Today's market analysis
Looking back at yesterday's market, BTC's daytime market was also a roller coaster ride, rising first and then falling. After the opening of the U.S. stock market, it plunged again and fell below 62,700. Then the U.S. stock market rose with a big positive line, many star technology stocks rose, and Bitcoin was also pulled back. The rise in the second half of the night was gratifying, and it has now stood above 63,800 US dollars.
Let's talk about A-shares. Yesterday, the central bank issued a series of favorable policies, including lowering the reserve requirement ratio, interest rates, and existing mortgage rates, and pioneered monetary tools to support the stock market. Stimulated by this news, Chinese assets ushered in "Super Tuesday", and the overnight surge continued. The Nasdaq China Dragon Index rose by more than 9%, the largest single-day increase since 2022. Bilibili rose by more than 17%, JD.com rose by more than 13%, Xpeng Motors, Weibo, Weilai, Ideal, and Pinduoduo rose by more than 11%, and the Shanghai Composite Index rose by more than 100 points, an increase of more than 4%. The once-in-a-decade A-share bull market may be about to begin.
Back to today's market analysis, $BTC is in an upward trend at the one-hour level (but the momentum seems to be a little insufficient and is about to enter a sideways or downward trend), the 4-hour level is in an upward trend, the 12-hour level is pulling back from the downward trend, the daily level is in an upward trend (not strong enough, as long as it falls sharply for one day, it will enter a downward trend), the intraday pressure level is 66,000, and the support level is 62,400 US dollars
The biggest copycat season starts in October!
Historical data shows that Bitcoin’s market value rises an average of 23% in October and 46% in November.
This may just be the beginning
In addition to the positive statistics, industry news also looks promising.
The following signs indicate that the peak season for altcoin mining is approaching:
Kamala Harris Supports Cryptocurrency
The Federal Reserve cuts interest rates by 50 basis points
CZ was finally released from prison on September 29
FTX has initiated a multi-billion dollar repatriation and may return to the market
We have seen a shift from BTC to large-cap tokens
Soon, this massive liquidity shift will also affect small-cap stocks
The copycat season is coming and the answer is MEME?
The interest rate cut cycle has begun. The market sentiment for the copycat market is relatively relaxed, and the real copycat season is often only about two months. Now most of the copycats are in the process of bottoming out. Some strong ones have broken through the bottom range and started to stretch. The bottoming time period is also coming to an end, and the waiting time will not be long.
The copycats have now started to turn around and recover. In my opinion, the answer to this bull market cycle is: full circulation meme, impressive unique narrative, hot traffic gathering, strong market makers + big exchanges
Many MEME coins have basically bottomed out, but they are still divided into strong and weak ones. PEPE, WIF, FLOKI, BOME, and MEME coins are recommended. These coins have also experienced several deep washes in the past six months, and the bottom is relatively clear at this stage. As long as the big cake continues to rise, these coins can be bought in batches at low prices. I believe they will set new highs, and there is at least 5 times of room.
The bandwagon effect of this sector is obvious. It takes a long-term investment of time and energy to grasp the trend and hot spots in the first place. Otherwise, when everyone in the group starts to FOMO, it is often the time to treat it as liquidity. Friends can pay more attention to the popular coins on the chain. There are indeed myths of making a fortune by a hundred times or a thousand times, but from the moment you enter the market, you must also be mentally prepared to return to zero. The bigger the waves, the more expensive the fish. To make money when the market is good, no matter how many times you want to make, you must make a profit. Only then can you have a better mentality for the profit structure, otherwise your mentality will collapse when the callback occurs, especially when the MEME fluctuates too much.
