The current situation of Bitcoin is that, although the rate of decline has slowed, the overall trend is still not fully stable, and the price is still slowly going down.
The good news is that market sentiment is no longer as fearful, and selling pressure has decreased.
However, we still need to remain vigilant; if Bitcoin suddenly experiences a significant drop, altcoins may also be affected.
Of course, this is just a personal opinion, and investment decisions should be made independently.
I anticipate that Bitcoin might oscillate between 94,000 and 98,000. From the current market sentiment, it seems that people's panic has eased.
If Bitcoin falls below 90,000, it could be a good opportunity to enter the market.
Generally speaking, sharp declines in a bull market last about 7 to 11 days, and it seems that the time window is almost here.
The opportunities in this bull market may not be as abundant as before. If we view it as a decentralized entrepreneurial platform, the current opportunities are actually not inferior to the bull market of 2021. The only difference is that the difficulty of choice has increased; it is no longer the case that during a bull market, simply buying any altcoin will yield dozens of times the return. Now, if you choose the wrong altcoin, you might miss the opportunity of the entire bull market.
Taking Bitcoin as an example: In the last round, Bitcoin increased by 20 times, and in the current round, it has already increased by 7 times.
If we project based on the previous round's growth, Bitcoin could potentially break $300,000. However, as the market cap continues to grow, the rate of increase for Bitcoin may gradually slow down.
Currently, the market can only hope for the cryptocurrency sphere to follow a slow bull model similar to that of the U.S. stock market. To achieve this, the U.S. stock market needs to maintain stability.
However, currently the valuation of the U.S. stock market is at historical highs, and to keep the stock market stable, the AI bubble needs to continue expanding.
Therefore, the performance in the AI field is crucial.
As an accelerationist, I believe that the pace of AI progress will surpass the rate of bubble expansion, ultimately driving the entire market forward.
BTC: Resistance Range 96824 - 98402, Support Range 90525 - 92442 ETH: Resistance Range 3439 - 3525, Support Range 3181 - 3256
Technical Analysis Highlights:
BTC: In a downward oscillation phase, it is recommended to adopt a high short strategy. ETH: Showing strong performance in the short term, there are bullish opportunities.
Operational Suggestions:
Set reasonable stop-losses and flexibly adjust operational strategies according to market changes.
Everyone should seize the opportunity of the pullback before Christmas!
In the past five years, there is usually a strong rebound after Christmas, and there have been big market trends four times.
If there is a pullback in the next few days, it is a good time to enter the market. If you don’t seize the opportunity at this time, you may really miss the opportunity to make a lot of money!
The currencies to watch include: BTC, ETH, SOL, ZEN, XRP, BGB, RSR, SUI, NEAR, LPT, COW, DOGE.
In the coming month, how to seize the market trend and reverse losses?
Pay attention to market fluctuations and sharp declines: The current market is frequently volatile, especially friends dealing in spot trading need to pay attention to each sharp drop. If Bitcoin experiences a rapid decline, check the hourly chart; if the drop is too fast, it is likely that the market makers are creating panic. At this time, there is no need to panic; you can gradually accumulate positions to avoid entering all at once.
Buy altcoins at low prices: Currently, many altcoins have returned to their previous launch ranges, close to the bottom, with limited further downside potential. At this time, seize the opportunity to buy low, and patiently wait for funds to flow out of Bitcoin. Once the funds shift, altcoins will experience a rebound, and may even double in a single day.
Be patient and build positions gradually: Patience is crucial in the current market. When the market experiences a sharp decline or a spike down, it is a good opportunity to increase positions. Use the “follow the market makers” strategy to gradually build positions in batches, avoiding impulsive entry all at once.
Step in and out gradually, avoid entering all at once: Remember the golden rule of trading: “Buy small on small dips, buy large on large dips, don’t buy on no dips; sell small on small rises, sell large on large rises, don’t sell on no rises.” Stick to not chasing highs or rises, and through gradual operations, transform yourself from “chives” to “sickle.”
As long as you prepare well, stay calm, and patiently wait for the right opportunity, you can go with the flow and achieve the transformation from loss to profit.
APT strong support point: The current price is close to strong support, and the next key support point is about 8 US dollars.
NEIRO entry timing and future trend: It is not recommended to enter NEIRO at present. MEME projects may enter a long period of adjustment and consolidation after experiencing the boom.
DOGE trend: DOGE needs a certain amount of adjustment space, it is recommended to wait patiently.
PEPE trend: PEPE still needs to be repaired for a while, and it is not the right time to enter the market now.
