On Saturday, Powell's overnight speech revealed dovish tones, leading to a wild rebound in the crypto market linked to the US stock market. BTC suddenly surged to break through 11.7k overnight. ETH took the opportunity to rebound to the previous high of 2021 and slightly exceeded it, continuing to create a historical new high of 4887 USD. Such a crazy increase is rarely seen in a year; catching it once can be a joy for a year.
Market Sentiment
Fear and Greed Index: Fear and Greed Index: 59, this index is neutral because although the coin price has risen, market sentiment has not clearly turned bullish, indicating that traders remain cautious about the sustainability of the overall market.
Liquidation Data: In the past 24 hours, a total of 183,317 people were liquidated across the network, with a total liquidation amount of $771 million; long positions liquidated for $291 million and short positions liquidated for $480 million. Today, the bears were utterly crushed!
Was last night's surge enjoyable? I estimate that many brothers were not happy, as their short positions were trapped, either chasing shorts all the way or cutting losses, so I didn’t post levels last night.
Since positive news keeps coming, is it necessary to short? Wouldn't joining the bulls be more enjoyable?
The market surged sharply last night due to positive news, followed by a correction in the late night. Today is the weekend, and the volatility is expected to be small. As long as it doesn’t drop below the early morning correction low, the market will continue to rise. Pay attention to the white line position I provided today; only if it stabilizes above the white line can the correction be considered over, and the market will continue to surge!
BTC
Bitcoin is focusing on the 1165 level today. Only if it stabilizes above 1165, this wave of 1-hour level correction can be considered over, and the market will continue to rise. The upper pressure levels are observed around 117395, 117880, and 118558.
If it doesn't stabilize above 1165 today, the correction may continue. As long as it doesn't drop below the previous low of 1154, there is still an opportunity for a rise. If it drops below 1154, a 2-hour level correction will start, with support levels to watch around 114250, 113000, and 111630.
ETH
Ethereum is focusing on the 4795 level today. Only if it stabilizes above 4795, this wave of 1-hour level correction can be considered over, and the market will continue to rise. The upper pressure levels are observed around 4830, 4858, and 4888 (with small pressure at 4765).
If it doesn't stabilize above 4795 today, it will continue to retest, with support levels to watch around 4695, 4663, and 4640.
I say this sincerely: this round of the bull market is quite 'strange'.
Prominent features include: BTC and ETH showing abnormal movements, directly rising like 'pulling onions from dry land' with almost no reversals, leaving many people missing out; altcoins are even more polarized, with the Ethereum-based altcoins that were silent for the past two years suddenly surging and then plummeting, catching retail investors off guard; while many previously popular meme coins have remained quiet, with very few actually 'on the bus', leading to even more unscrupulous operations by market makers.
The rhythm of the bull market has changed significantly: in the early years without leverage, BTC continued to rise; later in the leverage era, profits were made by 'spike trading'; now due to the expansion of scale and the rise of quantitative grids, BTC often rises and falls directly (sideways often means reversal, making it easy to exit when trading waves);
Opportunities for altcoins have sharply decreased: while there are stories of dozens of times returns in each cycle, in 2017 altcoins generally rose, and in 2021 about half rose, this time only less than 5% took off, making it much harder to select coins; choosing wrong can lead to completely missing out.
Dividends are gradually fading, and constant observation of the market and adjustment of strategies are necessary to profit. The subsequent influx of ETF funds will exacerbate this trend, and it's advisable to cherish the current bull market.
How to select coins? The following can serve as a reference:
Public Chain: $ETH, undoubtedly the leader, performing stronger than many altcoins.
RWA: $LINK, oracles are the core of RWA and have been performing strongly recently.
DeFi: $AAVE, $UNI, blue-chip projects, with solid positions.
Stablecoins: $CRCL from the US stock background and $ENA from the crypto circle. $CRCL has recently corrected to a suitable level and is worth attention.
AI: No clear leader at present.
Meme: The market is quite chaotic, lacking leading projects.
DeSci: $BIO, after half a year of washing, the recent trend is eye-catching.
The craze for on-chain memecoins is returning!
SOL broke through $200, with a collective rebound of memecoins on the Solana chain. After the Xlayer craze, Solana's long-awaited explosive power is stronger, with great potential for the golden dog.
$Spark, I really let my 16m group friends get in. Its narrative is clear and simple, the first MEME endorsed by Sesame Street, with brilliant trading techniques, and a market cap of over 100 million USD is inevitable! Let's witness it together this month!
Ethereum (the E chain has been under pressure longer than the S chain) has been silent longer, with substantial funds. Once the meme ignites, epic golden dogs can be expected, and those who catch it early can become rich.
Additionally, it should be noted that Trump's wlfi No. 1 is launching on Ethereum, which may siphon off the entire chain market while bringing heat to the E chain. Be cautious in timing entry and exit.
