If we were to say that the season of widespread altcoin rises is here, it should be far from the truth.
The alts/btc ratio has finally stopped falling these past few days, which is good news.
However, overall it seems that alts are preparing to go bearish, but are being pulled up by a stronger btc.
More gains are needed to confirm strength, and currently, there is no widespread rise in altcoins. Individual strong bull markets align more with a divergence in bull market patterns.
ETH has currently broken through the large triangle formation, which has been operating within this pattern for several months. Once it breaks out, it won't be easy to fall back, so I don't think there will be a significant decline here. Pay attention to the support at 2800-2780 below; if it doesn't break, there is a high probability that it will continue to rise.
The Federal Reserve will hold an interest rate meeting tonight, and generally, there will be a drop when there is a meeting. Keep a tail position during the day (for those with low holding costs), enter a front position when it fluctuates at night, and buy the bottom in the second half of the night.
BTC currently has a 2-hour dead cross, 73300 and 72800 directly enter the market, and 72350 is used as a cover position.
ETH currently has only a small-level retracement of 15 minutes, and the depth of the retracement can only be seen at night. Temporarily lock in 2770-2742 to enter the front position. This is the starting point for entering 3 and attacking 4.
Sol currently has a 2-hour dead cross, and the lowest point is 181.50. Even if Sol reaches 181, the high point of the band can also be seen at 198-199. If it can directly stand at 188, the high point of the band can directly see the previous high of 206.
At present, the bulls are in full swing, and the low-multiple points cannot be used as a reference for high-altitude stop-profit points. For example, if we look at the sol 2-hour death cross now, the lowest retracement may be 181, but if the small level below 30 minutes is strong (the strong small level indicator of the minute means that retail investors have a strong desire to enter the market), the retracement will be intercepted at 187-184. Therefore, you can enter the first position when it retracements here. It will be clearer when the US market opens in the evening.
The entire market is making money due to Trump's victory, but only his meme coin has plummeted. Even if the political hype ends, it shouldn't drop this badly. Brothers, garbage coin, do not buy
Strongly suspect that Musk is a person kissed by God, his life is simply like a cheat code, just taking out any one thing is a height that ordinary people can never reach in a lifetime! So awesome!
$BTC's current contract open interest has returned to its peak of $43.997 billion, with most of the growth caused by the US election. From 8 AM to 4 PM, the contract open interest climbed by $3.997 billion, most of which are long positions.
In a high leverage and high liquidity market, the confirmation of Trump's election means that positive news has turned into negative for me. My subjective view is that there will definitely be a washout for those who chased the high at 74000. Below 74000, there are all long positions, and the liquidating price for the short positions has already risen to 76000.
Therefore, I believe that a pullback in the current market before rising is a normal market behavior. I have opened a short position on $BTC against the trend to see if it can drop below the price of 73000. If it doesn't drop, I will take profit in time!
Last night and this morning, the bullish sentiment market, the entry speed is fast, once it reaches the climax, it will go sideways, and then it will fall back. Don't eat a fat man in a short-term contract. You should be prepared for a fall back when you see a fall back. BTC will continue to set new highs only when it stands at 73,800. Buy low when it falls back to 72,800-72,300.
ETH broke through 2560 to 2602 in the morning, buy low when it falls back to 2560-2536.
Sol rose synchronously with BTC and broke through 184 to 188, buy low when it falls back to the support of 178.50-174.50.
In the recent volatile downward correction, the price did not retreat to the expected 65-66 range, thus failing to provide an ideal buying opportunity. However, while monitoring the market with friends last night, I noticed a reversal signal in Bitcoin's price after it surpassed 695, so I began to accumulate some long positions in altcoins, seizing an upward opportunity and avoiding missing out.
Currently, as the price gradually pulls back, I have started to reduce my positions while still maintaining a swing trading strategy. I plan to wait for a pullback after positive news materializes before re-entering the market. The two target price levels I set earlier are still applicable and can continue to be monitored.
US investors are frantically buying BTC on Coinbase
Recently, after 37 consecutive days of negative premium, the Coinbase spot premium index finally turned positive today, showing a significant improvement in market sentiment.
This change means that US investors' buying enthusiasm has been restored, indicating that they are now actively entering the market to buy Bitcoin.
I woke up around four or five this morning and just happened to catch the lowest point, immediately shouting to buy the dip in the group. The morning rebound wasn't high yet, but since the afternoon session, the European market's rebound has been a bit stronger, all within expectations. Now, the 12-hour MACD has already turned upwards, and soon the 1-day line will turn as well. BTC has pulled back from 73600 to this morning's 66800, a drop of nearly 6800 points. Even if it goes down further in the short term, there is only an adjustment space of about 700 to over 2000 points. So, the buy orders I suggested in the range of 67700-66850 over the past two days, I mentioned this morning to take 2/3 or 3/4 off at 68250 and 68800, and for the remaining position, set a higher take profit at 69400, ensuring to break even near my average cost price. For the conservative ones, they can also close all positions. Regardless, do not let this buy position fluctuate and give back profits after the election results come out tomorrow; otherwise, if it drops down again to new lows, adding to your position will be heavier. Although the rebound will also bring quick profits, the profit won't be as substantial as holding an empty position to seize a bigger opportunity.
As for spot trading, for those who already have a lot of positions like me, I have no motivation to add more at this position. For example, my SOL spot cost is 46, if I add more, my average cost will rise to above 80, which is unacceptable. I will gradually sell the low-cost spot until the entire bull market ends, and I don’t need to enter the market again midway. Those who only do spot trading and not contracts can add a bit to make some short to medium-term profits; for today’s low buying opportunity in spot trading, they can hold onto it. If there are new lows, they can add once more.
BTC, ETH Market Analysis: Yesterday, BTC continued to decline, briefly dropping below 67000 before quickly recovering. The expectation for this round of decline is related to the upcoming end of the election, with capital temporarily retreating to observe. Currently, the 4-hour level is basically consolidated, and the bottom divergence is very clear. The expectation for a rebound during the day is present. Currently, Trump's support rate in the election is higher, so we can consider building positions during the day. The daily level remains healthy, and the weekly level has formed a golden cross. Hold your positions firmly, maintain confidence, and continue to be bullish. ETH followed BTC's decline yesterday, briefly dropping to around 2350. Currently, the 4-hour level has also formed a divergence pattern, and the expectation for a rebound during the day is present. We can consider building positions and remain bullish. The target range remains unchanged at 2800-3000.
Today's Highlights
BTC: The 1-hour and 4-hour levels are below healthy levels, while the daily level has returned to a healthy level. The expectation for a rebound during the day is present, and it is recommended to build positions and follow up. The expectation for the long term has not weakened. The support level during the day is 67000-67500, and the resistance level is 69500-70000.
ETH: The 1-hour and 4-hour levels are below healthy levels, and the daily level is also below healthy levels. The expectation for a rebound during the day is present, and it is recommended to build positions and follow up. For those who have positions, hold them. The resistance level during the day is 2500-2530, and the support level is 2350-2400.
Just kidding: Miners really have it tough. Last week, as the price of Bitcoin rose, the overall network hash rate also reached a new high, and the competition among miners can be said to be very intense.
However, with this week's price correction, the hash rate has also seen a noticeable decline. I guess this may be because some low-hash-rate mining machines only operate when the price of Bitcoin is relatively high. When the price fell below 70,000, many inefficient mining machines stopped working, leading to a significant drop in hash rate.