A new round of major market trends is quietly brewing:
1. Bitcoin ($BTC) weekly perspective: If we consider October 16, 2023, as the starting point of this bull market, the current pullback is a rebound after the second touch of the lower Bollinger Band. Judging from the price pattern, it still retains characteristics of a bull market. Even if the market turns bearish later, the weekly level is likely to first form a secondary peak before changing the trend. Therefore, this round of rebound is expected to reach at least around 93500 or even higher.
2. 4-hour level market analysis: The market has experienced three or more higher highs and lows, increasing the possibility of reversal. At least from the current situation, the probability of breaking through is gradually increasing.
3. Altcoin performance: Many altcoins at the bottom have started trial trading, each with their own rhythm, which is a positive signal of mutual verification. Moreover, many altcoins are seeing low trading activity, which is the timing for major players to position themselves. At the same time, it is essential to pay attention to the key factor—trading volume. Once there is an abnormal change in trading volume, a large influx of speculative funds will re-enter, triggering a market following trend (FOMO).
I share this not to blindly instill investment beliefs in everyone, but because I believe one should possess advanced market sensitivity. The current environment in the cryptocurrency space is different from the past, with poor market sustainability. If you do not position yourself in this round of trends in advance, when the market regains confidence, you may very well become a bag holder.
