Cryptocurrency Market Phase Summary ------ November 25, 2024 / Chen Guilin
1. The Bitcoin market share indicator is an effective indicator for observing altcoin seasons. It has been mentioned before that the MA60 moving average is very important. The daily K lines on the 23rd and 24th tested this level and both closed with small bodies;
2. The market is gradually entering the second phase → Criticizing Bitcoin.
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1. Bitcoin may be in the 4th wave of the blue line on the 12-hour chart;
2. For a 12-hour level correction, the upward trend on levels below 12 hours needs to be broken. First, insert a small needle, then a big needle;
3. Although the current adjustment looks relatively mild, this is just the beginning. If the adjustment starts, the range will be between 78500 → 91500, and a stop at above 86500 will be considered strong;
4. The above analysis is a prediction of the adjustment but has not been confirmed. Strategies should be executed upon confirmation of the adjustment, not preemptively based on predictions.
1. Bitcoin cannot be called a pullback right now; it can only be called a phase of transition from an upward trend to a consolidation trend, and it is at a smaller level;
2. The movements of altcoins here will be differentiated and independent; they do not necessarily have to follow Bitcoin, but the altcoin market at this time is not easy to capture because there are too many coins, and you do not know which one will be pumped today or tomorrow;
3. Therefore, the strategy here is to have previously positioned. If there is a rally, gradually take profits or set protective stop-losses; if you have not positioned before, be cautious about chasing high;
4. Since the overall trend of Bitcoin is still upward, it is a good bullish strategy to position in some favored 'main tasks' that have undergone significant corrections;
5. If you are feeling bold, you can look for some clearly top-structured altcoins to short, but be careful; it must be a structure above the 4H timeframe, otherwise, the stability is too poor. At this stage, the possibility of forming a 4-12H intermediate structure similar to a top is very high;
6. In this market, no one can give you a definitive answer, so either trust your own judgment or blindly follow some highly knowledgeable bloggers, place your bets, and accept the outcomes. Do not act like a giant baby or a whiner; aside from showcasing your lack of skill, there are no benefits to that;
7. Remember the three elements of getting rich quickly: Early, Heavy Investment, Hold On.
