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Bitcoin surged again this morning, reaching a high of 73620, just $160 away from its all-time high. Basically, it will continue to rise and break 73777. It is ridiculous that Bitcoin is about to hit a new all-time high for the second time this year, but most of the altcoins are still at weekly lows or near historical lows. Even Ethereum is still 80% away from its all-time high. Only a few individual currencies have outperformed Bitcoin. The spot market is still relatively bleak.

Does that mean that the spot market has no chance in this round of market? No, there is always a rule in the bull market. That is, in the entire bull market cycle, Bitcoin is dominant for 80% of the time. Only the last 20% of the time at the end of the bull market is the time for Ethereum, mainstream currencies, and most altcoins to finally increase their prices and sell. The only difference from the previous bull market is that in the early stage of the previous bull market, most altcoins also saw a relatively large increase, and in the past, once the bull market oscillated sideways for more than one or two months, the altcoins and mainstream currencies would take over and start a round of increases.

This year is different in that Bitcoin has oscillated at a high level for more than 6 months, while most altcoins are trending lower and have not taken over to drive a rally. In this case, the time period for altcoins and mainstream coins to rise will continue to be postponed. Personally, I expect it will take another month or two before altcoins and mainstream coins have a new main rally. Before that, it is not ruled out that there will be another roller coaster market.

In November and December, how should the layout for mainstream altcoin spot be? If interested, you can privately message me to join the spot membership group.

BTC

Due to rapid changes in the market, this article can only make predictions based on the market changes at the moment of publication. Short-term players should pay attention to the latest market changes; this is merely for reference.

1H:

At the 1H level, there may be a 1H level pullback here, retracing to the 70000~71000 range, followed by a third 1H level rebound. The target for the third rise is around 74500.

15M:

At the 15-minute level, there is ongoing oscillation, building a central point. Let's see how it goes here. If it continues to drop and breaks below 71800, there should be a 1H level pullback, focusing on 71000 and 70500 below. If it does not break below 71800, then watch if it will drop again to 73777 before starting a 1H level pullback.

ETH

The 1H level rebound for Ethereum is finally approaching 2700. The short-term expectation is that there should be a 1H level pullback soon. If it successfully unfolds, watch around 2570 or 2550 below. After the pullback completes, there will be a third 1H level rebound, with the target continuing to look above 2800.

Trend Direction

At the weekly level: Direction is upward, currently moving towards a new weekly level rise, with an overall target looking at 100000+

At the daily level: Direction is upward, potentially reaching around 75000

At the 4-hour level: Direction is upward, focus on 74000~75000

1-hour level: Direction is downward, expected to have a 1H level pullback, focusing on the 71000~70000 range

At the 15-minute level: Direction is downward or consolidating. First, watch whether it breaks below 71800 tonight.