Will there be a big drop on Christmas (Bloody Christmas)? : It has fallen a lot in the short term. If it continues to fall sharply on Christmas, market sentiment will be very negative. However, in the currency circle, everything is possible. If ETH does not fall below $2,800, it is not a big problem. Spot can be seized as an opportunity, but please be careful and pay attention to risks.
Can MEME FI return to 0.085? : It cannot return to 0.085 in the short term, and the future trend needs further observation.
XVG trend: XVG is a typical zombie coin type, which is easy to be manipulated and has drastic price fluctuations. Special attention should be paid to security risks.
Will the dog dealer continue to fall in order to clear the long leverage?
I think that the continued decline of the altcoin is actually more painful for the dog dealer. I remember that there is a word called "blood exchange" when playing League of Legends, which means you hit me once, I hit you once, and see who hurts more.
If you don't dare to "exchange blood", the other party will always suppress you and bully you. Only by "exchanging blood" with each other once and making the other party feel pain, will they dare not force you easily again.
Of course, "blood exchange" is painful, but the key is to make the other party hurt more.
Only when they really feel pain, the other party will willingly retreat and be suppressed by you.
For the dog dealer and the bulls, this "blood exchange" is inevitable.
In this way, those investors who open long orders can feel the pain and no longer open positions easily.
I am also ready to "exchange blood" with the dog dealer-as long as they dare to smash the market, I dare to take over at a low level, betting that there will be a new market reversal in the future.
DOGE started to rebound after breaking through the first support level, and today we need to pay attention to the position of 0.313.
As long as the price stays above this level, the 1-hour level is expected to continue to rebound, with targets and resistance levels to focus on 0.324, 0.335, and around 0.349.
If the 1-hour level falls below 0.313 today, it would mean that the current rebound may have ended, and the market may turn bearish.
The lower support levels to watch are 0.305, 0.296, and 0.288.
The popularity of ORDI triggered a market boom, and then some people began to hype $SATS, and everyone was scrambling for the leader; $GOAT also began to attract attention, the Eastern market advocated $ACT, and the West turned its attention to $FARTCOIN.
With the popularity of $VIRTUAL, more AI projects have emerged.
As a result, retail investors have been exhausted and physically and mentally exhausted in this rising tide.
PVP games have gone from the initial local hype to large-scale development.
If you want to simplify operations, you must focus on the top projects that really have potential, are most forward-looking and strategic.
Five signs that the market is approaching its peak:
Sustained high funding rates (up to 2-3 months or longer): If funding rates remain high for a long time, it usually means that the market is overcrowded and the risk of adjustment increases.
Too much unrealized profits: When a large number of investors have not yet realized their book profits, the potential risk of the market increases, which may lead to drastic adjustments.
MVRV ratio exceeds 5: If MVRV (market value to real value ratio) exceeds 5, it usually indicates that the market is overheated and the risk of bubble is increasing.
Bitcoin market share drops to 40% or less: Bitcoin's dominance is declining, which may indicate that funds are flowing to other areas, suggesting that the market is less concentrated and less stable.
Cryptocurrency becomes the focus of public discussion: When cryptocurrency becomes a hot topic of widespread discussion, it may mean that market sentiment is too optimistic and you need to be alert to possible risks.
ADA Price Forecast: Look for opportunities for rebound
Currently, the price of Cardano (ADA) is around $0.89, having witnessed a significant 7% drop in the last 24 hours, and is currently hovering above the key support level of $0.87.
The ability to sustain above this support level will be critical to price action in the short term and determine whether bullish sentiment remains.
If the market rebounds, ADA may break through the $1.00 mark it previously fell from.
Once this resistance turns into support, Cardano could see a resurgence, pushing the price further towards $1.23 and attracting more investor attention.
However, ADA may face downward pressure if the price fails to hold the $0.87 support.
A break below this support could push the price further towards $0.77, thus weakening the bullish sentiment and the market could shift to a bearish pattern.
This wave of decline has caused a lot of panic, and many people's previous profits have also been trapped by this correction.
I had a dream yesterday, and I felt that the counterattack may have come.
It is expected that there will be a big positive line next. Give it three days, and the result will be clear in three days.
For altcoins, the downward space is basically limited, and it is time to consider bottom-fishing.
If you are afraid that the price will continue to fall, you can consider placing an order at an appropriate 10 points below and wait for the market to stabilize before entering the market.
Today, we need to pay attention to the key price level of 0.318. Only if the price stabilizes above this level can a rebound at the 1-hour level possibly occur.
The resistance levels/target ranges above are around 0.333, 0.348, and 0.365.
