Bitcoin rises and falls again, and hits 68,000! Blood-sucking market, BTC rises, blood-sucking altcoins, altcoins fall; BTC falls, altcoins follow suit!
The retracement is completed, continue upward
Yesterday, the price of Bitcoin fell back below 67,000, and reached the support level of 66,300 given yesterday. This dog dealer also knows how to pick numbers! The U.S. stock market slowly recovered after opening and began to fall after the early morning. After the closing of the U.S. stock market, it rebounded again and is currently at 68,000 U.S. dollars. The copycats are not so lucky. Some fell and some died, and they never came back. However, doge led the rise today, and the track rotated again!
Today's market analysis: From the K-line, BTC is in an upward trend at the one-hour level, and has just entered an upward trend at the 4-hour level. The 12-hour and daily levels are both in an upward trend. If there is no unexpected decline today, it will rise in the next few days. The intraday pressure level is 69,600 US dollars, and the support level is 66,600 US dollars.
Is Bitcoin on a major uptrend or a major crash?
According to the wave theory, Bitcoin is currently in the fifth wave of the bull market: the rise from 9.7 to 9.27 is the first sub-wave of the fifth wave, the callback from 9.27 to 10.10 is the second sub-wave, and the rise from 10.10 is the third sub-wave. Generally speaking, the third sub-wave will be stronger than the first sub-wave, and the third sub-wave will most likely break through the previous high of 73777. What worries me now is that the Bitcoin holdings are rising too fast, and the leverage ratio rising too fast may be unfavorable to the smooth rise of the market. So while being optimistic about the future market, we must also do a good job of risk management.
Just look at it, the market is not as big as you think, nor as small as you think! There is so much liquidity in the currency circle, including your personal currency trading, you only have so many U in your hand. If you are fully invested and want to buy other coins, then you have to sell other valuable coins! So we see that BTC has risen, but many altcoins have fallen, because when Bitcoin rises, it will also suck the blood of altcoins! This is normal!
Besides, the market sentiment is not high. Even if the altcoins do not rise, everyone is still fomo! According to the two waves of the market in 2023, Bitcoin and altcoins are in the same frequency. Here I think the altcoins are waiting for Bitcoin to break through, and they need a clearer signal.
If the value of the coins you hold keeps falling, there are several possibilities:
1. Dog dealers have been selling goods, just like Vitalik Buterin’s praise of Ethereum before, while the Ethereum Foundation is selling goods!! Then Ethereum keeps falling!
2. The dog dealer is washing the market and absorbing funds. In the process of absorbing funds, he will continue to wash the market, with only one purpose to wash you off the car! And then burst! ! The previously very popular OG PEOPLE and so on!
3. The coin you bought is a rubbish one in terms of the track you chose. It’s hard to have a second spring after the craze has passed! In the end, it’s completely unsalable and is removed from the exchange!
4. Other reasons!!!
So when will the altcoins skyrocket?
After Bitcoin sucks blood, basically when BTC breaks through a new high and goes sideways, the concept of cottage will slowly start to be hyped, and then the sector will rotate! At present, BTC has rushed to such a high position, and the subsequent cottage outbreak is inevitable!
After the results of the US election are released on December 16, Bitcoin will have a new chance to reach new highs. I would not be surprised to see a 10-fold increase in the share prices of copycat stocks next year.
When is the best time to buy a copycat at the bottom?
You can wait for BTC to pull back, and strike hard when the altcoin pulls back! In the current situation, you can also double-stock your favorite altcoin! Spot often waits for opportunities, accumulates strength, and goes steady and far! The old saying: "Don't be impatient when playing with coins, slow is fast!"
The current hot spots are that the election coins are trending well, see the picture for details:
Doge Takes Off
At present, it has broken through the important resistance level of 0.132. At the same time, it has driven Shib Floki 1mbabygoge to take off;
People
I said yesterday that although people is not my cup of tea, it does not mean that this coin is not good and will not rise. If a friend asks, follow up. It is OK to see a rebound. If there are several consecutive big positive lines in 15 minutes, a pullback is an opportunity;
Wif
This is also the Musk series, the strongest Sol series meme coin, and the third largest meme after doge and shib;
Inscription Plate Sats
There is also something interesting at a small level! Bat pattern analysis shows 0.0000036
There is never a shortage of opportunities to make money in our cryptocurrency circle!
Cutting, liquidation, and zeroing out cannot defeat the real warriors in the cryptocurrency circle, but missing out can. Missing out will infinitely magnify the fomo emotion, make you lose your mind, appear various trading taboos, chase highs at the top of the mountain, frequently change positions, so that the transaction is constantly deformed, and finally only one sentence is left: Damn! ! Things are in the hands of people, and what is important is people, not things. Since we are in the cryptocurrency circle to make money, then all our actions should be practiced for the result of making money.
Reasonable position allocation, advantageous entry points, and a good mentality are the best solutions to deal with callbacks and fluctuations. Don't understand? Come to me. If the market returns to the top of the trend, then the cottage will have many opportunities to explode~
