The advisor discusses hot topics:
Bitcoin is really crazy right now, not only is the price skyrocketing, but even institutional behaviors are becoming increasingly frantic. It can almost be said that everyone has recognized Bitcoin as the universal currency of the future.
Yesterday, Tether issued another 1 billion USDT on the Ethereum chain, which clearly indicates a large capital inflow. This is also one of the main reasons for Bitcoin's price surge from last night to this morning.
Watching Bitcoin break its historical high, the market's greed sentiment surged, and the fear and greed index still maintained a high level of 83. The advisor observed that everyone seems to be betting on Bitcoin reaching 150K.
In the bear market of the past one to two years, the advisor also mentioned in video analysis that Bitcoin would reach 100K, and at that time, everyone thought it was an unattainable goal. Now it is about to be realized.
If the bulls make a little more effort, we might see this target achieved tonight. However, the advisor believes that although the opportunity is large, there is a high probability of a short-term correction, which may give everyone a fantasy of breaking through 100K.
Although the market seems bullish now, we need to stay alert. The market has been moving for a while, and people's sentiment is becoming increasingly optimistic, retail investors are starting to become overly greedy, which significantly increases the risk of a correction.
History has repeatedly proven that when everyone thinks the market is about to take off, it is the riskiest moment. There may be volatility risks in the short term, but in the long run, the market still looks bullish. Bitcoin is expected to reach 150K, but this process may be very tortuous and not smooth.
As for Trump's return, the atmosphere is increasingly reminiscent of a significant turning point for cryptocurrency. The Trump administration's attitude toward cryptocurrency will become more open, especially under increasing financial pressure. America's debt problem may lead Trump to take some 'extraordinary measures,' and cryptocurrency may become part of that.
With this potential policy change, the market may welcome a new frenzy, but we must also be wary of the arrival of a bear market. If a bear market begins, the consequences could be unimaginable—like sliding without brakes.
So in this crazy market, we not only need to pay attention to price fluctuations but also be wary of possible policy changes and prepare a response plan. If a bear market really occurs, there may be more bloody moments. Don't forget that during a bear market, everyone thinks cryptocurrency is a bubble, and only when the bear market arrives do they realize what the real bubble is.
Currently, Bitcoin has risen to nearly 98K, and 100K is also a psychological barrier for Bitcoin. After breaking through, market sentiment may explode, especially for altcoins. After Bitcoin breaks its historical high, the FOMO sentiment in the market will push up capital inflow, and the opportunity for altcoins to explode will come, but the euphoria of altcoins will not continue during Bitcoin's correction.
The advisor recalled that after Bitcoin broke its historical high in March this year, altcoins truly exploded. Now the market needs to break through these psychological barriers to release liquidity. Therefore, only when Bitcoin breaks 100K will the explosion of altcoins come.
Yesterday, I also mentioned Ethereum, so regarding the questions everyone has been asking about Ethereum and altcoins, the advisor still firmly believes that it will lead the season of altcoins, just like Nvidia led the US stock market to new highs. The market will always have liquidity rotation, with funds constantly flowing to seek new opportunities. So don't worry, the explosion of altcoins is just a matter of time.
The advisor looks at the trend:
Bitcoin has continuously refreshed its historical highs and is currently showing a one-way upward trend. It is technically difficult to determine the resistance above, and it is impossible to clearly judge where the high point is. Therefore, the current situation requires attention to the timing of high point formation.
Although the RSI indicator is in the overbought zone, the auxiliary indicators are being ignored by market sentiment. It is still recommended to follow the trend of moving averages and operate in the upward trend.
What can be confirmed now is that entering the market at the current high point is very risky. A better strategy is to wait for a correction to enter, and take profit when a range is formed at the high point. Therefore, new positions are not recommended to enter at the current position.
Resistance level reference:
First resistance level: 101950
Second resistance level: 98800
Support level reference:
First support level: 94800
Second support level: 94000
Today's suggestion:
The current market is experiencing a one-sided rise, ignoring the technical analysis of declines. Therefore, although a short position strategy is reasonable in the short term, the timing of entry is very dangerous. Whether going long or short, caution is advised. If choosing to short, a short stop-loss must be set and strictly enforced.
11.21 Advisor's segment pre-buried:
Long entry reference: 95450 light position long. If it corrects to around 94000-94800, go long directly. Target: 96000-98000-98800
Short entry reference: not referenced
