Greed, extreme greed!
Yesterday, the fear and greed index soared to 90, and now it has dropped back to 83. This index also showed a similar situation when Bitcoin peaked in March this year. If history repeats itself, there may be a wave of rapid decline that clears out the longs, so we need to be cautious. Looking at Bitcoin, since it broke through the temporary historical high of 93K, it has been oscillating at a high level for a whole week now.
The market is currently in a tug-of-war phase, neither able to rise nor fall. So how will it move next? Today, let's analyze this carefully! Bitcoin's persistent stability may be related to the emotions surrounding the US elections not fully dissipating. Trump has recently thrown olive branches to the crypto circle, but before he officially takes office, the market mainly relies on internal funds to speculate, and the momentum to push further up is clearly insufficient.
So when can we really attack? We have to wait until next year when Trump takes office, introduces a series of cryptocurrency-friendly policies, and with interest rates dropped to a neutral range (about 3%~3.5%), releasing a large amount of liquidity, only then will off-market funds truly enter the market. By then, Bitcoin might have a chance to surge to six figures, or even see $150,000. In the short term, if we continue to forcefully push up, it will actually be detrimental to the healthy development of the market; a proper correction is necessary.
Returning to today's market analysis: In terms of candlestick trends, the 1-hour and 4-hour levels show a downward trend, while the 12-hour and daily levels maintain sideways fluctuations. Today's key resistance level is at 94K, with a support level at 90K.
Let's continue to take a look at the altcoin side:
Recently, Solana (SOL) has been particularly hot, so let's talk about some of its highlights!
1. The next focus of speculation on Solana may center around the listing of ETFs, and it is expected that Sol will be stronger next year, possibly reaching new heights.
2. The on-chain value of Solana has been validated, with explosive growth in both funds and user numbers, and the price has maintained a strong upward trend as a result.
3. In the field of public chains, the popularity of Solana and Sui cannot be underestimated. Some projects in the Solana ecosystem, such as Ray and Drift, have also risen with the tide. Even the exchange rate between Sol and ETH has reached a new high, and everyone is jumping in. The current heat of Sol is akin to the status of ETH in the DeFi space during the bull market of 2020.
4. In addition to these, some new coins and narratives have also launched on the Solana chain, such as Rif, Uro, Sci, and Vita, which have increased in market value by several billion in just a few days. Especially Rif and Uro, these two are the official drugs meme in the DeSci field, and the research direction even involves the elixir of life, which is quite interesting. The concept of DeSci is based on the Bio direction of BN investment, similar to the AI meme (such as Goat and Act) invested by A16z, which is worth long-term attention, and there may be opportunities to list on Binance and break out of the circle.
5. Everyone has also noticed that meme coins have been very hot recently, such as Neiro, Punt, Cat, and Ban, which are all very popular, and most of these hot coins are issued on the Solana chain, which has also boosted the visibility and popularity of Solana once again.
The DOGS token is a cryptocurrency based on the TON network, and its recent performance has been eye-catching.
In the past week, the price of DOGS has risen by over 15%, with a market value reaching approximately $367.2 million. The price has broken through the key 0.618 Fibonacci retracement level, showing strong buying and bullish sentiment. Traders are watching the key level of $0.0011343, and if it breaks through, it may further rise to $0.0015458.
Institutional interest in DOGS is also increasing, with large trading volumes rising by 0.25%. However, there is still tension in the market, with liquidation data showing long and short positions closed at $743,410 and $111,390, respectively. Market participants are closely watching the support level of $0.0006565, and breaking the resistance level may confirm a sustained upward trend.
What opportunities exist during the market adjustment? Buying the dip in 3 popular coins could lead to an explosion of 20-100 times in the future!
PNUT
In the crypto circle, to get rich, it's not enough to have big names endorsing it; the most crucial factor is still real capital to drive it.
Just like what Elon Musk recently did with PNUT, Dogecoin initially soared from a market value of 10 billion to over 100 billion, while PNUT's current market value is only around 1 billion, leaving a lot of room for imagination.
NEIRO
Experienced investors usually believe that 'rising fast, falling slow' is a positive signal because this trend often indicates that the main funds have deeply intervened and made careful arrangements.
When the market environment is right, the main funds may use various positive factors, including political ones, to push the coin value further up. Therefore, seizing the right moment to buy the dip is the best operational strategy.
PEPE
As Bitcoin continues to set new highs and with PNUT launching on BN, the MEME sector has also welcomed positive breakthroughs. The resilience and upward momentum shown by PEPE (PEPE) make people full of hope, proving it has the potential to bring good returns in the bull market.
With the community-driven model and the combination with NFTs, PEPE coin has solidified its position as a powerful meme coin in the cryptocurrency field. Therefore, look out for PEPE; its price is likely to see a significant rise in the future.
Diamond hands rule: Lock onto the bull market track and welcome the ultimate explosion of the Meme season!
1️⃣ BTC breaks out and soars, Meme frenzy is coming!
BTC is aiming for 150,000, igniting emotions across the market, and on-chain PVP will become the main battlefield; fierce fighting is inevitable!
2️⃣ Opportunities with an on-chain value of over 5 billion
Projects on the chain that are not on BN can grow from 1 billion to 5 billion; it just needs time to ferment. Early entrants will be the big winners in the end.
3️⃣ Diamond hands will ultimately prevail
In the extreme market game, those who can persist until the end, the 'diamond hands', will reap the highest dividends. This is a battle of endurance and belief.
4️⃣ Wealth code: Track + leading projects
In a bull market, seizing the liquidity focus and recognizing leading projects is the true key to victory. Opportunities are fleeting, and any hesitation may lead to missing out!
The trend has started, and choosing is more important than effort! Your track, your future, act now!
I recently cleared out a bunch of old coins that were almost at zero. Looking at the long term, the candlestick patterns are all the same; in the end, they all head towards zero.
So when buying, you must think clearly about when to take profits and when to stop losses; don't change your strategy easily.
The hot spots in the crypto circle rotate too quickly; once attention is diverted and the dissemination path stagnates, without the next person to take over, it will basically rush towards zero rapidly...
Of course, the market liquidity is good right now, so this process may slow down a bit.
Finally
Of course, don't just look at the thief eating meat; you also have to see the thief getting hit. Many who avoided this drop actually missed the previous rise, resulting in not making any money.
The bull market is actually a process of continuous consolidation; everyone has gotten used to selling high and buying low, and they have done quite well. However, suddenly there is a wave of surge, and they miss it.
There is a real example, a friend of mine bought a coin during a bull market, and at the beginning of the year, it dropped from over 70,000 to over 40,000. He kept bragging about his grid trading, saying he made some small money by selling high and buying low. As a result, that coin suddenly rose to over 90,000 recently, and he completely missed out on that wave of profits.
The style you choose determines the money you can earn from that style. If you choose to sell high and buy low, you can only earn money from that strategy; the bull market does not matter to you. However, if you choose trend following, set stop losses, do not operate frequently, and patiently wait, you will eventually reap the 'big meat' that belongs to you.
