This issue includes:
Bitcoin rebounded rapidly, with bulls and bears fighting each other. What will be the trend next?
How to predict the big market trend? Exclusive tips and tricks revealed!
What are the recent hot spots in altcoins? Where are the trading opportunities?
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Bitcoin Market
Let’s first look at the weekly chart. Bitcoin has rebounded strongly this week, proving that the support level of $60,000 is still solid. You can consider placing a buy order near this level.
At present, entering the market with $60,000 to go long is a good choice. With leverage, the rate of return can reach about 100%, which is still quite considerable.
The daily chart reveals some possible risk signals, and the market may fluctuate or face a downward trend next.
Although the market has not closed yet, the current volume shows that the market is lacking in upward momentum, and a decline in volume is usually not a healthy sign of sustained growth. A healthy upward trend should be accompanied by a gradual increase in volume.
Therefore, we need to be vigilant about the current price level. This is the area where Bitcoin previously reached and began to fall, and there is strong resistance.
At the 4-hour level, after the recent wave of Bitcoin's rise, the momentum of both long and short sides seems insufficient, causing the price to fluctuate sideways at the top, which is a signal that needs to be closely watched. The market may be about to make a direction choice in the future.
If the energy of both the long and short sides is not strong, the price will probably fall sideways. But if the short side starts to increase in volume, the price may fall rapidly. Therefore, the short side dynamics in the next few 4-hour cycles are worth paying attention to.
After this wave of rebound, the volume of Bitcoin has shrunk severely, especially when approaching the resistance area of 66,000 US dollars, the trading volume began to decrease continuously. Judging from the current trading volume and K-line pattern, Bitcoin seems to lack the momentum to continue to rise, and special attention should be paid to the changes in trading volume in the next 4 hours.
If the volume turns bullish, the price could break through the current resistance and move further up to stronger resistance areas such as 0.786 or around $69,000.
I think Bitcoin may remain volatile or even decline over the weekend, because the current bullish volume is not enough to push Bitcoin to continue to rise unless the bulls continue to exert their strength in the next few 4 hours.
Tips for predicting big market trends
In addition to analyzing K-line and trading volume, how else can we determine whether there will be a big market trend?
I have a super practical trick to share with you. I have used it for a long time, so I won’t tell others about it.
This method is to predict by observing the annualized yield of lending on Binance and other exchanges. If the annualized yield suddenly soars to around 40%, it means that many people are borrowing assets with collateral, perhaps to speculate on contracts or buy spot goods. In this case, it often indicates the arrival of a big market.
Usually the annualized return of stablecoins on exchanges is between 5% and 10%. Once a big market comes, the annualized return rate often soars to 40%. So by observing this indicator, you can sense in advance whether a big market is about to happen.
According to my observation, many big rises have been preceded by a surge in the annualized yield of stablecoins. Therefore, this little trick can help you make trading decisions and judge market trends.
Altcoin Market
The recent surge in the price of $FTM is mainly due to its planned upgrade in the next quarter, including a reward mechanism for developers. Our community has long been planning the FTM token.
If you are interested after reading this, you are welcome to join the Wang Bu Ai community. The community not only provides trading signals, but also operation guides for spot and contract trading, and you can also follow orders directly. You can find out how to join by visiting my YT or X homepage~
I also found an interesting phenomenon today: Binance has launched TON contracts, which usually indicates that TON will be listed on Binance spot market soon. For example, the WIF token on Solana was listed on the spot market 3 months after the contract was launched.
$WIF After the spot was listed on Binance, the price also hit a new high. The popularity of TON has been very high. We have recommended a buying point in our previous video, which is very accurate.
I have shared relevant tokens in the community many times, and members of the copy trading community have successfully stopped profit many times. So don't hesitate, join us now!
If you are interested in making a profit on TON spot or contracts, you can consider buying TON when the price is lower.
Let's take a look at its daily chart first, which currently shows a certain downward trend. I suggest that spot investors can place orders in batches at these prices: $6.6, $5.68, and around $4.73.
$SOL 's rebound was also strong, with the price bouncing off the $114 bottom to around $166. The $114 level now looks like a strong support area.
Solana's momentum is still very strong. The trading volume of its DEX is the sum of the other five L2 public chains including ETH and ARB. Obviously, Solana's popularity is still continuing.
As for what other potential opportunities there are in the Solana ecosystem, I have shared them all in the community. Everyone is welcome to join the community and check them out.
