A trend reversal may happen this week!
If Bitcoin breaks $104,000, the cumulative short liquidation intensity on major CEXs will reach $915 million.
Conversely, if Bitcoin drops below $101,000, the cumulative long liquidation intensity on major CEXs will reach $609 million! In this long-short showdown, which side do you favor? Personally, I still favor the upside, and the inflow from ETFs will also come on weekdays.
Additionally, information regarding MicroStrategy also corroborates our continued optimism for the market.
MicroStrategy has been added to the NASDAQ 100 Index, effective December 23, 2024, which is expected to attract significant capital inflow. This inclusion could lead to net purchases of approximately $2 billion worth of stocks by exchange-traded funds (ETFs) and other passive investment vehicles tracking the index.
Various states in the U.S. are currently rolling out their own strategic Bitcoin reserve legislation. The U.S. is set to purchase a large amount of Bitcoin.
States have already begun submitting BTC strategic reserves in collaboration with the government.
Both pieces of information above are positive for BTC, providing ample reason to remain bullish next week.
Back to the market, since mid-November, ETH has repeatedly tested around $3000. That period looks quite similar to now, washing the market to numbness and then starting an uplift. Looking back now, isn't this trend the same? The price point has shifted to a pressure point of $4000; each time the pressure high point will be higher. So next time there’s an upward trend, basically there won’t be any chips below $4000.
As for the market, there’s not much to say. This weekend, Bitcoin was sideways, and Ethereum adjusted along with the altcoins. Currently, Bitcoin's market cap ratio is rebounding close to the pressure level; next week there’s a chance to see Bitcoin relatively sideways while the altcoin market cap ratio recovers.
So trading opportunities still exist on weekdays; each weekend is a game of retail investors, which is becoming increasingly boring. This week, a 'zero-cost' trading idea was introduced, which can be revisited for new insights. Usually, the breeze will also output some trading detail tips, and we need to keep improving during sideways trading to prepare for the next trade! Have a sense of direction!
Cherish the last opportunity to get in before the market explodes! Seize the upcoming cryptocurrencies with 100x potential!
DYDX
DYDX has recently experienced significant growth, with its price increasing by over 70% in the past month and nearly 20% in the past week. It is currently trading between $1.92 and $3.06, with the 10-day SMA slightly above the 100-day SMA, indicating strong bullish momentum. The RSI is about 42, suggesting that the token is not yet overbought. The recent resistance level is at $3.47; breaking this level could open up the path to the next resistance level of $4.61, presenting huge upside potential. As positive momentum builds, market observers are eagerly watching to see if DYDX can break through these key levels.
KAIA
Kaia (KAIA) is trading between $0.2387 and $0.4146. Although it dropped 14.38% in the past week, it surged 120.27% in the past month. The 10-day and 100-day simple moving averages converge around $0.27, indicating a possible consolidation before a breakout. The recent resistance level is $0.5064; breaking this resistance could push the price towards the second resistance level of $0.6823, over 60% higher from the current level. The relative strength index is neutrally at 46.81, suggesting there is room for upward movement. With the altcoin season approaching, the cryptocurrency market is preparing for a bull market, and Kaia may see substantial gains.
RAY
Raydium (RAY) has shown impressive growth, rising over 10% in the past week and over 15% in the past month. Its current price is around $5.47, with a recent resistance level at $5.68. The 10-day simple moving average is above the 100-day average, indicating good short-term momentum. With the RSI and stochastic indicators close to neutral levels, there is still room for further upside. If RAY breaks through the resistance level of $5.68, it may target the next goal of $6.37, indicating a substantial percentage increase. Given its 209% rise over the past six months, Raydium may continue to rise in the anticipated altcoin season.
UNI
Uniswap shows strong signs of rebound. Over the past month, the price of UNI has surged nearly 93%, currently trading between $14.21 and $21.24. The 10-day moving average is slightly above the 100-day moving average, indicating upward momentum. The RSI is around 43, with a low stochastic indicator at about 15, suggesting further price increase potential. If UNI breaks through the recent resistance level of $23.88, it may target the next level of $30.92, marking a significant price increase. With altcoins gaining attention in the market over the past week, UNI may be poised for a breakout.
