In the past week, the 47th week of 2024, it was a week where BTC skyrocketed.
On Monday (11.18) it opened at 90k and closed at 92k. On Tuesday it closed at 92k. On Wednesday it closed at 94.7k. On Thursday it closed at 96.6k. On Friday it closed at 98.6k. On Saturday it reached a maximum of 99.6k, closing at 98.4k. On Sunday (11.24) it retraced to the 5-day line at 97.3k, resting briefly, currently pulling back to 98k.
Are you afraid of heights?
Please cherish the horizontal movement of Bitcoin, this stage is the best time in the crypto world.
Bitcoin
From the perspective of indicators, moving averages, and K-line structure, Bitcoin is currently gently consolidating near the 100k mark; passing the opportunity to the altcoin market.
When will the market fall?
Let me present a scenario: Bitcoin needs to first make a big spike, then move up to make a second high, to have the possibility of a turning adjustment. During Bitcoin's spike and second high process, some altcoins will explode. I don’t know what the principle is, but this way of moving is etched in my memory.
A few days ago, I posted that the higher Bitcoin pulls, the less I fear its adjustments, why?
1 is because the higher Bitcoin pulls, the higher my safety cushion point is, talking about trading after breaking away from the cost of holding is just nonsense;
2 is based on the triangle trend strategy, the higher the trend breaks, the stronger the force needed to break it, in a bullish trend, the bears also need to gather their strength gradually, which gives me enough time to escape.
Ethereum
Ethereum has not been discussed for many days, because there is no need to talk about it at all. Previously, I mentioned that Ethereum is divided into two boxes. Breaking through 2800-3000 means transitioning from the lower box to the upper box, making 2800-3000 the bottom of the upper box instead of the top of the lower box. The pressure support has been converted.
The first target remains unchanged at the previous high of 4000.
In this phase, I will adopt a gradual profit-taking strategy for altcoins. There are countless ways to take profits, and if altcoins significantly outperform Bitcoin, it means excess profits for me; selling at a high will always profit, everything is the best arrangement.
At the same time, laying out some long-term attractive altcoins that have already corrected or temporarily have not taken off is also something to do at this stage.
Layout the main line, take profits from side lines, hold BETA firmly, be cautious with ALPHA.
Recently, many people have been asking me about this coin, I estimate that a large part of it is because they chased high and got stuck, not knowing how to operate; another part may feel that the current price is very attractive but are unsure whether to enter (fearing that the MEME narrative has ended), so let me share my judgment on this coin.
One, is the overall bull market in the crypto world about to end or just beginning?
I judge that we are now in the early stages of a bull market, the crypto world has just experienced a Bitcoin explosive rise; now is the stage where funds are flowing from Bitcoin to altcoins;
Two, has the overall MEME ended?
I believe that coins like $ACT $NEIRO $PNUT are no longer suitable to be called memecoins; I have given them a new name, 'On-chain New Assets', which differentiates them from past meme coins like DOGE, SHIB, PEPE, etc.; their characteristics include long duration, mass wealth creation, and leading market trends, with the potential to become the engine of a bull market;
Three, ACT single coin analysis?
On-chain new assets can be roughly divided into three tracks: artworks, zoos, AIMEME, and ACT is the only coin in the AIMEME track that has been listed on BN spot. Compared to the other two tracks, I believe the storytelling, sustainability, and ceiling of the AIMEME track are higher, after all, AI is currently the mainstream in the global finance and technology circles.
Four, #ACT Technical Analysis
The K-line of a cryptocurrency's primary market, the upper secondary market needs to be ignored; because the source of participating funds and their scale are different, the composition of the participants in trading is also different. We only need to focus on the K-line after ACT on BN.
0.382---0.618 a little below is my accumulation range, I personally adopt a combination of left and right accumulation methods. Going down is the left side, and after hitting the bottom, buying after the bottom structure emerges is the right side.
Be careful not to assume that the black line or 0.618 is the bottom, it is possible that this is indeed the bottom, or the black line may not hold. Focus on strategy rather than levels, build positions that you can hold. #PNUT similarly.
Another point worth noting is that at levels below 3 hours, ACT has already broken away from the downward moving average's pressure, increasing the likelihood of forming a bottom here; it is often said that after such a meme coin experiences a explosive rise, it needs to stay silent for six months or a few months before starting the second wave of the market. Those who say this often cannot tell the difference between bulls and bears, nor can they recognize levels.
