Bitcoin reached a historic high of $106,500 on Monday, buoyed by news that Trump hinted at a possible Bitcoin strategic reserve similar to the Strategic Petroleum Reserve, leading to heightened market sentiment. Ethereum rose by 1.2%, priced at $3,952.
Market data analysts suggest that the next target to watch is $110,000, as investors await a correction that has yet to arrive. After Bitcoin broke its previous high, there is still potential for further increases. Whether funds can flow back into the market when Wall Street opens tonight may determine if a new wave of increases is on the horizon.
Are there still fans wanting to short at this time?
Little Meow thinks that the current practice of predicting the top and constantly shorting is unwise and suggests going with the flow. Keep an eye on the support levels of $100,000 and $96,000; if these two positions are broken, the bullish trend will come to an end, so it remains a bullish market for now.
If you want to short, it is recommended to wait for the daily line to break the aforementioned support level, and consider opening a short position when EMA10 crosses below EMA20. Also, watch for RSI divergence and weakening upward momentum. While it’s difficult to accurately predict the top, Bitcoin is currently in the late stage of a small bull market; it's advisable to continue holding or gradually reduce positions for profit, and pay attention to the resistance levels of $108,000 and $122,000.
So does Sol still have a chance to rebound?
From the K-line trend, $SOL a typical ascending flag has formed, usually appearing after a significant rise for consolidation. A similar trend was observed in Bitcoin from April to October, although Bitcoin's price fluctuations were more pronounced. Sol rising from 120 to over 260, with a 20% pullback is normal. If you prefer a more stable approach, you can wait for a right-side breakout confirmation of the descending trend line before entering; that would be safer.
Today I saw two new projects on Twitter, and various V tokens are being promoted.
First one: SHIRO
This project went live on December 3, with a total token supply of 1,000,000,000,000,000 (1P), and it is currently fully circulating. On the day of launch, the price surged to 0.0000005, then fell back to 0.00000021, and has now doubled to 0.00000042, with a market cap of $400 million. Unlike other meme projects that gained attention by surging to $100 million in the short term, it started with a market cap of $1 billion.
Currently, the annualized interest rates in Uni's V2 and V3 pools are relatively high, especially V3 which is at 260%, but the TVL is low, with V2 at 2.9 million and V3 only at 10,000. The holding addresses are quite dispersed, totaling 17,000 people, with the largest address holding less than 1%. Transactions for the top 20 addresses are all conducted through Uni's Universal Router, likely indicating batch operations by project parties. Although it has only been listed on small exchanges so far, I believe there is a great chance for it to be listed on larger exchanges.
The second is KIP
The coin was highly volatile when it was first listed. Despite a significant pullback, it did not weaken and continued to rise, reaching new highs, demonstrating strong potential. It is currently in the arc adjustment phase at the top; after breaking the arc shape, the market may just be beginning. Support levels are at 0.0303 and 0.026, while resistance is at 0.0364, indicating a need for a pullback. If support holds, entry is possible. After breaking the resistance level, target points are 0.0431 and 0.0459. If it sets a new high and retraces to the top of the arc without breaking it, it could rise to 0.06-0.08.
Reasons for optimism: The KIP protocol, backed by cutting-edge technology, strategic partnerships, and government endorsement, has become a popular investment project in AI, Web3, and other fields, receiving support from the Argentine government.
Lastly, let's take a look at the coin listing situation on Binance:
VANA was delayed in launching today; I won’t say much about it since it has already been discussed in previous articles!
Recently, Binance has been offering wave after wave of benefits to BNB holders:
Launched HODLer airdrop projects Simon's Cat (CAT) and Pudgy Penguins (PENGU). BNB holders have truly benefited this time, with a 300% Launchpool yield plus frequent HODLer airdrops, making it a bumper year for everyone!
Airdrop details
Snapshot time: December 9, 2024, 08:00 to December 13, 07:59 (UTC+8).
Participation conditions: Airdrop distribution is available for those using BNB to subscribe to fixed or flexible products on the earning platform.
Listing time:
$CAT: December 17, 17:00 (UTC+8).
$PENGU: December 17, 22:00 (UTC+8).
Despite MEME coins like PNUT and ACT being affected by copyright disputes, CAT, with its strong IP value and as the only MEME coin recently listed on Binance, still has further upside potential.
The MEME market remains vibrant, and CAT may reach new highs, worth continued attention!
For operations in altcoins, refer to:
That's all for today's article. We are currently in a bull market with a lot of activity; we share passwords every day. If you're unsure how to navigate a bull market, feel free to follow us for insights on bull market spot strategies, which we can share for free.