From the K-line trend of Bitcoin, the 1-hour level shows an upward trend; the 4-hour level has rebounded, but the rebound strength is weak; looking at the 12-hour level, it is in a downward state; the daily level is also in a downward trend. Overall, the intraday resistance level is at $98,500, and the support level is at $94,000.
Actually, what I want to say is that BTC hasn't really dropped much. The so-called crash only exists in altcoins, and when you only hold BTC, you'll find that the fluctuations aren't that big!
When the overall market is unstable, it is recommended not to touch highly volatile altcoins, and also to avoid high-leverage contracts. If you want to participate, play with Ethereum, SOL, BNB, etc. When the market starts again, we can go with the trend to catch the rebound of altcoins. At this stage, focus on defense, survive first, preserve your principal, and the next second and third waves of the market will be related to you!
The exact target for Bitcoin's retracement depends on various events and macroeconomic data:
(1) If today's U.S. November CPI reaches or exceeds expectations (70% probability), the second wave of BTC retracement will be completed through consolidation between 90K-100K. (2) If the CPI unexpectedly rises, and core CPI reaches 0.4% (30% probability), it will significantly increase the Fed's likelihood of not cutting rates in December.
Tonight's CPI data release is undoubtedly the focus of the market, and many friends have already begun to speculate on how Bitcoin will react. Personally, I am still quite optimistic, as the logic remains the same as last Friday's non-farm report. Currently, inflation is expected to rise, and even if the inflation data rises slightly, it will not affect the Fed's established path of rate cuts in December.
Looking at the data for Bitcoin, many investors who entered before the elections are withdrawing, and the turnover of positions is quite large. Although there are signs of panic, the support has not broken, and the price around $95,000 is still quite stable.
Next, we need to focus on the Federal Reserve's interest rate meeting on the 19th.
Recently, altcoins have really performed like Bitcoin with massive leverage; when Bitcoin drops 1%, altcoins can plummet.
The last time Bitcoin dropped from $100,000 to $90,000, altcoins didn't drop much and were not correlated. This time, there is a correlation, which is always unexpected. From the current perspective, almost all altcoins have formed trapped positions, except for a few strong coins like PEPE.
This is obviously not good, but fortunately, from the declines over the past two days, we can see which ones will still rise and which are genuinely weak.
This round of decline can determine the strength of your holdings in altcoins:
Very strong: 20% retracement, like SUI, ADA.
Strong: 30% retracement, like RAY.
Neutral: 50% retracement, like ALGO.
Weak: 90% retracement, like TRX, CORE, RSR.
The extent of the retracement directly reflects the market's confidence in the tokens and their ability to resist declines, which is worth noting.
Listing several relatively strong cryptocurrencies:
BTC ETH SOL BNB XRP SUI APT SEI TURBO IO KAIA ACT OMNI ALT BB LUMIA BABYDOGE PEPE (ranking is not in order, all are on Binance)
Market speculation is changing, and we need to have a keen sense for the market. We also need to keep up with changes; if the market stabilizes, these may continue to explode. When the market is down, recharge your faith. Those with bullets can pick up some chips. You can use a strategy of buying in batches: buy heavily during big drops, lightly during small drops, and don't buy when it doesn't drop.
Musk is wildly bullish on PEPE.
Additionally, yesterday Musk's Grok directly supported meme image generation, and his X is full of Pepe images, which clearly shows his enthusiasm for memes. In this bull market, memes drive the trend, so when memes are pulled back, it's essential to choose to build positions in your favorite memes.
Among the AI meme tracks, Su Bai is most optimistic about GOAT and ACT.
Recently launched strong coins: neiro, babydoge, pnut belong to new strong coins with high odds, while DOGE is suitable for heavy long-term holding, manage it yourself.
Grasp the future wealth code! Layout these 5 tokens with 100 times growth potential!
1. PEPE
Current market cap is $9.53 billion, and the 24-hour trading volume is $8.20 billion.
PEPE is the leader of the entire MEME bull market and has a very good storyline. It outperforms Bitcoin, and although it has broken previous highs, doubling again is not a big issue. Looking at the trend, the entry point is around 0.21-0.22.
2. ONDO
Current market cap is $2.42 billion, and the 24-hour trading volume is $834 million.
RWA has a good ecosystem and has already been implemented, with the background of BlackRock. During a crash, it is definitely a good option.
3. BGB
Current market cap is $4.36 billion, and the 24-hour trading volume is $428 million.
The price has risen by 22.98% in the past 24 hours, and 88.54% in the past 7 days.
BGB is the token of Bitget exchange, aimed at supporting decentralized and anonymous trading. It provides strong encryption protection and fast trading.
4. OM
Market cap is $3.88 billion, and the 24-hour trading volume is $302 million.
The price has risen by 9.42% in the past 24 hours and 4.66% in the past 7 days.
OM is a blockchain focused on security, dedicated to the tokenization of real-world assets that comply with regulatory requirements. It offers a permissionless platform suitable for institutions and developers.
5. TON
Coins that can be bottom-fished during a significant drop, such as LTC and TON, which are relatively stable mainstream coins, can at least aim for short-term profits of 10-30 points. TON's subsequent development should be good, so prepare accordingly; today, Ouy announced an investment of $5 million.
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