Bitcoin experienced a significant pullback last night, retreating 6,000 points overnight, dropping below 93k.
In the past 24 hours, the total liquidation across the network was $520 million, affecting over 160,000 people!
Under the fluctuating decline of Bitcoin, according to Coinglass data, the total liquidation amount across the cryptocurrency network in the past 24 hours reached $529 million, with long positions liquidated at $386 million and short positions liquidated at $142 million, affecting over 162,000 people.
Which potential coins will help us turn around next?
DOGE
Dogecoin is currently priced at $0.40, down 4% in the past 24 hours. The continuous fluctuations in the price of Dogecoin are due to the price movements of Bitcoin. In the past two days, this king of cryptocurrency has slightly declined, stabilizing at $98,000 as of the time of publication.
However, due to the close relationship with Tesla CEO Elon Musk, Doge is destined to receive a lot of attention. Now Musk is ready to take over the DOGE department, which hints at a projected price surge for Doge, and if the market supports it, the rise could last for a long time.
PEPE
PEPE has increased by 93.5% in the past 14 days and formed a symmetrical triangle, indicating a potential continuation or reversal. Consolidation above the Point of Control (PoC) suggests strong buyer interest. As it approaches the apex of the triangle, expectations for a breakout are increasing, and a closing price above that point could lead to a 30% price increase.
Traders should look for confirmed breaks and re-tests of the upper boundary of the triangle to support a bullish outlook. The value of PEPE tokens has also seen a golden cross, with the 50-day moving average surpassing the 200-day moving average, which is a strong bullish signal. The increase in trading volume indicates strong momentum and buyer interest.
ARB
Arbitrum has performed quite strongly recently. The current price is $0.893, with a 24-hour increase of 6.76%, and a market capitalization of $3.69 billion. Its price is already about 20.63% above its 200-day simple moving average, indicating strong upward momentum and bullish market sentiment.
In the past 30 days, ARB has had 18 days of upward trading, accounting for 60% of total trading days. This indicates that its market performance has been consistently strong, with relatively high liquidity and strong trading activity.
It is expected that in November, ARB's price will fluctuate between $0.868065 and $3.00, with a potential return on investment of up to 235.35%. Entering December, it is expected that its price will fluctuate between $2.94 and $3.88, and if the price rises to the predicted high point, it could bring a potential return of 333.54%.
The bull market does not rely on accuracy, but on ambiguity; it does not rely on operation, but on choice; why do most people lose money in a bull market?
Because the sentiment of the bull market is FOMO, it is dazzling like a riot of flowers; there are daily myths of getting rich. In such a restless environment, most people find it hard to maintain their original intentions.
In a bull market, what we need more is to subtract and let go! Will coins like FIL, EOS, and ARB have a main upward wave? Possibly! But my choice is to take a wave and run.
Put most of the energy into capturing the main line and a small part of the energy into eating the sub-line. Even if we are wrong, we will not miss the overall BETA returns of the bull market, but if we are right, we will get the clearing script.
