I mentioned yesterday that Thursday is Thanksgiving. The US stock market will be closed for a day. Friday will also have an early close. But I... was wrong...
Today's Bitcoin volatility is 5.8%
Bitcoin's lowest point yesterday was 91864, the highest point was 97250, with a fluctuation of 5386, and a volatility of 5.8%. Bitcoin is currently at 95517, with the '100,000 barrier' just around the corner! As a goal in the minds of many users, it has become a certainty, but it is clear that Bitcoin has shown a pattern of increasing volume on declines and decreasing volume on increases. I expect that this wave will rise again to 98000, marking the mid-term top for Bitcoin.
Short-term resistance: 98000, short-term support: 92800. This rise in Bitcoin is mostly due to automatic market maker buying, and new funds have shown signs of exhaustion. Pay more attention to escaping peaks after rebounds, and those holding Bitcoin should sell a portion and wait for a lower entry!
Today, Ethereum surged by 13%
Ethereum reached its peak at 3688 in the early morning, with a daily increase of 13.28%. It was quite close to my prediction of 3660 yesterday. Importantly, I made that prediction when Ethereum was at 3350, so the 9% increase at the peak proves that my line-reading logic is correct at this stage. Ethereum's current price is 3619, with minor resistance at 3675 and strong resistance at 3840!
Short-term resistance: 3675 3840, short-term support: 3503. The next target above Ethereum is 3850, which has strong resistance. If it reaches that point and shows a significant pullback, it could be a short-term topping signal. Be cautious of significant pullbacks in altcoins, and try to reduce positions when at high levels!
The trend of ETH is undoubtedly the focus of the market. Congratulations to those on the ride, (it's gone crazy! Bitcoin has skyrocketed by 6000 points! ENS surged by 363%, ZEN surged by 160%! Double coins, seize the wealth of the bull market!)
Despite the essential differences compared to 2021, such as the Federal Reserve not injecting liquidity and limited liquidity, Bitcoin is likely to maintain FOMO sentiment, Ethereum continues to rise, and an altcoin bull market seems imminent. These projects in various tracks will stand out.
1. MEME Track:
Currently, I am focusing on the new meme projects that have launched on major exchanges like Binance. Based on historical experience, they will continue to be speculated upon, and market makers need to leverage market speculation to make profits. Of course, older meme projects also have opportunities, but specific position allocation should be determined by each individual. Don't forget that a brilliant new meme was born at the end of 2023, and during the peak of Bitcoin at 73,700, a brilliant new meme also debuted on Binance's spot market. The next brilliant meme may continue to emerge on major exchanges.
2. Public Chain Track:
In every round of the main bull market, public chains have never fallen off the table. SOL, INJ, TIA, SUI, SEI, and many others. Especially in the last couple of years, new public chain projects that have launched on major exchanges like Binance, such as OMNI, have seen a considerable rise recently. As for older public chains, opportunities can be focused on SOL, INJ, ADA, etc.
3. AI Track:
That wave at the beginning of 2023, crypto market projects related to AI saw a significant rise. Then from the end of 2023 to the beginning of 2024, crypto projects related to AI like FET, etc., even those slightly related to AI like WLD, ARKM, etc., all experienced decent increases. Recently, AI-related projects have become popular; I don't need to elaborate further.
4. L2 Track
Since the related projects of this track landed on major exchanges like Binance, there has really only been one wave of speculation during the ETH narrative upgrade and then that wave from late 2023 to early 2024. At that time, ARB, OP, etc., saw significant increases, which you all should remember. Moreover, ETH’s surge was also necessary, so this track should focus on strong narratives and leading projects that can make moves.
The market has new tracks and narratives, which need to be closely monitored. For other tracks like infrastructure, if you have extra capital, you can select leading projects for allocation. I have summarized this based on the situation of newly listed projects on Binance, CB, and the macroeconomic situation in the US, as well as historical bull market trading feedback.