Overnight, BTC's pullback pierced the 5-day moving average of 96.8k, briefly breaking below 96k, then rebounding, pulling back to the 5-day moving average of 97.4k this morning. After several pullbacks, the BTC greed-fear index still belongs to extreme greed. It seems to be a meticulously designed hunting action aimed at bursting the long leverage lurking below 96k.
Doing things can't compare to being a person; being a person can't compare to creating a situation; creating a situation can't compare to breaking a situation; breaking a situation can't compare to holding the bottom cards...
It's said that bull markets often have pullbacks; who exactly is still buying at 100K in this round of the bull market?
My view is that if it can't hold between 94k to 96k, the probability of continuing to drop is greater. However, for those who haven't boarded yet, the pullback can be seen as an opportunity.
Talking about today's daily BTC market analysis, from the K-line perspective, the 1-hour level is down, the 4-hour level is rebounding, the 12-hour level is down, and the daily line is currently leaning towards an adjustment trend. However, the volume and momentum are still very strong, and there is uncertainty about whether it can break out of the adjustment. Therefore, we just need to hold our long positions with peace of mind, as the adjustment here doesn't significantly affect us. The intraday resistance level is 99400, and the support level is 95000 USD.
Let’s talk again about Bitcoin's rebound on Sunday, the metaverse surged, and SEAL and CLore continue to maintain their strength.
SAND surged 76% in one day, old A8 still has its style, MANA surged 37%. OXT surged 40%, and XTZ surged 26%.
In this round of market, so far, inscriptions are at the bottom, and AI has also weakened. These two were the major hotspots when the bull market started, while MEME and public chains, and the metaverse have become strong, DEFI has not yet emerged. The first round of hotspots DEPIN, RWA, and modularization seems to have not yet shown. The wind really changes direction quickly; I didn't expect the major hotspot of the first round to be replaced by others in the second round. In the past, major hotspots could last throughout the entire bull market, usually at least two rounds. This time it might come a bit late.
This bull market has already exceeded expectations, especially old A8 compared to its second bull market, such as XRP and XLM. Today, the best performer was SEAL, while CLore continues to maintain its strength. Currently, the market is adjusting, so there is no need to worry about the overall market. Many altcoins are also getting serious now, will they rise and never fall again?
The bull market of 2021 was a realm for newcomers in cryptocurrency, while 2024 will be a realm for traditional finance and veteran crypto traders. This round of the bull market will be very wild and relatively difficult. It’s not like in 2021 when any trash you buy could skyrocket.
The script of this round of the bull market is hard for even many old investors to understand. To play well in this round of the bull market, in addition to rich experience, it also requires stronger determination and deeper understanding, without getting stuck in a specific sector, and the requirement for position will be higher.
To judge market speculation and new tracks, one can pay attention to Binance, CB dynamics, the macro situation in the US, mainstream media, and US stock hotspots, as well as the statements of celebrities in the crypto field, looking for corresponding narrative projects in the crypto market and analyzing them, closely following the direction of market speculation. The market is always right.
In the past one or two years, new tracks like Depin, RWA, Payfi, BTCfi have emerged. Attention should be paid to whether there are similar projects favored by large funds. The recent speculation on DOGE and PNUT is an example; even if it's hard to predict, timely follow-up can seize opportunities, after all, PNUT was not achieved overnight.
Today, a new fan asked me if the main upward wave of blockchain games is coming in spring?
In the sector, the gaming blockchain sector has started to rank first in growth, with YGG leading the way. The entire sector is sure to rise next, have you bought in?
Regarding the analysis of the blockchain gaming sector, I have done a detailed internal analysis today (more can be found in my previous articles; I have mentioned this many times, so I won't elaborate here). Are there any other questions? I will answer them one by one, thank you everyone.
