It almost fell below the 90,000 mark, will it continue to pull back now?
After reading the Federal Reserve's monetary policy summary, here are a few key points: Most people still think a 25 basis point cut is appropriate. If inflation continues to rise, the pace of rate cuts may pause, which is also why Bitcoin fell to 90.8K yesterday morning. If the unemployment rate rises or the economy slows, the pace of rate cuts may accelerate. Overall, whether to cut rates by 25 basis points in December still has a lot of suspense.
The bull market is still on, don't worry. So, will there be a continued pullback? Remember to like, follow, and save this. The integer barrier of 90,000 has been temporarily defended, and as of now, the market at least shows a trend of counterattack. Last night at 11 PM, the last economic data of this month, the PCE price index was released, and the result met expectations, which is also good news for the crypto circle.
Overall, the current pullback is just a healthy correction of the market, mainly due to profit-taking. The upward trend of the bull market has not been broken. Moreover, now is a good time to focus on ETH and to lay low on altcoins.
Alright, back to today's BTC market analysis: From the K-line chart, the 1-hour level is weak and may decline slightly; the 4-hour level shows an upward trend; the 12-hour level is about to enter an upward phase; the daily level has not completely exited the downward trend. The intraday resistance is $98,400, and the support level is $94,000. Today is Thanksgiving, and the US stock market is closed, so there is no need to pay special attention to the fluctuations in the US stock market.
ETH has started to recover, and altcoins are nearly ready to rise as well.
The rise of ETH can drive the tokens of the entire ecosystem, including L2, DeFi, staking, etc. Many leading coins have already started to take off...
Apart from ETH, some established public chains and mainstream coins are also performing well. The rise of ETH is a sign of a broad market rally, this is a true bull market!
Many people used to say, 'There is no more altcoin season,' but the altcoin season index has reached 57, not far from the confirmed altcoin season (75).
According to CMC data, there are currently over 2.4M altcoins on the market. As long as the top 50 altcoins outperform BTC in a quarter, it can be considered an altcoin season.
PS: If 75% of the top 50 tokens in the previous season (90 days) outperform BTC, it can be considered an altcoin season. The rankings of the top 50 do not include stablecoins (like Tether, DAI) and asset-backed tokens (like WBTC, stETH, cLINK, etc.).
When the altcoin season index exceeds 75, be cautious of the market's downward risk. When the market's greed sentiment is too high, it often indicates that risks are about to come...
Regarding MEME, the coins mentioned earlier are very typical.
For example, URO was starting with a 6, now it starts with a 2; RIF was 0.1, now it's about 0.06. It’s clear that the market fluctuations are extremely fierce. If you saw it at that time and weren't misled by others, congratulations on successfully avoiding the risk of a halving.
The market for MEME is like this: at the beginning, it seems correct in every way, and the rising price attracts people to enter. But once the market peaks, many people feel 'I bought too late' or 'I bought the wrong one,' and start to incur losses.
In this cycle, the hardest part is to make the right moves during the pullback after the climax.
However, in a bull market, as long as you're not too greedy, anyone can make money.
The key to truly widening the wealth gap lies in who can hold onto the money they've earned. If you fail to take profits, the money you've made is just superficial wealth. The core of a bull market is actually escaping the major peaks; escaping the peak is the hardest part.
I am unfortunately good at escaping tops. According to my calculations, the peak cycle is probably in the second half of next year. A little more than half a year of celebration is enough for everyone to make a good profit.
For the upcoming strategic direction of operations, I suggest the following:
① Position allocation
First of all, the core assets of the bull market should still be primarily BTC, ETH, and SOL. It is recommended to allocate about 50-70% of positions in these coins.
You can pick 1-2 of them, open 2-3 times leverage for long-term positions, as this is the bottom asset in a bull market.
Especially BTC, after experiencing this bull market, it will definitely become a 'digital gold' similar to gold, with the price gradually increasing, just like gold and US stocks.
② Altcoin operations
For altcoins, it’s mainly about trading on the right side, closely following market hotspots, and it is recommended to hold 30-50% of your position. For example, if you notice ETH's strong performance recently, focus on related projects in the ETH ecosystem, such as Layer 2 expansion or staking coins.
Make a heavy position, earn 20-30%, and then withdraw, leaving 1/3 or half of the position with a stop-loss at the original price, maintaining a large pattern, so you can ensure profit in a bull market.
Wherever a sector starts to move, coins that haven't risen much can be followed in, waiting for them to rally together.
③ Meme coins
Meme coins are currently still in the adjustment phase; we need to wait for the next wave of opportunities before the explosion.
If you focus on leading coins like DOGE or PEPE, once they strengthen, you can chase related small coins like pnut, neiro, wif, flock, etc., as these coins usually rise together with the leaders.
④ Capital management
Remember, funds have a time cost. In a bull market, the profit effect brought by sector rotation will be very obvious.
If you can't keep an eye on the sector changes at all times, it's best to enter the market only when there are startup signals, and avoid frequent position changes, so that you can earn more when the market really erupts.
Why did THE surge? Is it a good time to buy now?
Here's an interesting thing: CZ saw that the meme market has been booming recently, and it is no longer the crypto world he is familiar with, so he tweeted criticizing memes while mentioning AI and education. Then news came out that CZ might be vigorously developing his own BSC. As a result, Binance has listed several coins on the BSC chain and even airdropped BSC tokens to BNB holders yesterday.
Coincidentally, the trend after listing is different from previous coins; it surged directly without much pullback. That THE token was only 0.2 before the market opened, and last night it peaked at over 4.1. Airdropping 1 BNB resulted in 1.46 THE, which is also a big profit.
If you are a BNB holder and are not in a hurry to sell, it is recommended to keep it in a liquid financial product; you might receive more airdrops. I think there will still be similar opportunities in the near future.
As for whether to buy THE now?
I think it’s better to wait a bit now. Its market value is a bit high. It’s not too late to buy when it pulls back.
After Binance lists a new coin, it usually rises first and then pulls back, so it’s best not to chase the highs.
Once the market-making forces from traders weaken, prices may drop.
However, there is something noteworthy recently: Binance has gathered a large number of KOLs in Japan to hold a learning camp, with hundreds of influential figures participating.
During this period, Binance also released the airdrop advertisement for THE, and almost all KOLs participating in the learning camp are writing related articles about THE.
This is obviously to create momentum for the THE project. Now that traffic is king, this kind of operation is very insightful.
When these KOLs release news, those who are 'late to the party' will start to flood in, which may push the price up further.
When both funds and user traffic are in place, and everyone reaches a consensus, the price will naturally rise with the K-line, and many people will follow to chase the rise.
Many early entrants have already begun to take profits in batches, so it's not very suitable to buy in at this time.
Even if it's a good project, the timing of the entry is crucial. If THE can indeed become the core infrastructure of the BNB ecosystem, it’s not too late to enter after it goes through a round of washing.
Currently, funds and attention are starting to flow towards the BSC chain, which has overall explosive potential, so it can be a key focus for projects invested by Binance.
Continue to pay attention to SUI
SUI has also performed quite strongly recently, with an increase of about 10%, and trading volume reached $2.281 billion. The market sentiment looks very bullish. Although its price has fallen about 14% from the historical high of $3.93 on November 17, in the long run, SUI's price has already doubled. Since the beginning of the year, SUI's return rate has exceeded 337%, and its market value has reached $9.67 billion, ranking 18th in the cryptocurrency market.
If the market continues to remain optimistic, the price of SUI may break through its previous historical high and hit $4. If it can stabilize at this price level, the next target price may move towards $5.
