Today is November 22, 2024, Friday. Bitcoin continues to set new highs, reaching a maximum of $99,419. With less than 600 points remaining, Bitcoin is set to successfully break the $100,000 mark. After $100,000, Bitcoin will enter a new milestone!
Bitcoin is currently in a peak-testing phase. Personally, I believe that the closer it gets to $100,000, the higher the risk may be. After all, the current fear and greed index has reached 95. Everyone knows that when the fear and greed index is below 10, it represents a bottom-fishing phase. Buying at this position carries minimal risk of being trapped in the short term. However, with the current fear index above 90, reducing positions at this time is also likely to provide opportunities to buy back at lower levels in the future. Therefore, I personally recommend that those with positions should consider corresponding reduction strategies, especially for those coins that have already seen significant profits. Learning to realize profits and securing gains is what truly belongs to you; otherwise, it's just a string of numbers. For coins that have not yet begun to catch up, observe if there are opportunities for a last-minute surge. If a catch-up opportunity arises, it is also advisable to take profits.
My current personal strategy is to prioritize risk aversion. After all, there are countless opportunities in the market, and it's impossible to seize every trend. If you can earn a hundred, just take seventy! Protecting your principal and maintaining your profits is the true principle!
Currently, it is more important to pay attention to the market for Ethereum. Yesterday also saw a wave of catch-up, which finally felt like a breath of fresh air. However, every time Ethereum catches up, if it's not part of a trending rally, it often poses a risk point. Of course, if it's a continuous rise, that’s fine, but if not, it usually indicates a risk of correction!
Yesterday's catch-up in Ethereum also drove the entire Ethereum series to take off. This kind of linked trading strategy is still very effective because ecosystem projects often exert force subsequently and with higher gains. For example, yesterday Ethereum had a strong upward movement at eight o'clock, and if you look at OP, ARB, ZK, METIS, ETHFI, and other projects at nine o'clock, their strong upward movements all started with a twenty-point increase. This approach also applies to SOL's strength, with its ecosystem's JTO also surging strongly.
In the spot market, the focus should now be on sector rotation, especially for players with smaller capital who want to flip positions quickly. Every operation is very important, and there will definitely be strong sectors during a broad market rally!
Additionally, mainstream varieties remain strong, with XRP, XLM, ADA, and ALGO being key focus points during pullbacks. A conservative strategy is still to wait for a pullback in Bitcoin to look for entry opportunities in altcoins. Otherwise, chasing highs in the short term can easily lead to getting trapped at relatively high points. If there is a pullback, pay attention to the strong varieties. Currently, the earning effect of altcoins is just average, with more sustained increases in several mainstream varieties, while many altcoins are still at the bottom!
The current fear and greed index has risen above 90, which cannot be ignored. Be prepared for defense, ready to attack when possible, and to retreat when necessary! Remember not to go all in! Be patient and wait for low entry opportunities!
This concludes today's article. See you next time!
Investing carries risks, and the above content is for personal sharing only and does not constitute investment advice!
