Market Analysis
The price of Bitcoin has been going back and forth for four days. It can neither break through nor smash. From the first rush to 58,000 on Tuesday to today, it has been four times. Yesterday, the daily closing line was also a semi-yang upper pin state. It has been rushing to high points in the early morning for several consecutive days, and it feels powerless. Yesterday, there was a pullback of the upper lead, and it repeatedly rushed to above 58,000 in the early morning. Such a market has obvious signs of shipment. It is impossible to rush forward, and it is not so easy to fall. It is better to smash the market at 60,000 at once, which is more refreshing. Let’s see if today’s Friday market is a Black Friday. Generally speaking, today should close with a negative line trend, indicating Black Friday.
Today's highlights
BTC is rising again at the intraday level, and the volume is not strong. This position has been hit for several days in a row, and it has been slow to move. There is a saying that if it can't rise, it will fall. Even if it can go up, how much and how much space there is, as long as you have this budget first, the market will be like this. There is no volume performance near the four-hour resistance position at the intraday level, so the four-hour level can first look at the retracement stage. The first support point is in the 56000-56600 range. If it falls below the first support position under the condition of thorough volume today, you can pay attention to the effective support position of the day, 54800-55200.
ETH's performance is basically in line with expectations. It is absent in rebounds but present in declines. It is not as volatile as the big pie. The intraday resistance is obvious. The intraday support level should focus on the line near 2260. The effective support level should focus on the line between 2210 and 2230. The second pie is more suitable for the situation. The big pie is really a bit disgusting.
What should I choose for bottom fishing?
AXL: Axelar, the "all-purpose glue" in the cross-chain world, started late but has strong technology, comparable to Chainlink. It bridges assets very quickly and at a low cost. AXL has recently pulled back a bit, but it has a large circulation volume and will make big moves in the future, and is expected to become a major interoperability leader in the crypto world.
FTM: Fantom, a big star in last year's bull market, has returned as a hero despite the hacker incident! Andre Cronje personally took charge of the Sonic brand upgrade, and its technology is close to Solana, while maintaining EVM compatibility. With low inflation, no unlocked tokens, and strong funding, developers still love it, and its revival is just around the corner.
SOL: Solana, although it has been plagued by problems, has a good foundation and is now oversold. In the long run, it is very stable, and a 6-7x return is not a dream. If the Firedancer upgrade is powerful, it will have a bright future. However, L2 expansion is a bit risky and may weaken its unique charm as a native scalable chain.
ICP: Internet Computer, has seen a good rise recently, jumping more than 10% in 24 hours. The consumption rate of ICP tokens has increased sharply, the supply has decreased, and the price has naturally risen. The market sentiment is also optimistic. Although it may go sideways in the short term, it is optimistic in the long term.
In short, these four coins have their own advantages. You need to be cautious when buying at the bottom, but the opportunity is indeed in front of you. Investment is risky, so be cautious when entering the market! Pay attention to it. There are more articles I have posted before. You can go and read them. They will definitely help you avoid half the detours in the cryptocurrency circle.
Some advice for investors
1. Don’t be easily cheated of low-priced chips, be firm in your faith, and prevent the dog dealer from knocking and smashing the market
2. It is always a taboo to chase the rise and sell the fall, and to enter and exit with full position. The general trend is favorable. It is lower risk, lower cost and greater profit to open positions in batches when the price falls than to chase the rise.
3. Allocate profits reasonably and maximize the release of funds instead of continuously adding positions
4. When the price rises sharply, sell the money; when the price falls sharply, keep the money. At all times, you should have a positive attitude, do not speculate, do not be impetuous, do not be greedy, do not be afraid, and do not fight an unprepared battle.
5. The ambush or private placement of low-priced coins in the front is to rely on experience and bet on the future of the coin with the dog family. The secondary market game in the back is to rely on technical aspects and news to follow the dealer. Don't put the cart before the horse, and end up in a mess.
6. When building a position or shipping a product, you must divide it into different levels and gradually increase the price to effectively control the ratio of risk and profit.
7. Be familiar with the linkage effect. When trading coins, look at the market and pay attention to the trends of other coins. Each coin is not isolated in the market. They seem to have no connection, but in fact, they are intricately connected. To understand the linkage effect, you need to understand the coins and make full use of the consulting tool APP.
8. The positions should be allocated reasonably. The configuration of hot coins and value coins should be reasonable. Attention should be paid to the ability to withstand pressure and the ratio of profit intake. Being too conservative will lead to missed opportunities, while being too aggressive may lead to high risks!
The biggest feature of value coins is stability, while the biggest feature of hot coins is volatility. They may rise to the top or fall to zero in one battle.
9. Investing with spare money is the foundation. Having coins on the market, oil in the account, and money in your pocket is the safest and most secure standard. You can’t go all-in. The grasp of risk control and the reasonable allocation of funds are the key to your mentality and success or failure.
