Often flexibly responding in trading, but at this moment, I must shout: 'Bull beer! This is definitely not a sell-off but a take-off!'
Everyone is going all out, go bulls! No matter if you are a bull or a bear, as long as you are in the crypto circle, you are destined to be part of the bulls! Bitcoin is finally about to reach new heights.
The big brother is continuously sprinting, and the younger brothers are starting to realize that this time is different from the past, all preparing to take action. Confidence is returning, and the market is about to welcome a wave of wealth creation!
As expected, Bitcoin broke through 69,000.
I had already reminded everyone about yesterday's market; there would be a wave of increases in the evening, and indeed it was as expected! Around 9 PM yesterday, Bitcoin quickly surged to around 69,000.
Even Binance tweeted: BTC is about to 'TO THE MOON'! At 6 AM today, a powerful bullish candle shot up to 69,500, clearly showcasing the bullish advantage!
Tonight, once the U.S. stock market opens, if the sentiment is positive, the 70,000 mark will be just a blink away! Currently, the continuous accumulation of Bitcoin ETFs has pushed the total holding volume beyond 1.126 million BTC, finally exceeding Satoshi Nakamoto's 1.1 million, providing ample reasons for Wall Street institutions to initiate a market.
This round of the bull market is clearly led by ETFs. After a year of chip grabbing, the market has entered a phase of consolidation, and once the chips are in hand, the next step strategy will be to pull up and lure in more buyers.
Yesterday, the Ethereum series took off strongly; the ENS, SSV, and ETHFI we laid out also gained decent profits. Various altcoin sectors are rotating, with Meme, public chains, and gaming sectors all starting up, while only inscriptions and Telegram sectors are still waiting for action.
Altcoins are frequently stirring things up, coupled with pump support, becoming the focus of the entire network. Yesterday, APE’s street dog surged by 80%, sparking countless discussions among those who missed out, just sold, were pre-emptively positioned, and chasing the increase.
Today's market analysis:
From the K-line perspective, BTC's 1-hour, 4-hour, and 12-hour levels all show an upward trend. The daily candlestick has successfully broken through the trend line suppression. Although the process was a bit sluggish, a breakthrough is still a breakthrough!
Current long strategy: BTC 68631, 68010 long, 67627 stop loss, target 70500. Get ready for the next wave!
ETH performed brilliantly yesterday! The ETH/BTC exchange rate reversed, and Ethereum broke through the key resistance level of 2720, leading a series of tokens to take off.
As the favorable conditions in November approach, and with expectations for the Prague upgrade at the end of the year, it's time to pay attention to Ethereum and its series of tokens!
The resistance level above 2815 will definitely be broken, and those shorting will become the fuel of the market. Operation advice: ETH 2706.5, 2677 long, 2662.7 stop loss, target 2761.
SOL has demonstrated strong hard power, becoming the king of altcoins. Yesterday I mentioned, 'the ones that run away are golden dogs, and those that can't run are street dogs,' indeed, SOL is like a big golden dog!
The key resistance level of 163 has been successfully broken and has now turned into strong support, with trading volume almost surpassing Ethereum. The upper 175 and 185 will be strong resistance levels; buying on dips is the best strategy, and SOL broke through the 4-hour key resistance level of 162.67!
In every market cycle, there will always be smart investors trying to bottom fish or top-tick, but they often get washed out and disappear into the annals of history.
Those KOLs who successfully bottom-fished and top-ticked are always replaced in every cycle. From glory to regret, it only takes one cycle.
Looking back at the past 15 years, BTC has gone through first wave, second wave, third wave, and fourth wave bull and bear cycles. So, what will the fifth wave look like?
Is it a power-law style increase diminishing, or a reverse power-law breakthrough, turning 150,000 from a resistance level to support, or even sprinting to hundreds of thousands, completely breaking through the limitations of the previous four waves and stepping onto a new level, a new starting point? This question deserves our deep thought!
Many people are playing MEME, but they don't really know what MEME is.
Here are some common misunderstandings:
1. MEME has no whales; it's all retail investors.
2. MEME relies on slogans; as long as the slogan is loud, it can rise.
3. MEME is only impressive in the hands of foreigners; locals don't take advantage.
4. MEME can only be played in PVP, you must buy early and run fast.
5. MEME will never rise again once it starts to fall.
If you still hold outdated views about MEME, you are likely to struggle to make money in this field. I have long said that MEME is a renaissance in the crypto sphere, and venture capitalists do not take retail investors seriously, leading to retail investors no longer buying in.
It's simple! If so-called innovations, technologies, and narratives ultimately turn out to be castles in the air, it’s better to skip those poor performances and go straight to price consensus—trading!
Although I do not deny that this renaissance could technically be a regression, at least it is the awakening and resistance of retail investors in the crypto circle. I cannot change the situation, but I can choose to participate in or exit your projects.
After this wave, MEME will become an eternal narrative in the crypto world. Regardless of how future bull and bear cycles change, there will always be wealth stories brought by MEME on-chain; the alpha returns everyone desires will inevitably come from on-chain movements! Even if Bitcoin rises to 500,000 or 1,000,000, this fact will not change!
Because Bitcoin is the biggest MEME! Facing this once-in-a-millennium wealth opportunity, the best strategy is to 'stay in the car.'
Let me tell you about a few potential street dogs:
1.SATS
It's been half a year in the consolidation range without a breakout; this can now be seen as an accumulation phase, and once it's fully accumulated, it might just take off.
It has bounced several times from the strong support line, which has considerable strength; unless there is a market crash, it is not easy to break.
2.Bonk
On the Solana blockchain, it's a Shiba Inu-themed memecoin. Half of the supply was airdropped to Solana's NFT and DeFi participants, quickly gaining attention and increasing in value.
With the development of Solana, it might become a long-term winner in the memecoin sector.
3.babydoge
This coin is really a potential stock, backed by strong support from a powerful dog dealer. After a long period of consolidation, it's finally about to explode! The technical pattern is just like a bulldozer, with a bullish breakout after three bearish candles, ready to launch, a big green candle is imminent.
When other altcoins are correcting, this coin is absolutely a priority choice for allocation, and it has also sponsored the Dubai 2024 Binance Blockchain Week, making it very likely to go on Coinbase, with limitless prospects!
