Bitcoin has been oscillating below $100,000 for about ten days now, and is currently gradually forming a high-level triangular oscillation structure. Below, I have predicted two of the most likely oscillation routes. If it is the first option, then the oscillation time period is almost up, and the market is about to break out in a chosen direction.
If it is the second option, continue switching the oscillation structure, with $91,500 as support, and then initiate an upward trend.
Of course, there are third, fourth, and other possibilities, but they need to be gradually deduced over time as the future oscillation state evolves. However, the bottom line is support at $86,000! Once the price falls below this support, I won't understand it. At least the current upward trend is maintaining very well. While Bitcoin is caught in a high-level oscillation forming a structure that exchanges time for space, Ethereum is stabilizing the overall trend, and strong altcoins are ramping up. This state is characteristic of a bull market. Generally, in a bull market, those inside will definitely make money first, attracting external liquidity. This round of external funds has mostly flowed into Bitcoin and MEME, while last year it was into inscriptions. Bitcoin is driven by ETF capital purchases, most of which are external institutional funds. However, these funds often do not believe in any other coins, so they only buy Bitcoin and do not buy others. MEME has attracted a portion of external funds into the crypto circle through various communities, both online and offline, and initially, they mostly won't buy other coins. But this is actually detrimental to the VC coins in the entire crypto market, which is why VC coins have been sluggish. A healthy market requires other external liquidity to enter, or Bitcoin funds within the market, and MEME to shift towards traditional VC coins. When Bitcoin drops a bit, MEME coins drop overall, and then spring comes for VC coins.
So, during these recent Bitcoin corrections, when everyone started to panic, I always advised everyone to stay calm. Those who managed to stay calm during this time basically won against 80% of retail investors' mindsets. The market makers have indeed done this; when Bitcoin and MEME drop, VC coins instead are rotating in an upward trend, but this is probably after many retail investors were scared off and exited, that they started to push prices up. Mainstream VC and established altcoins have recently seen massive increases, with monthly gains of 100% being the least, and Dash doubled in just a few days.
The RWA sector has also experienced an explosion today, taking the last lap, with a daily increase of over 40%. In the article on November 20 (Will Bitcoin break 100,000 this week? Is chasing MEME feasible? What will be the next surging sector in the bull market?), I advised everyone to adopt a long-term mindset to invest in RWA like ONDO, which is now yielding returns.
In this article (Will Bitcoin break 100,000 this week? Is chasing MEME feasible? What will be the next surging sector in the bull market?), my view on SOL and MEME is 'take profit, sell.' For RWA, my view is 'opportunity, consider from a long-term perspective, and even should consider diverting profits from MEME into here.' If on the 20th, everyone had read this article and sold MEME from the highest position to switch into RWA like ONDO, this operation would have maximized profits.
