From yesterday to today, Bitcoin (BTC) has risen from 94K to 97K. The increase is not big, but it has made everyone a little excited. However, can this wave of growth continue? We have to wait and see. Other currencies have also risen, especially those altcoins, which have risen sharply. So how will Bitcoin go in the short term?
I personally think that Bitcoin may fluctuate between 94K and 99K, which is a normal rebound. We still have to wait patiently for it to break through. If you bought Bitcoin at a low price before, you can consider selling part of it at 99K and wait for new buying opportunities. There are still many people who are bullish in the market.
Let's talk about BNB again. It is estimated to fluctuate between 685 and 735. Yesterday it was slightly weaker than Bitcoin and Ethereum, after all, the 63rd airdrop is about to end, and many people may want to sell. If you are a long-term holder of BNB, you don't need to worry too much about this volatility. Platform tokens generally only explode at the end of a bull market.
As for Ethereum (ETH), it is expected to fluctuate between 3300 and 3550. Yesterday it was slightly stronger than Bitcoin, and we continue to monitor whether institutions are increasing their holdings. If institutions are buying more, holding ETH will be more reassuring.
Today's technical analysis of Bitcoin shows: In terms of K-line, the 1-hour level is down, the 4-hour level is up, the 12-hour level is up, and the daily line has just entered an upward state. Today's resistance is at 99800, and support is around 94500 USD.
Let's take a look at the altcoin situation.
In altcoins, the AI sector's AI, IO, AKT have also started to show a catch-up trend, with funds gradually flowing to traditional AI projects.
Yesterday, Binance listed contract trading for ai16z, zerebro, griffain, etc.
This actually means that the AI sector's market has now entered a frenzied phase, and there may be a need for a correction in the short term.
Remember to first recoup your principal, and you can continue to run with the remaining profits. Also, keep some bullets ready to deal with potential pullbacks.
In addition, BIO will open tonight, and the off-market price is already close to 1 USD.
The token BIO of the star project in the DeSci field, BIO Protocol, will open tonight. OKX announced that it will list the BIO/USDT spot trading pair at 6:15 PM Taiwan time.
Binance will list it at 6 PM tonight. From the off-market prices of Bitget and Gate.io, the current price of BIO is around 0.94 to 1 USD.
Fan Q&A:
Does TROY still have a chance?
This coin is now in the observation zone, and there are not many opportunities in the short term. I do not recommend playing with coins in the observation zone due to poor liquidity, and once in the observation zone, there is a risk of being delisted.
How about COW?
This coin needs to be adjusted. Previously, when it was low, no one called it out, and after it surged several times, suddenly a lot of people started calling for it, clearly indicating that there won't be significant actions in the short term.
Can LDO be held for the first quarter?
Yes, this coin has a strong correlation with Ethereum. If Ethereum performs well, LDO will naturally be strong too.
Does TRX still have room for growth? If so, what is a good entry position?
TRX completely depends on the founder. From the monthly chart, it has been rising since the last bull market, but this coin is relatively difficult to operate. Don't expect to make too much money from it; it might be better to switch to another target.
Can SOL be held?
SOL was one of the first to peak and also the first to adjust, so this round of rebound is also strong, and it can be held.
Will DYDX have a big trend next year? More than 5x increase?
It is advisable to lower expectations. A 5x increase may be a bit high; a 2 to 3x increase is more realistic. If expectations are too high and fall short, it will be very disappointing.
Is it time to sell FTT?
FTT seems to be about to compensate. Currently, there isn't a clear trend for a big market, but if good news turns into bad news, consider selling it. Otherwise, just place an order at the breakeven price to avoid losses.
Is the market improving?
It cannot be fully said that things are looking good yet. We need to observe. If SOL and Ethereum can perform well later, and Bitcoin does not continue to fall, the leading altcoins can drive the market, and the market will gradually improve.
Will there be a significant pullback for Bitcoin and Ethereum before Trump takes office? What is the expected position?
If the market has a rally before Trump takes office, there may be a short-term pullback. But if the market remains low before his entry like it is now, it will largely be digested in advance, so there won't be a major pullback, and positive news won't lead to a crash.
Based on my years of experience in trading cryptocurrencies, let me share my thoughts with you:
Recently, Pnut and People are likely to see a surge, so remember to take advantage of the high points to exit.
Trump takes office on January 20, and as a key player in the election, Pnut and the political meme coin People are expected to see a surge. If you have these two coins, consider exiting around January 20.
Regarding the coin People, I clearly tell everyone that it's best to clear out before the election because once Trump is in power, the political relevance will fade, and the coin itself will lose its appeal. If you haven't sold before, now is a good opportunity.
As for Neiro, it belongs to the dog series and has a larger narrative space. It surged when it was at 0.22, and I reminded everyone to sell a portion. If you haven't sold, you can wait for it to be listed on Coinbase North America when the market is good. Since it has already been listed on Coinbase International, the likelihood of it being listed on the North American main platform is high, but once it is listed, remember to sell.
Overall, I do not recommend entering these coins again. The main purpose of this article is to provide a strategy for friends who already hold these coins to exit at a higher point. Even if these coins rise further later, it doesn't matter; switching to a stronger coin can still yield gains.
After selling these coins, consider switching to other more stable coins, such as Pepe or Floki, which have institutional backing.
The biggest narrative for the next 3-4 months will still be the ETH upgrade and ETH ecosystem tokens. Now, surprisingly, the ETF funds for Ethereum are flowing in despite the trend, while Bitcoin's ETF is seeing outflows. This indicates that institutions are starting to adjust their portfolios, gradually shifting towards Ethereum. So, if you have funds after the election, paying attention to Ethereum-related tokens may yield good returns.
Let's take a look at ACT again. The coins that hot money enters cannot be too ambitious. I sold part of my position at 0.35 before, and I plan to continue betting on higher target positions. Today I see the price has dropped below 0.33, and it will fluctuate for a while in the short term. Personally, I have completely exited and am looking for new altcoin opportunities.
Finally, let's summarize some important recent news:
1. The Solana public chain has recently risen, and funds from the FTX exchange will start to be compensated. The exchange rate between Sol and ETH has reversed.
2. In the exchange's AI sector, like AI, NFP, Magic, ATA, IO, AKT, GRASS, etc., have all started to catch up. Magic is backed by the founder of AI16Z, who previously worked at Magic and plans to develop an AI monkey game in the future. Now, funds are starting to flow into those projects with the worst fundamentals, and the AI market has entered a stage of emotional frenzy.
3. The on-chain AI sector is experiencing a collective correction, but small tokens like Cookie, Alch, and Swarms are still rising. BN has opened new contracts for AI16Z, Zerebro, and Griffain, but these are not listed on the spot market.
4. Meme coins from the Murad series, such as Fartcoin, SPX, GIAA, etc., have surged recently, and SPX's market cap has surpassed 1 billion USD, setting a new high.
5. BN will list Desci's Bio today, with a pre-market valuation between 2 to 3 billion USD.