Current market sentiment is already very high, especially with ETH, which has risen significantly under FOMO (fear of missing out) sentiment. In the short term, it is very likely to surge above 5000 and then start a significant retracement. With so many institutions buying heavily, it would be unreasonable if it cannot even reach an all-time high. However, old investors in the crypto circle will crazily offload at new highs, and the selling pressure above 5000 may increase significantly.
Bitcoin has been consolidating around 120,000 for a long time, recently approaching an all-time high, theoretically still has upward momentum. After breaking the new high, we need to see if it is a false signal or a continuous rise. I personally think there may be a slight increase for a while, but the magnitude is limited, mainly a slow bull market, combined with tokens like ETH, SOL that are favored by Wall Street, to complete the final wave of accelerated market.
In the past 24 hours, a total of 104,843 people were liquidated across the network, with a total liquidation amount of $423 million. Long positions liquidated amounted to $138 million, and short positions amounted to $285 million.
BTC
Bitcoin's market yesterday was also very interesting, during the day it was consolidating, Ethereum and altcoins were flying around, and after the US stock market opened, it soared in place and then adjusted, bringing down altcoins. Now it has already reached a historical high. Previously judged to be in a fifth-wave large-scale rise, which is now validated to be correct.
Currently, BTC is exhibiting a blood-sucking market, which is a normal performance of a bull market. The rise of BTC brings incremental funds, which will gradually rotate into mainstream coins and then into altcoins. This rotation is very healthy, representing the first phase of the second half of the bull market, which indicates that there is still room for further market development. The reasoning is simple, only when there is 'something in the pot' (incremental funds entering), will there be 'something in the bowl' (funds rotating to other coins). At present, we should accumulate promising altcoins in batches, rather than complain about 'BTC sucking blood.'
Strategy:
Support levels to watch are 119200, 116411; the resistance level is tentatively set at 130800; the current key point is 120500, during the day need to pay attention to whether a reduction in volume opportunity appears during the retracement.
ETH
Ethereum at 4300 has already been firmly established, the 4700 level is still contested, and it is about to create a new historical high (not just the rebound high of this round), those who went all-in last Monday have now become wealthy!
Recently focusing on ETH to make real-time aggressive trades, placing orders is more difficult than before with Bitcoin and Ethereum, but the long position placed at 4180 the day before has already gained 600 dollars of space. Last night long positions were made at 4735, 4760-4775, and 4600 was added, the lowest was 4613. This wave did not synchronize with the skirt, don't panic, there are many opportunities in the secondary market, keep up with the rhythm, control positions and stop-loss, now is the right time to operate.
Strategy:
Support level to watch is the range of 4492-4500 and 4180; currently, there are no clear resistance levels. If Ethereum is strong, altcoins will be strong, is the altcoin season coming?!
Fans often ask: Which altcoins are worth buying?
Today I will clarify the criteria for selecting altcoins all at once. The next time you want to buy altcoins, first check if they meet these criteria:
1. Prioritize selecting old coins that have undergone a round of cycle washing (contrary to common sense but crucial); if you want to speculate on new narratives, go to the primary market; the winning rate of secondary new coins is low.
2. Choose coins with income (protocol or service income), can sustain the team through cash flow, no need to dump for cashing out; it's even better if income is linked to coin price (such as buybacks, dividends).
3. Reject air coins, choose those with actual business and naturally growing operations; those that only tell stories have already been rejected by institutions.
4. Meme coins that did not emerge from the primary market (including those on Binance's TON chain) are not to be touched.
5. Newly launched coins should not be touched if VC holdings are more than 5 times that of retail investors, at least wait until it drops to that price.
6. Listen less to calls, personally experience the product before buying, check user numbers and business; compare FDV with the last round of valuation to judge the price, do not buy based on feelings for coins that have dropped 80%, only buy those you understand and believe in — doing these can outperform 90% of people.
Finally selected a few of the most asked coins for analysis:
$DOGE in this round of the bull market is still looking towards around 1U
$BERA is the most promising coin in every round of the bull market, especially new public chains listed on major exchanges, bear chains are acceptable
$ONDO is looking towards the upward trend line, around 3U
$BEAMX is considered a very promising coin, the trend line is about to break, and after the breakthrough, there will be a significant rise
$FUN after breaking through and retracing, is not far from a big rise
$HOUSE this coin is considered a relatively good target, it has completed the breakthrough and retracement, and is definitely looking bullish for the future, but it's hard to say how much it can rise.
