Powell's dovish speech last night triggered a major rebound in the US stock and crypto markets. Bitcoin surged overnight to about 116,700, the 30-day moving average, while Ethereum broke the 2021 high, setting a new historical high of 4,887 USD.
BTC
Yesterday analyzed Bitcoin's trend; BTC fell to 11.16k as expected and rebounded 5500 points, reaching resistance at 11.73k, slightly retracing. 11.73k is a key resistance; breaking it will extend the upward trend. I believe this is a technical pullback, no need to panic; a pullback is a buying opportunity, suggest taking profit in batches.
In the short term, BTC may pull back; not recommended to short, better to go long as the direction is up. Suggest going long around 11.51k, add at 11.48k-11.38k, stop loss if it falls. After breaking 11.73k, the market will be fully bullish.
ETH
Ethereum surged 15% last night, Sweet Dream entered at a cost of 4200+, soaring to a new high! Currently, ETH has rebounded from oversold to overbought, and the short-term cycle is nearing its end. I suggest not to chase highs, wait for price retracement, and preferably go long again when combining support area with oversold signals.
Recently, during the big drop, some predicted ETH would fall to 3800, 3500, or even 2500; these levels are clearly incorrect and without basis.
I previously predicted ETH's extreme support at 3900, later corrected to major support at 4060 and minor support at 4262, bought accurately during the pullback.
Currently, ETH is liquidating shorts in the 5000-5800 range, survival rate below 10%. Main forces driving up costs aim to eliminate shorts. Following the trend, ETH will set new highs; shorts are the 'payers' of the feast, not the ones chasing high prices.
Suggest buying on dips: first batch at 4626-4612, add at 4572-4555, defense line at 4550-4508. Target new high at 4966, breaking 4888 is expected.
Altcoin
Ethereum surged to 4900, and altcoins also rebounded sharply. During this drop, I consistently advised everyone to buy quality altcoins: DOGE, XRP, LTC, AAVE, SUI, PEPE, LINK, MAGIC, all surged. I mainly traded PEPE and AAVE, and made a significant profit from this bottom-fishing.
Missed the first round of the price increase last night; don’t miss the opportunity for altcoin fluctuations this weekend, look for lagging altcoins that haven’t surged yet to position.
$NIL:
FHE track token recently surged, recommending low-position coin $NIL, current price about 0.31, stop loss at 0.26. New coin, market cap about 60 million, suggest light positions with low leverage.
$MM:
OKX strongly promotes it, strong IP attributes, good spread. After last night's wash, the trend is stable, market cap only 200,000, great potential, already bought in, welcome to discuss!
$LDO:
ETH is strong; if missed, consider LDO, a quality alternative.
$DORA:
Trading volume surges, 35M in the last 24 hours yesterday, 45M today, suspected to go on Binance Alpha, BSC meme coins may welcome a big bullish trend, worth watching!
$WLFI:
Launched on September 1st, Binance pre-contract price 0.4249, FDV 44.6 billion. Phase one public offering gained 28.32 times, phase two 8.5 times, unlocking 20% on the first day ensures capital preservation, the rest is pure profit!
There is no clear news on institutional token unlocks; $WLFI chooses to go live when the market is hot, expected to spark a wave of exchange listings, liquidity competition, and a frenzy of screenshots of riches.
Focus on $WLFI related hot tokens:
SOL chain $AOL
ETH chain $DOLO
BSC chain $U
