Bitcoin broke through 100,000 a few days ago, reaching a historical high, but yesterday it retraced to a new high in recent years due to liquidation. In a bull market, sharp rises and falls are inevitable. For spot trading, there's no need to worry; after a quick pullback, it will rebound rapidly. Recently, each coin in the market has averaged a 1-2 times increase, and a 20%-30% pullback is normal. In two weeks, it may rise another 2-3 times, followed by another significant drop.
Every bull market is accompanied by significant pullbacks. Ethereum's pressure points are between 4000-4800, and after a pullback, swing trading can be done at support levels. For altcoins, focus on strong coins; a significant drop is a good opportunity to increase positions. Moving forward, it’s advisable to hold 10%-20% positions in altcoins, while others should continue to wait!
As for whether we will see frequent spike situations recently, tomorrow's CPI data will be released, and the Federal Reserve's meeting on the 19th is approaching. In a bull market environment, sharp declines may occur more frequently. As for whether the bull market will continue, the answer is affirmative; the bull market is still ongoing, and it’s a good opportunity to bottom fish, especially focusing on newly listed coins, AI, MEME, and RWA-related projects. Some have asked what to buy; I tend to look for coins that remain strong even in a downturn:
$MOVE is quite strong, performing steadily during the downturn, with an opening price of about 0.6, now rising to 1.4. Airdrop earnings are also decent, and the testnet benefits are quite comfortable. Although I didn’t participate in the testnet, my BNB was still in the account during the snapshot, unexpectedly receiving 4900 in airdrops, which is somewhat comforting.
$ME will launch an airdrop at 10 PM tonight. Currently, Binance has not announced it, but there are signs of test deposits on-chain. I hope BNB holders can also get a share, and since my BNB was still in the account during the snapshot, I’m slightly looking forward to it.
$USUAL has remained relatively stable during the downturn, possibly due to pre-market trading restrictions. It has doubled since pre-market trading, and its performance after the market opens is worth watching.
DOGE
Dogecoin has dropped 10.3% in the past 24 hours, currently trading at $0.406, raising concerns about whether it can hold the key support level of $0.4. Although market sentiment remains bullish, technical indicators show short-term pressure on the trend.
CoinCodex predicts that by January 9, 2025, the price of Dogecoin may drop by 6.2%, reaching $0.381. Nevertheless, they believe the current price may be a good buying opportunity. Over the past month, Dogecoin has performed strongly, with price volatility reaching 10.75%, where 63% of trading days were profitable. In comparison, its performance over the past year has been even more impressive, with a cumulative increase of 304.1%.
Recently, traders and investors are closely monitoring the performance of the $0.4 support level. If it breaks below, it may trigger further selling; conversely, holding above this level could lay the groundwork for the next rebound.
TON
In the past seven days, $TON the price has dropped by 1.01%, with an intraday trading range between $6.59 and $6.82, currently down 3.54%. The key support level is at $6.50, which had previously acted as a rebound starting point. If it holds above $6.50, TON may be expected to regain a bullish trend; however, if it falls below, it could further drop to $6.28 or even $5.45.
On the other hand, TON's network activity has decreased significantly, with new addresses down 16.33%, active addresses down 19.69%, and zero-balance addresses down 41.90%, reflecting a decline in blockchain participation. This sluggishness is closely related to price consolidation and weakening market sentiment.
In the future, improving network participation will be key to TON's rebound. Higher network activity and ecosystem growth may provide price support and bring new upward momentum.
BabyDoge
Baby Doge Coin (BabyDoge) has performed outstandingly, soaring 31% within a week, jumping to rank 12 in meme coin market capitalization, reaching $859 million. Meanwhile, the social media activity of $BabyDoge has also significantly increased, with its official X account announcing that the number of holders doubled in just 15 hours, which is an important milestone for small meme coins.
Currently, BabyDoge's trading price is $0.085666, down 13.46% from its historical high of $0.086355. Since December 2023, this coin has increased a total of 274.06%. However, the accumulation/distribution line is showing a flat trend, indicating that volatility may decrease in the short term. The moving average convergence/divergence (MACD) indicator shows bearish divergence, suggesting that after a significant rise recently, the price may face some pullback pressure.
Today's article concludes here. Currently, we are in a bull market, with fluctuations everywhere, and we share passwords daily. If you’re unsure how to act in a bull market, feel free to follow us for insights on bull market spot trading strategies, which can be shared freely.
#币安MOVE开盘 #MagicEden(ME)上市币安 $TON
