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First of all, the upcoming trend of Bitcoin really feels somewhat familiar.
Do you think he is replicating the trend of the previous halving cycle? Bitcoin usually starts gaining momentum in November, then corrects by 12% in December to wash out weak hands. Then, at the beginning of January, after Wall Street returns from the holiday, the main players fully come back, and Bitcoin just flies up.
And this January, with Trump taking office, there is hope for the announcement of Bitcoin as a strategic reserve. There is a high probability that Bitcoin will make a significant move before this. Because the last bull market was also like this, with a huge surge in mid-January, a correction after the news was fully released, and then a new high in March.
This March coincidentally features the Ethereum Prague upgrade, which acts as a market engine. This situation really reminds me of four years ago.
From the K-line perspective, various coins have corrected well. If you have some spare cash, consider adding to your positions at lower prices. Also, keep an eye out; the market maker may create a false breakdown with a single spike to hunt for stop-losses. This kind of trick is quite common.
Currently, this correction conforms to the short-term selling rules, as short-term holders typically take profits once their unrealized gains reach a psychological expectation of 25%. This indicator has proven to be reliable time and again.
However, everyone should pay attention to the extent of the correction. Generally, it corrects to around zero, which means short-term holders' profits and losses are balanced, not making or losing money. Once it drops below this point, there will be significant resistance because people are willing to sell when they are making profits, but generally reluctant to cut losses when in the red, so there is strong support here.
Based on this indicator, Bitcoin might drop to around 88,000, so this point still needs to be guarded against. But have you noticed? Small coins are already showing some bottom-fishing strength, not dropping much, and even AAVE, which everyone was advised to ambush these days, is nearing this year's previous high of 390. I advised everyone to take profits at this level since it has already risen 30% in the past few days; it’s really hard to hold on.
Because it’s currently a bull market, buying pressure is actually much stronger. Look at the Bitcoin reserves on exchanges; they are now accelerating their decline, indicating that a large number of coins are being withdrawn by whales, leading to another historical low in the Bitcoin reserves on exchanges. These whales really seem to be emptying out the exchanges.
Currently, on-chain data is still very healthy, just like at the end of the last cycle in late 2020. Large holders are still in the accumulation phase. When the coin price rises a bit more, say to 130,000 or 150,000, large holders should gradually transfer coins from their cold wallets to exchanges to sell. So everyone, don’t panic; the bull market has only been going on for two months, and there will still be one or two waves of primary surges.
Now that we've talked about the overall market, let’s take a look at the situation of various altcoins.
First of all, Uni is about to welcome major positive news. Its official website has announced that it will launch its own Layer 2 mainnet early next year, which means Uni will have faster transaction speeds, lower fees, and higher throughput—definitely a fantastic piece of news.
Long-term potential.
This does make some sense because this cycle is driven by institutional entry. Therefore, the on-chain US debt and the virtualization of RWA real assets are absolutely important tracks worth accumulating on dips.
We started ambushing this coin when it was just a few cents, back when its mainnet hadn’t even launched. Now it has risen six times at its peak. I think those who are interested can consider positioning some during this major correction.
I have held my OM position for two months. Although most of the yield has been eaten away by contract funding rates, I still have a considerable unrealized profit. Last week, I bottom-fished during the crash in the crypto market and entered ETH at the lowest point of 3100. I also capitalized on the rebound, selling all 700 Ethereum at over 3500. I exited Pepe near 0.2, both at the peak of the rebound. Now it has corrected again, so can we buy back at a lower price?
By the way, it seems that Musk might be in trouble.
Recently, the decline in US stocks and the crypto market is partly due to Powell, but there are also many factors related to Musk. Last week, you know the US government almost shut down, right? The reason is that old Ma uses Twitter to govern, directly vetoing the government budget with public opinion, nearly causing a government shutdown.
Some officials even claim that Musk has become the shadow president. There are even discussions about supporting him for the speaker role. I think those saying this may not genuinely support Musk but are trying to bring him down. Currently, he is under military investigation, but I don't think anything serious will come of it.
But with Musk continually giving advice, I really feel a bit anxious for him.
Then there is also the latest news about the Ethereum upgrade.
In the last meeting that concluded last week, developers hinted that the fifth testnet would launch in early January. This is likely the last testnet before the Prague upgrade, so I expect the upgrade to take place around March, and the market will start heating up two months prior, in January.
Moreover, the Trump family’s WLFI project also bottom-fished ETH during last weekend’s crash. I believe this correction is your last chance to get on board because it will rise to 8000 in three months. You must seize this opportunity! In a bull market, we must not miss any chance to ensure continuous profits. If you desire to flip your investment, to make a big profit, or to break even, then please closely follow Brother Du’s steps to lay out for the upcoming bull market! Brother Du will do his utmost to help you realize your dream of flipping your investment in the bull market, making your investment journey easy and enjoyable!
