Bitcoin has reached $98,000, just a step away from $100,000. Since the U.S. elections, Bitcoin has accumulated a rise of over 40%.
The more Bitcoin rises, the more people talk about a major correction. It is important to note: some 'aggressive' overseas institutions have given Bitcoin a target price as high as $125,000. The head of asset research at Standard Chartered openly stated that Bitcoin could reach $200,000 by the end of 2025.
Today! Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), plans to resign on January 20, 2025. His ambitious agenda during his term has faced strong opposition from Wall Street and the cryptocurrency industry. Afterward, the SEC will be led by either Republican Mark Uyeda or Hester Peirce as interim chair, and the new SEC chairman may adopt a more friendly regulatory approach to cryptocurrencies.
Possible market movements ahead:
From BTC's perspective, the current daily RSI indicator is oversold, the daily MACD shows no significant divergence, and the moving average slope is very high;
There is a need for adjustment, which can be horizontal or vertical, or a combination of both.
However, it should be noted that Bitcoin is now close to $100,000 per coin, and a 10% fluctuation is $10,000, while in the crypto market, a 10% fluctuation can only be considered a horizontal adjustment.
What I’ve been emphasizing during this time is that once a trend is formed, it is difficult to change easily; this is also the reason why I haven’t done any hedging or shorting. Shorting in a trend is like trying to catch the top, constantly buying the dip on the left side, which is extremely low in cost-effectiveness, so I choose to desensitize in the short term. The trend being broken also needs to happen step by step, so there’s no rush.
According to historical patterns, when Bitcoin rises to a certain level and then consolidates, that is the happiest moment in the crypto market.
1. Smooth transition, fund transfer, Bitcoin horizontal adjustment (10%), funds move to the altcoin market, with large market caps leading, then water flows in stages. Currently, we can see that the long-standing number two, $ETH, and the stagnant $BNB have shown slight signs of movement.
2. Bitcoin spikes by 20%, then rises 10%, consolidates, or steadily rises, while altcoins start violently.
3. In a bull market, pay attention to find several different threads of altcoins; sell the ones that rise the most, and buy the ones that fall the most, rather than operating in reverse.
Today, let's talk about ACT+ and review FTT:
ACT has a very popular coin in the circle, this type of coin has a large amplitude of rise and fall, which fits my style of trading. Analyzing it, 30F - T0 has gone through a period of consolidation and decline, with a central range in a running pattern, no divergence, and the end has grown out of nine non-similar central ranges, currently still operating within the central range. 5F, there is no divergence in the current level's decline, and there is no divergence in the higher level's decline, with no signs of bullish emergence and no buying points. Trading suggestion: Watch and wait. For this type of hot new coin, either wait for a thorough drop or wait for bullish emergence, the most taboo is left-side flying knives, which can easily lead to losses.
Last week, I recommended FTT around 2.05, which perfectly reached the target point! This coin has repeatedly emphasized holding and waiting for an explosion. Good news leads to speculation, and speculation leads to explosive growth!
Of course, FTT has at least 40% profit for those who positioned themselves early, but some friends just don’t listen, cutting themselves, panicking at the slightest drop! What’s going on?!
Memes fall, thousands of coins rise.
This title is also the answer to the question I've been thinking about for the past few days. I thought about it, and although it might offend some people, I’ll just post it. (If you're not satisfied, you can curse, I can't argue with you anyway.)
MEME is on fire! A meme circulating in the market: Why is the pie rising like this? Is it going to Binance? Although it’s just a meme, it reflects the current state of the market, seemingly MEME has become the only way to create wealth in the crypto world.
Bitcoin consolidated for 8 months after peaking in March, frustrating countless friends. The entire crypto market is like a stagnant pool, with altcoins trapping batch after batch of brave dip-buying warriors. Bitcoin brought a sovereign-free currency to counter the infinite issuance of fiat money, Ethereum brought smart contracts, and even the EOS back then was under the banner of blockchain 3.0.
What has MEME brought? On-chain PVP? Daily 10x golden dogs, 100x big golden dogs? And when we build outside the circle, we can proudly tell outsiders: 'Come on, let's fight dogs, there's a chance to get rich every day!' Does that sound a bit silly?
On the surface, it seems MEME has overthrown VC, just like GME exploded Wall Street's big short. The victory of retail investors! It sounds stirring, but if there’s no capital pushing behind it, can there still be retail investors’ victories?
The extreme PVP behind it is the game of existing funds and self-amusement. If this so-called 'MEME super cycle' is real, then perhaps in the next round, or maybe even in this round, the only thing left in the crypto market will be Bitcoin. At that time, Bitcoin will likely have little to do with the crypto market, it may sink into being just another stock, perhaps it will continue to fulfill its great mission against fiat currency, but it will be just Bitcoin. The MEME super cycle will ultimately complete its mission, which is to drive out bad money, revolutionizing the entire crypto market.
Value coins will still tell stories, while MEME is direct like a casino, directly betting money, directly gambling on size, it's too direct, tearing off the disguise directly and losing the aesthetic. Funds may temporarily abandon the pursuit of aesthetics for the thrill, but when the climax recedes, things with beauty, connotation, and stories are the long-term plan.
A few questions:
1. How difficult is it to get into on-chain PVP? Is the entry point for the crypto market here?
2. If the trend is what the chain is heading towards, is it just about fighting dogs on the chain?
3. Is everyone really making money from MEME? Or just a small group using survivor bias's riches stories to stir everyone’s emotions? Capital is not evil; capital merely seeks profit. Technically, it has been confirmed that Bitcoin has initiated a new round of upward trend.
Perhaps many builders in the blockchain have been silently working and innovating in the corners; their voices are too small and temporarily drowned out by the dazzling riches of MEME.
Is there still a future for the crypto market? Trends rise, the pie expands, memes fall, and thousands of coins rise!
Newbies should pay more attention! I previously discussed this round of market!
The things you need to pay attention to are simply four points:
First, position management.
Second, your mindset.
Third, choose a suggestion style that suits you.
Fourth, look less at motivational quotes and review more, be responsible for your own account!
BTC is the cornerstone of everything, SOL and ETH are its younger brothers! No matter what, take good care of the boss, and the younger brothers can be happy.
