Last night's market movement directly wiped out 2.2 billion in liquidity, with over 85,000 accounts liquidated to zero. Major coins rebounded first, driving altcoins; #BNB was pushed to break new highs by #OKB, getting closer to the 1000 USD target I mentioned.
Bitcoin encountered resistance around 115,000, but the pullback volume is not large. The 4-hour MACD has formed a bottom golden cross, looking short-term towards 115,700.
Ethereum completed an upward move on the 4-hour chart and may pull back to 4200 today, but overall remains healthy. I reminded yesterday not to despair at this stage; $DOGE, $UNI, $BNB, $OP, $RSR could all explode anytime as long as the market stabilizes.
Regarding the altcoin predictions, I've mentioned them more than once (you can check historical articles). Today, I will dissect these altcoins:
ETH: The fourth challenge of 4000
This time Ethereum broke through 4000 USD, marking the fourth surge in nearly 500 days. Many people are torn: is the bull market entering the mid-term or nearing its end?
My view is: there’s no need to overthink it. The trend remains; as long as you hold during a bull market, even if you don't buy at the lowest point, long-term prospects are still promising. The real question is - are you investing for the long term or short term?
If you misidentify your positioning, your mindset will be led by emotions.
Remember: there is no 'free money' here. Whether you can make a profit depends on execution, not on fantasizing about perfect entry and exit points. Don't be misled by short-term fluctuations; keep a long-term perspective; opportunities in the bull market have just begun.
BNB & OKB: The game of platform tokens.
BNB's trend is quite stable, pulling back before breaking through; the target remains four digits. It is now back around 880, just 20% away from a thousand.
And the potential of $OKB should not be overlooked. Compliance, burn, and cross-chain popularity support could very likely replicate BNB's path in 2021, rising to unbelievable levels. As the world's second-largest platform token, its market cap undervaluation effect is being overlooked.
#DYDX: Descending wedge, has fallen below the issue price. My personal view is that around 1.9 is a conservative target; if it hits 2.78, consider taking some profits.
#SOL: ETF launches on October 16, and speculation is evident. The pressure around 185.8 has been broken; consider buying on dips in the short term, targeting 200.
#RSR: Stablecoin + payment system narrative, on-chain collateral, with clear positioning. After three pullbacks, the bearish momentum has diminished, and support remains. Gradually build positions around 0.75; the trend is still upward.
#UNI: Still the same view, an undervalued leader, expected market cap could potentially challenge BNB's height.
So where is the market's next new narrative?
The hardest part of the bull market is not seeing how much BTC rises but determining the next 'big narrative'.
In the previous cycle, MEME coins ignited the emotions, but now the hot scripts have basically been overcooked. The market makers will still create FOMO, pushing retail investors to take the last hit. The market needs new stories, and I believe the answer might be:
RWA (Real Assets on the Chain)
DeSci (Decentralized Science)
RWA has become the biggest hotspot this year; I will briefly outline a few:
HIFI: Waiting for the 'zombie' market after the storm.
EPIC: Small market cap, fully circulated, may replicate the USUAL trend.
ONDO: Good in all aspects, the only downside is that it's too heavy.
PENDLE: An innovative DeFi protocol, worth watching after the market stabilizes.
INJ: The last wave of 50x myth, its historical mission has been completed.
Others like AVAX, ICP, CHR, etc., are basically in marginal states, not looking in the short term.
My Summary
Last night's crash washed away floating capital and eliminated countless fantasies of 'getting rich overnight' for small investors.
But from a broader perspective, the bull market has not ended; instead, it has entered a new phase. Opportunities still exist, but not everyone can profit.
Don't forget:
👉 Those who can hold onto core assets are often the ones who can outperform the market.
👉 True wealth transfer occurs amidst repeated 'reshuffling' and 'narrative switching'.
👉 This time, it could be RWA and DeSci.
The market is not short of opportunities; what it lacks is patience and execution.
That's it for this article! If you're still unclear about the direction in the crypto space, it might be better to layout your strategy with me. If you don't, in the next wave of the market, you might be the one left on the other side.
