In recent days, Bitcoin has dragged the entire market down sharply, like a ruthless meat grinder. As early as December 17, I reminded everyone that the market might need to adjust, and technical indicators were showing signs of decline, advising everyone not to open contracts. Friends who listened should have avoided this sharp decline. So, how will the market move next? ('Black Swan' liquidations exceeding 100 million! Bitcoin plunges! Are altcoins slaughtering retail investors? Bottom fishing! How to end the washout trend?) Watching more will help you understand.
The recent sharp decline has many reasons. Powell's remarks, Bitcoin's massive sell-off aiming for a drop of 14,000 points, Ethereum's plummet of 1,000 points, and many altcoins dropping over 30% are countless. The entire crypto circle is immersed in a shouting atmosphere! But along with it, there are also 'opportunities' (hundreds of billions in liquidations! A turning point arrives late at night! At the moment of Bitcoin's crash, the on-chain wealth effect skyrockets! Is Monky the key to turning things around?) After that, Bitcoin experienced a pullback at the strong resistance point of 92,000, rebounding 5,000 points in a straight line. Currently, it has risen to around 97,000. Over the weekend, there will still be fluctuations, so I advise everyone not to act rashly. However, if you think the price is right, buying some spot and holding it is also a good choice.
It's the weekend again, and the Wall Street big shots have wrapped up for the week. It's time to take a two-day break and celebrate a little. From the K-line perspective, the 1-hour level shows an upward trend (momentum is insufficient and about to consolidate), the 4-hour level is up, the 12-hour level is down, and the daily level is down, with intraday resistance at 100,000 and support at 94,000 USD.
Looking back at this bull market cycle, there have been 4 waves of major upward movements.
The first wave was from January to April 2023, lasting for 4 months and completely emerging from the bear market cycle.
The second wave was from mid-October 2023 to mid-March 2024, lasting for 5 months, initiating a small bull market. A few people caught a lot of airdrops and opportunities to make dozens or even hundreds of times their investments in BRC20 and inscriptions. In February and March, there was also a wave of Depin and AI meme trends on Sol, which was the first wave of this cycle with profitable effects.
The third wave, from mid-October 2024 to now, may continue until February to April next year, with a focus on new opportunities in various sectors.
Recently, I've talked with many friends, and many have incurred losses in the past few months, mainly for three reasons:
1. BTC was shorted all the way, leading to liquidations or severe resistance.
2. Full positions in worthless altcoins, multiple switches resulted in losses, and frequent stop-losses.
3. Heavy positions in meme coins, especially some new meme coins, resulting in several waves of 70% losses.
Warren Buffett once said that if you are not willing to hold a stock for ten years, you shouldn't hold it for even a day. If a coin does not have a long-term holding logic, participating in short-term speculation carries a high probability of being cut. For long-term investments, these coins are far inferior to Bitcoin and Ethereum, as well as the leading coins in various sectors. Therefore, some worthless altcoins have little investment and trading value, and it's best to avoid them in the long term; otherwise, there is a risk of missing out on a bull market.
Lastly, I have to say, ZEN is really impressive.
First, congratulations to friends who made profits! Yesterday I opened a position, entering at 17.6, which has now risen to a maximum of 30.14.
A steady gain of 71 points.
In fact, Grayscale has only two favorites, currently fully nurturing Zen. I believe after Zen, Grayscale will buy LPT, which will eventually also start buying like Zen. For those who missed Zen, there are two choices: the bold can continue to chase Zen, while the cautious can position themselves in LPT. LPT also has 50 times potential.
That's all for today. During the bull market phase, if you really can't navigate the crypto space on your own, don't force yourself.
