In the last 24 hours, a total of 75,528 people were liquidated, with a total liquidation amount of $197 million. The largest single liquidation occurred on Binance - BTCUSDT worth $2.0027 million. Now it feels good, and a lot of leverage has been removed. It seems that there will be another deep wash, but the longer the shock, the easier it will be to take off later!
Yukong is finally here
Continue to wait for the turning point in late September. Keep washing in the bottom area, keep insisting! In fact, every time I post a post, it is not to say that the price will rise immediately, but it is determined to be the bottom area. When to start depends on the dealer. I just choose to insist when the price has been falling for nearly 5 consecutive months.
Unless the dog dealer is awesome and breaks the record of the crypto market and falls to the end of the year, a fall of 8 months. I will only accept it if it continues to fall until the end of the year, otherwise I will not accept it.
The M countrymen really have no vision, they smashed the market as soon as it opened
Yesterday, the price of Bitcoin was blocked when it was about to break through the 60,000 mark. It had stabilized above 59,000 before the opening of the U.S. stock market. Unexpectedly, after the opening of the U.S. stock market, the U.S. institutions directly smashed the market to below 58,000. Bitcoin was like a drowning person who finally swam to the shore. An American on the shore stretched out a leg, thinking he was going to help him, but he was kicked hard.
At this moment it is still evening time for people in M country. Just now, a big negative line directly broke through the 56000 mark. It has now quickly recovered to above 56500. At present, it has not stopped falling. If it does not fall below the low point of the previous pin today, 55555 will be the bottom in recent days.
From the K-line analysis, the 1-hour, 4-hour, 12-hour and daily levels are all in a downward trend, the fear and greed index is 27, various altcoins have fallen terribly, and most of the leeks have been trapped. The intraday pressure level of the big cake is 58500, and the support level is 55000
If it is the bottom now, how should you buy at the bottom?
Although the risk of copycats is high, you still have to rely on copycats to turn things around: the market has been falling since April 8th, and it has been almost 5 months now. There is nothing special about this. It is said that the market has been falling on average every September for 11 consecutive years, but don’t ignore that October is a rising month every year. The pessimistic thing is that September will fall again, and the optimistic thing is that September will give you the opportunity to buy at a low price. Therefore, the decline in September is the node you must buy.
I cleared some of my positions in the altcoins during the big drop and rebound in April, and kept a lot of Bitcoin, Ethereum, and BNB for hedging. Last night, I unwound my hedge and bought 20% of my total positions in altcoins. With limited funds, if you want to maximize your profit and loss ratio, target selection and position management are undoubtedly very critical. I prefer altcoins with good fundamentals, high liquidity, more powerful project parties and investors, larger declines, and aggressive tracks. I also prefer the leaders of the sector and new coins with high liquidity. See yesterday's article:
Share a trading psychology: a must-read for old fans!
The purpose of operation is to make a profit, not to operate for the sake of operation. The key to analyzing the market is to determine the buying and selling points. You have to gnaw on the fat meat, not gnaw on a bone without meat (leave this matter to Da Huang).
I have looked at several major currencies in the market. Almost all of them are close to small-level support and large-level suppression, which means there is almost no room for trading. The current market comprehensive profit and loss ratio is negative. There is no need to bear the possible 10% decline for a 3% profit. Of course, if you know how to eat bands, position management and stop profit and do well, then it is still this sentence: "Drinking soup is also very good." After all, success is not based on luck, choice is greater than hard work, and the circle determines destiny!
It is very appropriate to understand the current market situation by using the concept of walking on a high wire. I personally feel that in recent days, we should watch more and do less: do not easily exit large positions, and strictly set stop losses for small positions. Not taking any action in this market is also an efficient operation, and you can outperform many people without taking any action. Newbies must not become anxious when seeing others posting their orders. In many cases, protecting the principal is more important than local profits. There will be no shortage of opportunities once the market shows a clear direction.
As the saying goes: "Life and death are determined by fate, wealth and honor are determined by God"!
Since entering the crypto market, our goal has been to make money. Before the narrative bonus pool is fully filled, will we regret it for the rest of our lives if we give up our chips and leave the table completely?
I don’t know the answer to this either.
We are all Columbus, and we are all warriors who have witnessed the opening of new continents. The road of discovery and exploration is really not easy. The rate of capsizing in strong winds and waves is very high. All we can do is to steer the rudder, repair the hull, and wait for the moment to reach the shore.
The secret to getting rich in the future: Protect your capital now! Be prepared for the 4 most worthwhile cryptocurrencies to buy when the big market comes!
