Morning review: Bitcoin retreated yesterday, and I believe this is a normal pullback and another opportunity for us to enter!
Last night, Bitcoin broke below 96,000 points and quickly recovered. The same situation occurred on November 21, when it dipped and then quickly regained. Therefore, we see this drop as a normal spike and not the end of the upward trend! I have consistently pointed out that the Fibonacci resistance for Bitcoin is at 102,500 points. From the current market conditions, as long as Bitcoin does not break below this upward channel's lower boundary, we can continue to mainly long at low positions. We need to closely monitor if the critical 100,000 point level will be broken, as everyone's attention is currently on this level. Similarly, the market manipulators will also be watching this point. Currently, Bitcoin is moving upward under huge leverage; today the short position has increased by about 2 billion dollars compared to last week, but there is still a significant gap compared to the upward trend.
At this stage, the upward trend of Bitcoin remains very strong, so don’t hesitate in your decision-making. We currently firmly see the upward trend! Every time there is a pullback, it’s an opportunity to enter!
Regarding the altcoins: the rotation among sectors has already begun. The Metaverse has shown several phenomenal big winners like SAND/MAIGC/YGG/MANA from yesterday to today, performing exceptionally well! The sectors we have invested in, such as YGG/MAGIC, are currently achieving very good results!
Overall, the altcoin situation is currently a great opportunity to re-enter. Friends who are already in, remember to adjust your positions in time, don’t hold on stubbornly!
If you don’t have suitable altcoins in hand, I suggest you pick up DOGE. Currently, after a quick dip in the early morning, Dogecoin has rapidly regained its peak and still has strong upward momentum! The resistance above DOGE is at 0.57!
Let me elaborate on WLD. Currently, WLD has just broken through the MA200 resistance. When I first mentioned it, it was around 1.85; the second time many people asked what I was doing, and I said WLD, at that time it was around 2.1. The first time WLD surged to 2.8 in one night, some of us took profits, while some are still holding! If you don’t have good options, WLD at this position is also a very good choice!
