Doing PVP while doing homework is too difficult. As of 3 AM Beijing time, the data shows that yesterday's judgment was still correct. The FOMO sentiment among US investors has begun to decline. The significant rise when the market opened on Tuesday is largely due to five stocks like $MSTR announcing the purchase of #BTC, leading to a wave of sentiment. However, from the current perspective, this wave of sentiment has turned into an exit of liquidity.
Even though the stage increase exceeded $92,000, without new FOMO sentiment, BTC's price is still hovering around $90,000. Therefore, the current sentiment has indeed detached from the election, and even the announcement from MSTR hasn't kept BTC strong for too long. Of course, it is still not recommended to short, even if the sentiment has receded, as the expected trend has not changed and could still trigger at any time.
Today many friends are asking why #Bitcoin is rising but ALT (altcoins) are not following. Is the altcoin season over? From a trend perspective, I still believe the altcoin season will exist; it’s just a matter of when it arrives and how long it lasts. Today's rise in BTC is likely driven by MSTR, so the buying power is still concentrated on BTC and BTC-related US stocks or ETFs, with no overflow of funds, which naturally provides little help to ALT.
From today's data on BTC itself, the trading volume actually began to decline after the US stock market opened, which is a relatively rare situation. Generally, the trading volume on Mondays is higher than on weekends, but today it turned out that Monday's volume was lower than the weekend. This indicates that the increase in BTC price over the weekend did trigger a higher turnover, but by Monday, the intention to trade seems to be decreasing. The main trading volume is still concentrated among short-term profit investors, especially those short-term investors above $80,000 who are currently the main force in trading.
The latest support level is still testing between $87,000 and $91,000. After all, this part is still mainly short-term investors. Currently, because the price is relatively stable, there has not been any panic behavior from investors, but whether this position can become a new bottom is still uncertain and will require a long period of testing.
The three gaps mentioned earlier, $77,000, $78,000, and $82,500. The URPD gap does not necessarily need the price to drop to be filled; if the price breaks new highs, there is still a probability of filling it when recalculated. However, historically, URPD has never failed to fill gaps, which is something that really needs attention.
Data has been updated, link: https://docs.google.com/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit?usp=sharing
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