24/11/10 BTC price breaks 80000, ETH rises to over 3200, the first target for the fourth quarter has been achieved.
Happy weekend! This is a memorable day as Bitcoin breaks 80000, perfectly validating the gentleman's thoughts and logic. Since the downward spike to 55555 in early September, I have continuously reminded to be bullish. This rebound has the best chance of breaking the previous high. The first target of 80000 for the fourth quarter has been achieved, and the next target is our long-standing goal in the crypto community: 100000.
Buy where no one cares, buy when the crowd cheers. The gentleman's consistent style reminds everyone to increase their positions at key low levels. Once the price surges, it is not advisable to FOMO chase the rise; instead, consider taking profits by reducing positions by 30%. If it breaks below 77800 again, reduce another 30%. Keep the core position intact and do not touch it; just add more when it drops. A surge is the profit we want to take, not a reason for you to chase the rise.
Bitcoin
Since rebounding from 58946, the increase has been 35%. If it rises more than 40% from around 55555, congratulations to friends who have followed this wave of the market. We have previously shared our trading strategy and market insights multiple times. It can be said that since 2023, the general sequence has been BTC—ETH—strong rebounds in altcoins—MEME tokens—sharp declines. Each round, everyone can judge what stage it is in. Bitcoin has entered an acceleration phase, and I personally suggest starting to gradually reduce positions and wait for a better price during the pullback. There is still a possibility of a short-term surge before a pullback begins.
Next week, there will be a lot of economic data releases and speeches, so pay attention to market fluctuations. The Federal Reserve is a major variable, and it may slow down the pace of interest rate cuts. US interest rates might soar, and previously, a significant probability of a rate cut in December was predicted. However, the latest consensus on Wall Street is that in the 'Trump 2.0 era', the Federal Reserve may slow down the pace of interest rate cuts. Analysts believe that due to Trump's promised tariff increases and tax cuts, inflationary pressures may rise, and the Federal Reserve is expected to act more cautiously, potentially 'pausing interest rate hikes' in December.
Support:
Pressure:
Ethereum
The highest rebound was to 3236 before facing downward pressure, which is also close to the previous pressure around 3240. Further up are 3355 and 3410. The BTC market cap ratio showed an engulfing pattern this week. The Crypto Total Market Cap broke out of the weekly downward channel. Altcoins, led by Ethereum, are rebounding well, but in the short term, it will continue to surge. Don't look for 4000 when it rises and 1000 when it falls.
The 4-hour MACD is diverging again; pay attention to whether the MACD will show a top divergence later, which could provide an opportunity for a pullback and adding positions.
Support:
Pressure;
