In mid-November, BTC was in a range of 87000 - 92000 points. Before last week's significant rise, the cost was mainly concentrated in the 90000 - 92000 point range.
From the daily perspective, after a 4-day adjustment period, BTC quickly rebounded when it dropped to around 92500 in the morning. This phenomenon clearly indicates that there is strong support from buying funds below, and the overall daily trend remains bullish.
From a 4-hour analysis, during yesterday's US market session, BTC experienced a significant pullback of over 6000 points. However, the K-line received strong support and rebounded powerfully when it retraced to the 90-day moving average of the 4-hour line, currently showing a large bullish candlestick pattern, with further upward potential.
For day trading strategy, attention should be focused on the pressure level in the 96000 - 97500 point range on the upside, while on the downside, the strong support area should be closely monitored at 93000 - 92000 points. Rebound opportunities can be observed near this support level.
ETH market analysis and trading strategy
On the daily level, ETH formed a large bullish candlestick yesterday. In the early hours, it experienced a downward spike due to BTC price fluctuations, rebounding significantly after retracing to the daily 7-day moving average at 3350. The overall daily trend shows an upward tendency.
From a 4-hour perspective, ETH maintains a trend of oscillating upwards, with the K-line steadily rising along the 30-day moving average of the 4-hour line. The multiple downward spikes last night indicate that the key support level below is at 3350.
In day trading, focus on the support strength at 3360 - 3300 and seize rebound opportunities; on the upside, pay attention to the pressure situation at 3550 - 3600.
Altcoin market dynamics and opportunity exploration
From the recent market performance where BTC adjusted while ETH strengthened, it can be inferred that the market focus is gradually shifting from BTC to altcoins.
In the gaming sector, the new coin OL rose another 40% on the same day, and its leader AXS is about to adjust to a recent low around 7.2. At this point, it is worth focusing on coins within the gaming sector that have catch-up potential.
The artificial intelligence sector has shown overall strong performance. Along with ETH's strong rise, GLM, based on decentralized computing power network of ETH blocks, doubled in two days. Its sector leader FET also has a demand for catch-up growth, which investors should closely monitor.
Key points from the primary market research report
Recently, the primary market activity has significantly decreased, with Sonala's on-chain activity continuing to decline. The SOL price has fallen by over 15%, and current market sentiment is relatively low.
ACT is in a consolidation state; it is recommended to wait for it to pull back to around a 300 million market cap before making layout operations. GOAT is currently not considered for entry due to excessive speculation. Pnut currently has a market cap of 1 billion USD and is still in the process of digesting speculation, so waiting for a pullback is necessary.
However, there are signs of recovery in the on-chain activity of BSC. Overall, the last round of primary market activity has temporarily receded. Investors should avoid blindly entering the market recently, as it will require at least more than half a month for market consolidation. It is more prudent to make decisions after various L1 public chains and mainstream coins stabilize.
