Overnight, BTC's counterattack at the 5-day line drove a general rise in the altcoin sector, but after being blocked, it closed with a doji. This morning, Bitcoin (BTC) continued to reverse, briefly breaking below 93k, dragging the 5-day line to turn downward. Grayscale loves to hit you with a surprise at critical moments.
In the last 24 hours, 160,000 people have been liquidated in the cryptocurrency market, with a total liquidation amount of 518 million USD.
This has caused many friends to start worrying, fearing that the bull market is coming to an end! Indeed, once you get too excited, the market will splash cold water on you. Once you increase your position, the market will drop, leaving you standing at a loss.
MicroStrategy increases its position, is it madness or faith?
In the above chart, MicroStrategy has spent about 12 billion USD since November, greatly increasing its average holding cost to 56,658.9 USD, showing a strategy of rapidly building positions on the eve of a bull market. Its funding mainly comes from convertible bond financing. (In this bull market, only MicroStrategy and BlackRock are diamond hands; they will definitely be the biggest winners. What are you afraid of?)
In the above chart, Bitcoin's ETF continues to see inflows, and the trend still appears to be upward. Besides, the interest rate cut cycle is still in play; not to mention, there is another rate cut on the 18th of next month. Now, for spot trading, it’s all about selecting good quality varieties and holding on—just two words, don’t worry too much. Moreover, this bull market may not experience the sharp declines typical of past bull markets; you can gradually add to your position during corrections (of course, don’t be stubborn and act like a bear; the profits are limited, and the risks of being liquidated are high, which is truly unnecessary).
So if you want to bottom fish, this is currently the last opportunity to board the big bull market, and the adjustment has reached yesterday's expectations. After the subsequent adjustments, it will continue to stretch.
Today's daily BTC market analysis shows that from the K-line perspective, the 1-hour level will enter an upward trend, the 4-hour level is in a downtrend, the 12-hour level is in a downtrend, and the daily level is in a downtrend. Intraday support is at 92000-93000, with resistance at 95000-96000.
Ethereum really resists downturns.
Just look at today's popular list; although Bitcoin couldn't hold up, ETH's 'green' is eye-catching. From last night (Bitcoin hits 100,000, Ethereum's next stop 3900! How long can the altcoin craze last? Musk's 'DOGE', Dogecoin soars to 0.5 USD!), it broke through the strong resistance at 3500.
ETH's 1-hour and 4-hour levels remain healthy, with the daily level above healthy levels. Short-term expectations for a rebound, with intraday support at 3300-3350 and resistance at 3500-3600.
Altcoins not following the drop means the main force is supporting the bottom.
Currently, the altcoin season is still in its early stages, and the window for layout is still open. The full onset of the altcoin season is just waiting for a surge in ETH. Everyone should pay attention to the keywords I mentioned: it is currently the early stage of the altcoin season. The key is to maintain a stable mindset and wait for the signal of the 'altcoin season' explosion! Those old coins that haven’t moved in a hundred years are opportunities to exit every time they rise; the so-called dead cat bounce is nothing more than that! The ETH ETF has already started net inflows, and when ETH surges, ETF funds will FOMO in, and the profit-taking funds from BTC, meme players, and even A-share players will all turn to altcoins. Brothers investing in US stocks can also savor the logic I mentioned; as long as there’s no major shift in US monetary policy, the Russell 2000 will rise.
As for how to filter out quality and valuable altcoins, refer back to past articles (Bitcoin consolidates at 98K! Old coins soar and fly, new players go all in at high positions, old players break even! How to layout after the altcoin sector rises?). Remember that any project’s speculation cannot do without traffic and funding.
Lastly, just to mention casually, there are still people who refer to the Golden Dog as MEME!
Many who don't engage with MEME need to first understand: Golden Dog ≠ MEME. Buying the right Golden Dog requires some luck. Buying the right MEME requires understanding and good judgment; otherwise, you won't be able to hold on, let alone build. Without being able to hold and build, you won’t achieve great results. Whether you are a newcomer or an experienced trader, what everyone lacks is not one or two victories, but the formation of a compound interest method!
If anyone has questions, feel free to message me. Today's answers have been released (November 26th cryptocurrency Q&A, review: ORDI, ETH, SATS, SOL, G, ACT, BAN, SAGA, TRU...)