Today is November 9, 2024, Saturday. Bitcoin has once again set a historical high last night at $77,200. Ethereum also successfully broke through $3,000 this afternoon, reaching a high of $3,050. BNB is still continuing to rise, peaking at $638 as of this report. Platform coins are starting to catch up. Historically, Bitcoin still holds the risk of a correction; however, the overall direction is clear, so a pullback is also a good opportunity for us to position ourselves. In the relatively sideways state of Bitcoin over the past two days, Ethereum and ADA have also made some gains, and today BNB has also started to rise, indicating a rotation of funds, which is a good sign!
Funds will start rotating and speculating. Currently, everyone can pay attention to game-related concepts, particularly MAGIC and YGG, as they may have potential for upward movement and should be key objects of focus.
Brothers who observe carefully should be able to find that before 12 noon every day, specifically between 8 AM and 12 PM, we can basically determine the active cryptocurrencies for the day. Those who like to trade in waves can look for opportunities among these active cryptocurrencies. For example, today's rise in BNB allows us to check related cryptocurrencies CAKE and BAKE; if they have not yet risen, that presents an opportunity to enter the market.
Just like when Ethereum rises, you look for varieties related to Ethereum. If SOL is strong, you seek layout opportunities in its ecosystem projects. The same operational approach applies to other altcoins.
Additionally, another cryptocurrency worth mentioning today is STG, which has a history of explosive growth. For such cryptocurrencies, we need to be familiar with their rhythm and characteristics. During strong rises, opportunities often lie in wait. For short-term trades, managing stop-loss and take-profit levels is crucial, and it's generally advisable to take profits when they are available.
Opportunities on weekends are relatively few; just hold your medium to long-term positions well. For short-term trading, you can pay attention to trading opportunities between 8 AM and 12 PM every day, as the afternoon usually experiences smaller fluctuations! Medium to long-term positions do not need to be concerned with short-term fluctuations; patience in holding is essential, while short-term trades should focus on quick in and out strategies!
Today's article ends here; see you next time!
Investing carries risks, and the above content is purely personal sharing and does not constitute investment advice!