1.FTM
Fantom will launch its much-anticipated Sonic testnet next week, its most ambitious upgrade to date. The upgrade introduces a new high-throughput Layer 1 blockchain with a native Layer 2 bridge to Ethereum [ETH]. Fantom seeks to optimize performance and provide a more seamless user experience by testing new features before major releases. Sonic plans to offer the low cost, scalability, and speed of Layer 2 with the security of Layer 1, targeting 10,000 TPS and already reaching 2,000 TPS on the testnet. Full release is expected in late Q4 2024.
It fell 16% in the past week and rose 10% last week, with a market cap of $1.85 billion. Fantom has been in a downtrend in the past week but broke out of a falling wedge pattern on the daily chart. It reached the $0.50 price level before falling back to around $0.40, which is a key support area. The $0.4 price level had previously driven the price up 37.48%, which suggests that traders may have an opportunity to enter the market and target the first target of $0.50 again. Once the market conditions are favorable, Fantom may reach the $1 mark in 2024.
As the Sonic upgrade approaches, FTM prices could go parabolic either immediately or once more fundamentals kick in. Combining the OI-weighted funding rate with recent social dominance and volume associated with the Sonic upgrade suggests FTM could be poised to rise.
2. TREES
The Book of MEME is a crypto meme project built on the Solana network. It represents an ambitious effort to capture and promote dynamic meme culture in the digital space. Although the project has its origins in memes, it combines memes with decentralized storage solutions to build a dynamic trading and gambling platform.
Furthermore, it ensures permanent record and global accessibility of each meme. BOME combines memes with decentralized storage solutions and degenerate shitcoin trading and gambling. This unique combination provides users with a unique way to participate in meme culture. They can do this while exploring decentralized finance (DeFi) and blockchain technology.
The BOME token is used for multiple purposes in the ecosystem. It is designed to preserve and engage users in meme culture. These purposes include rewarding participation in decentralized storage solutions. It also facilitates gambling and trading activities on the platform. Holding the token also guarantees participation in platform governance.
Furthermore, BOME has experienced a staggering growth of approximately 577% in the past year. This significantly increases its initial growth of 1,030% since its launch. Investing in BOME could be a promising decision. This prediction is based on the upcoming partnerships being proposed and other utilities that are about to be implemented.
3.WIF
Meme coins experienced a notable recovery on Monday as the overall cryptocurrency market rallied during the Labor Day holiday. Dogwifhat (WIF) mirrored this trend, surging 13.21% to $1.58. Despite this rise, price forecast sentiment remains bearish, with WIF still down 67% from its all-time high, indicating high volatility.
Dogwifhat has been trading in a range of $1.20 to $1.77. WIF’s recent 25% drop in a week has caught the attention of bullish investors who are eyeing key resistance levels.
The next significant resistance is at $2.14. A breakout above this resistance could push the price to $2.71, which would imply a possible upside of 55% from the current range. If WIF holds the $1.01 support, it could pave the way for a strong uptrend with bulls ready to challenge the bearish momentum.
WIF’s 30-day volatility is 10%, well below the 30% threshold, indicating a relatively stable period. Additionally, the token is highly liquid, with a volume-to-market cap ratio of 0.8385. WIF is actively traded, with a market cap of $1.58 billion and a 24-hour trading volume of $1.33 billion.
4.BNB
The BNB Chain ecosystem expanded significantly between August 20 and August 31, 2024, introducing various new projects in multiple fields, including DeFi, AI, decentralized social networks (DeSoc), and Web3 games.
LIKWID is a decentralized finance (DeFi) platform that stands out among the many new entrants. It offers lossless presales and transaction fee sharing features, and is designed to operate across multiple blockchains. Its goal is to smoothly integrate into the wider DeFi space.
Noracle is another key project focused on artificial intelligence (AI). It provides a protocol for prediction-based decentralized applications (Dapps) and games, enhancing the interactive and predictive capabilities in the Web3 environment.
Despite these encouraging additions, trading volume on the BNB chain’s decentralized exchange (DEX) has dropped significantly by 29% over the past week. This drop is more significant than the declines on DEXs on Ethereum (11.5%) and Solana (19%). However, the price of Binance Coin (BNB) has shown signs of recovery, rising to $535.
BNB remains one of the top cryptocurrencies by market cap, excluding stablecoins. Its market cap is $77.98 billion, just behind Ethereum (ETH) at $302 billion and Bitcoin (BTC) at $1.164 billion. Moreover, Binance Coin is trading 2.82% above its 200-day simple moving average (SMA) of $519.23, indicating a positive trend relative to its token sale price.