If the rebound fails to break through 0.318, it indicates that the rebound strength is weak, and it may continue to pull back. Pay attention to the support levels below, which are around 0.307, 0.296, and 0.281.
The current price is close to several key support areas. If these levels are not broken, the market situation remains stable. However, once it breaks below, the risk will increase sharply.
When approaching these key points, consider small position contract operations, but if the price breaks below the support level, you must immediately stop loss and avoid any complacency.
Primary Support:
The most important support level is the lower edge of the high-level rising parallel channel, around 95,000. If this support level is broken, it will break the upward trend of the channel, potentially transforming into a flat channel or indicating that the market has peaked and is beginning to enter a downward trend.
Secondary Support:
The lower support of the daily Bollinger Band is roughly at 93,500. Looking back at the rise from 52,000 to 108,000, the Bollinger Band has successfully bounced back twice and maintained support (Ethereum has shown similar performance). Therefore, this time the retest of the lower Bollinger Band is also very critical; once broken, protective measures must be taken quickly.
Final Support:
The last key support level is near the ice line at 88,000, which is also point D in the butterfly pattern. Once this support is broken, it could trigger a significant correction, so high vigilance is required.
SOL price fell again after a wave of rebounds, and is now close to the upper support level of the 155-185 range, and has rebounded at the hourly level.
This support level comes from the high point area in May and July.
Subsequent forecast:
Short-term rebound: SOL is expected to rebound to near the daily MA30 in the short term, but it is unlikely to have a V-shaped reversal.
Second decline: After the rebound, there may be a daily level retracement, and then the market may enter a shock consolidation and build a relay platform.
When $ORDI became the focus, people immediately began to hype up $SATS, trying to seize the 'leading' position; $GOAT became popular, the Eastern market is optimistic about $ACT, while the Western side praises $FARTCOIN; after $VIRTUAL became famous, more AI-related projects followed.
As a result, retail investors were exhausted by these following trends and ultimately became tattered 'whales'.
The competition in PVP games has evolved from an initial local conspiracy into a large-scale battle today. If one seeks a simple and effective investment strategy, the only choice is to focus more on those top, visionary individuals and projects.
Currently, it can be seen that Ethereum is in a critical support area. From the initial resistance that failed to break through, to multiple tests after the breakthrough that did not fall below support, it shows strong support.
At the same time, the amplitude of fluctuations after the breakthrough is gradually increasing, indicating that market activity is on the rise.
Once the price rebounds again, it will mean that there is a possibility for a larger increase in the market.
The market is still active. With foreign investment nearing the end of the year and the close of a new year, the current adjustment mainly involves cleaning up altcoins, contracts, and leverage, while the spot market is not significantly affected, so it is advisable to wait patiently.
Is it possible to buy at the bottom now? If your position is not heavy, you might consider buying in batches. As for inscriptions, it is not recommended to participate heavily in the short term, or you can consider light position operations.
Despite the pressure that the Federal Reserve's hawkish statements have put on the market in the short term, the overall bull market trend remains unchanged.
The fundamentals of cryptocurrencies have not undergone substantial changes, and the market is still in a loose monetary policy environment.
Over time, liquidity and market sentiment are expected to gradually recover.
At the same time, with the rise of emerging fields such as artificial intelligence technology, Web3, and crypto finance, the cryptocurrency market may welcome new growth drivers. These innovative technologies and projects are expected to become catalysts for the next bull market, injecting new vitality into the market.
The decline of US stocks triggered a sharp decline in Bitcoin, and altcoins also fell sharply. On-chain assets also experienced a plunge, but unlike altcoins, on-chain assets have at least experienced a surge, while altcoins cannot keep up with the upward trend and the decline is more severe. Overall, this pullback is a normal adjustment before Christmas and is not expected to cause too much trouble.
Koma stabilized around 0.1 under the stimulus of yesterday's positive news, and large funds entered last night to provide support for it. A new rising cycle has begun, and the previous rising stage from 0 to 0.1 has ended, and now it will usher in a stage from 0.1 to 1.
For the two old AI projects $AICell and $JOI on BNB Chain, despite some declines, they are still optimistic about their future performance. After all, they are the only AI projects on BNB Chain.
The two new AI projects on Solana are Kra (combining AI and DeFi) and Animoca (clearly labeled AI). Although these two projects still have a lot of room for improvement, their prospects are worth paying attention to.
The dogs in Axie Infinity did not perform well, and the expected construction progress did not seem to be achieved.
There was a dog project that performed well last night. Although the specific information cannot be disclosed, I believe that the friends who participated have benefited from it.