and a circulation rate of 100%.
As a relatively popular coin in the meme sector, People has always garnered quite a bit of attention. The overall heat in the meme track is still there, and People has actually doubled in this recent wave. In a bull market, there is still room above.
From the price perspective, looking at the monthly chart, it is currently stuck at the last wave pullback high point before the previous bull market ended, having tested this position 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 the possibility of a second explosion is quite high, but don't expect it to increase like last time by ten or twenty times. Overall, a space of 3-5 times seems reasonable.
AAVE surged 20% in a single day, topping the gainers list, it looks like the bull market has really arrived.
I have mentioned before that the most necessary sectors in a bull market are lending, staking, and cross-chain.
Why? Because everyone is reluctant to sell their coins, they will choose to stake and borrow stablecoins to invest in other things.
Staking itself will bring a lot of profit to the public chain, the stronger the bull market, the more staking there will be.
Once major public chains heat up, cross-chain demand becomes a necessity.
So, I mentioned earlier that it was possible to bottom fish AAVE, the logic actually makes sense. The demand for lending in a bull market is rigid, and AAVE is basically monopolizing the market, with the backers having the strength to control it.
The AAVE in the lending sector has already started, if you missed it, you can take a look at $MKR.