After Christmas, after a full day of US stock trading, BTC is still firmly above 94,000. From the URPD data of BTC in the figure below, we can see
There is strong support at 93000 and 94000. This shows that in the current low liquidity, although the market sentiment is not very good, it is definitely not very bad. Especially today is Friday and tomorrow is the weekend, liquidity will continue to remain sluggish.
In this case, everyone should use leverage with caution. In the absence of strong emotional stimulation, this volatile and frustrating market is likely to continue until the end of the New Year's Day holiday.
As for altcoins, in the absence of obvious movement in BTC and ETH, altcoins will naturally find it difficult to make any progress and will also fall into a state of shock and weariness. Only platform coins with high control may go against the trend. There must be a leader in the altcoin season! ETH leads a group of altcoins to pull the market together. The following ETH chart: Now it can only be regarded as shocking. It has not yet run out of this round of big box. Only the big cake itself pulls it up, which is not called a bull market in the currency circle. Yesterday's downward poke was not expected, but it was also natural. It should be smashed. Switching to ETH's daily line, the rebound starting on the 23rd had no volume. 23, 24, and 25 went up a little bit, but the volume was getting smaller and smaller. At this time, it is better to fall down and test the situation below. Yesterday's decline, there was no volume. Big cake, ether, and altcoins are all the same. Retail investors have already flattened. From a technical point of view, ETH is just at the support level, around 3360. If it holds here, ETH will form an ascending triangle.
Why did it fall? Essentially, it is because there is pressure from above that cannot be broken through. After several attempts, there is still pressure at the 100,000 mark above Bitcoin and the 3540 position above Ethereum. If it is impossible to go up, then go down to clean up the market. Under the condition that the basic logic remains unchanged, as long as it does not fall below the original bottom, it is mainly to clean up the chips. The decline is indeed unpleasant, but it is a necessary process. Even if it does not fall, if Ethereum does not increase in volume, it will still have no practical effect. To achieve a rapid surge, you must wait until it increases in volume.
The second season of Squid Game is online. I was playing PVP around this IP all day yesterday. The highest FDV of DALMATIAN reached 13M. However, this kind of meme has no continuous habit, so it is reasonable to run in any position after making money.
The rise and fall of altcoins were mixed. The most eye-catching performance of CEX was still the platform currency. The surge of BGB directly led to the market of GT CKB. However, the price manipulation of BGB was obvious and FDV was seriously overestimated. At this time, it is not advisable to continue to rush. Instead, it is better to observe and find opportunities to go short or long.
The platform coins BGB, BWB, GT, OKB, and OKT have all risen, but the platform coin HTX of the former three major exchanges has not risen much! Currently around 0.0000023, buy a little, the profit and loss ratio should not be bad! Sun Ge family bucket: TRX, HTX, SUN, JST, BTT, WIN, NFT, BAN.
This entire round of market trends can be divided into three stages.
The first stage is from the end of 2022 to October 2023. During this stage, the market still follows the original currency circle, which is very conventional and we are accustomed to it.
The market differentiation started from the second stage, from October 2023 to October 2024. In the middle and late stages of this stage, the trends of Bitcoin and altcoins diverged significantly. Bitcoin emerged from a slow and long bull trend, replacing the decline with a sideways trend, showing a very tough performance. However, altcoins experienced a deep bear market during the long bull cycle of Bitcoin.
Now we have entered the third stage, which will start in October 2024. Bitcoin continues its own bull market. But I think that at this stage, we have reached the early stage of the altcoin bull market. The first stage will not be so fierce, only a few currencies will perform strongly, and then there will be a retracement, followed by the third wave of altcoins.
My strategy is: use the profits (retracements) of Bitcoin to give opportunities to altcoins, and wait for the arrival of the main uptrend of altcoins.