Market Review:
The total market value of cryptocurrencies has exceeded $2.9 trillion, BTC's market value has broken $1.56 trillion to reach a new high, and SOL's market value has surpassed $100 billion, ranking among the top 200 global assets. With the pace of reductions in various countries, the inflow of market funds has significantly increased. Apart from some leading tokens that are steadily rising, some small-cap tokens are surging dramatically as they ride the wave of popularity!
Technical Analysis:
BTC: The weekly chart closed with a large bullish candlestick, with an increase of 17%, rising more than 11500 points. After a slight pullback of over a thousand points at the opening, it continued to rise. The daily chart, after a narrow sideways adjustment last Friday and Saturday, saw a strong bullish candlestick on Sunday, with the bullish trend intensifying under positive influences, continuing to gain momentum. Currently, there are no reference factors for a top. Remember that a significant drop must be preceded by high-level consolidation; the longer the consolidation, the deeper the drop. As long as it doesn't consolidate, the bullish outlook remains. From the 1-hour chart perspective, after a significant rise yesterday, there was a slight pullback to around 78600, continuing to push towards 80000 and then back to around 78600 before continuing to rise. In the short term, focus on support around 80000 while the important defense line is near 78600!
ETH: From a weekly perspective, the weekly lows mentioned in mid-October are continuously rising, with clear support from the 90-day moving average below, suggesting a bottoming formation. The defense line below is around 2400, and the target above is set at 3000 points. The strength of this rally has exceeded expectations. The weekly candlestick closed with a large bullish body, with an increase of over 31%, rising more than 767 points. With a substantial influx of off-market funds, the selling pressure above appears minimal. The short-term target has been adjusted to around 3350, and a breakout will look towards around 3530. On the 4-hour chart, the overall trend remains upward, with occasional sharp pullbacks, especially during operations. It is advisable to be conservative and manage positions carefully. Currently, significant upward spikes on the 4-hour chart indicate a slight trend towards correction, with a key support level to watch below at around 3100 while being cautious of spikes down to about 3060.
Altcoins: Whether to exit should be based primarily on Bitcoin signals. As long as Bitcoin continues to rise, there is no need to worry about altcoins. Additionally, be prepared for the dilution of profits that the first day of a market downturn may bring. This is what I refer to as the fish tail position; currently, just hold your coins and wait for the rise.
In last Saturday's research report, it was emphasized that the Old Horse series has turned upward again, highlighting the rebound in MASK, which has increased by over 30% in the last three days; (Follow the public account: Feige Yian Coin, Weibo: Dawn of Breakthrough - Feige)
The oracle sector discussed last Saturday showed strength, with a focus on TRB, which doubled in maximum increase yesterday;
The cryptocurrency market is highly volatile, caution is needed when entering the market, this is a personal opinion and not advice, for sharing purposes only.
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