November 21st Old Investors Discuss Coins

Market Review and Analysis

BTC has reached a new historical high again, but the performance of the second coin yesterday was not a rebound market. Altcoins experienced a broad decline yesterday, so the decision to liquidate was still wise, at least avoiding a 10% risk, which is equivalent to earning 10%. It depends on personal interpretation. Currently, the market trend only sees BTC flying solo, and there isn’t a good narrative in the market. The rise of the MEME sector is just driven by hot topics. Everyone must pay attention to controlling risks during this phase. For the current stage, we only need to consider one point: take it step by step, calmly observe the market. Whether we will enter an altcoin season or whether the second coin will lead a rebound in altcoins depends on the overall performance of the second coin. It doesn't matter if it happens or not; the main thing is whether you can wait for a decline after grasping the phase's bottom and then enter at a high point. For example, we exited yesterday, and even if we re-enter now, it can still be considered a profit. A coin that started with 100 can now be bought with 110. Returning to the starting point is equivalent to earning 10%. The same principle applies.

Today's Highlights

BTC's market is at a new high again, and it’s not far from the 96-98 range. Of course, 96-98 is just a predicted high point; whether it’s accurate is difficult to say based on BTC's current trend. The one-sided capital flight in BTC cannot drive the overall market trend. Many fans say that you should first buy BTC and then wait for the second coin to rebound. This year, if you bought BTC and the second coin, one earned and one lost, so how to operate is still very important. This year, you can earn by shorting altcoins and the second coin, but you can't short BTC. This year, no matter how you go long on BTC, as long as you have positions, you will earn. However, if you go long on the second coin and altcoins, you could be in trouble. Is this a bull market?

ETH's analysis highlights that it has reached the defensive point at the 3000 level. Yesterday, a small bullish candle was formed on the daily chart, while the four-hour chart has already shown bearish signals. According to the current trend, the possibility of breaking below 3000 is increasing. If the second coin breaks below 3000, the expected target will be in the range of 2760-2850. This position was discussed in yesterday's video; you can check the video replay.