Bitcoin has been struggling to catch up to the highs in the past two days. The market news is good. The basic rule is that it rises before the good news, falls when the good news is coming, and the market will pull back after the good news is implemented. Once the decline begins, it will not end in the short term. It will take a period of adjustment to accumulate strength before rising again. There is no profit in the short term. BTC has a local peak signal. Although Bitcoin rose further yesterday, it is already at the end of its strength. At present, there are obvious local peak signals:
(1) The 4-hour RSI showed two consecutive top divergences, which is an obvious overbought signal;
(2) ETFs with strong indicative characteristics, such as FBTC, ARKB, and BITB, ended their five-day streak of net inflows and turned to large net outflows, indicating that ETFs have changed from selling to selling;
There are two possible trends for Bitcoin in the future:
Scenario (1):
The third sub-wave of the fifth wave has been completed, and the fourth sub-wave has begun. Next, it will pull back to STH RP;
Scenario (2):
The third sub-wave of the fifth wave has not yet been completed. Next, it will first pull back to MA30 and then continue to rise. It is hard to say which possibility is more likely at present. It mainly depends on whether Bitcoin will effectively fall below MA30. The current MA30 corresponds to the price: 98400, and the STH RP corresponds to the price: 84000.
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After the plunge on December 9, it has been nearly 10 days of shocks and washouts. Currently, most altcoins are undergoing secondary testing, and the trading volume of the secondary testing is small, indicating that the selling pressure has weakened. After Bitcoin peaked locally on November 22, altcoins generally saw a relatively large rise. Currently, Bitcoin has shown a signal of a local peak again. It is not ruled out that altcoins will see another wave of rise after completing the secondary test.
Shanchuan recommends these tokens with unlimited potential:
» Avalanche （$AVAX）
Market capitalization: $19.108 billion 24-hour trading volume: $752 million
Avalanche's token Avax is also part of the recently launched altcoin season, and is also a token with good growth among the old public chains.
From the news perspective, the recent rise in Avax may be related to Avalanche's layout and growth in RWA, in addition to the "hype" from the founder of Ava Labs hinting that it is in dialogue with the new U.S. government to promote cooperation.
Avalanche has a great advantage in developing RWA, which allows developers or enterprises to create their own independent subnets
» $VELO
Market value: $242 million
24-hour trading volume: $110 million
Velo, a global settlement network built on blockchain, can provide individuals and businesses with fast, secure and low-cost services for cross-border payments.
Last year, DWF Labs made a strategic investment of $10 million in it.
In September this year, Velo announced that it had integrated BlackRock’s tokenized BUIDL fund into its USDV stablecoin system, creating seamless trading and income-earning opportunities for more than 1 million users in Southeast Asia.
VELO rose 30% in the week and 121% in the month.
» PolySwarm （$NCT）
Market value: $60,400,700
24-hour trading volume: $6.9746 million
Polymesh is an institutional-grade permissioned blockchain built specifically for RWA tokens and a blockchain built specifically for security tokens.
Strong rise!
PolySwarm doesn’t just focus on price movements, it’s also a crowdsourced threat intelligence platform.
It uses Ethereum smart contracts to detect emerging threats.
What makes PolySwarm stand out is its PolyScore system, which ensures that threats are detected early and accurately.
Users are rewarded with NCT tokens for their contributions, which also provide access to valuable insights within the network.
