Rarely had a calm weekend, with no good or bad news, and the liquidity remains low, so it's a good time to take a break. After all, the closer we get to the election cycle and the rate cut cycle, the less time there is for the market to rest.
The early investors have not changed, and recently it's been short-term profit takers who have been continuously selling, probably waiting for the price to pull back again. We'll have to see the CPI data next Wednesday. If the CPI data continues to decline, the market's sentiment for defensive rate cuts will continue to rise.
BTC's weekly level breakthrough of the downtrend channel heralds the bull market!
The "big cake" has been running in this framework for as long as 5 months, which is considered a correction! As long as it maintains operation above 60,000, the probability of a breakthrough is very high. It is expected to break through this downtrend channel in 30-60 days, and then soar to a bull market of 90,000-120,000!
Mid-term strategy for the next few months.
The upward correction range ends at 73,777-49,000, with 49,000 being the lowest point of this round of the bull market.
But the bull market is highly likely to end around March to May next year! Starting from March next year, I will gradually liquidate my positions!
There are almost no long positions in the market, the market is very light, currently in a dull market, with sideways movement instead of decline. When most people are bearish or lack confidence, that's when the sudden rise will begin, catching everyone off guard. The expected bullish targets are 90,000-110,000 for BTC, 4,000-6,000 for ETH, and 200-400 for Solana. For BTC below 56,000, ETH below 2,400, and Solana below 140, positions can be established in batches, with good risk management.
In terms of altcoins, this is a general uptrend.
However, there are differences in strength. Strong ones like TON, which was listed on Binance and immediately started to rise, have reached historical highs; SUI TAO, chosen by Grayscale, naturally continues its strong trend, with over 20% increase; TIA STX, both about to upgrade their mainnets, are also driven by positive news, with over 15% increase; RWA projects are also experiencing a long-awaited strong trend, with ONDO, MKR, and others having over 10% increase; AI DEPIN's L2 public chain is also performing well; in the politifi sector, KAMA saw a 30% rebound due to Harris's victory over Trump.
The new internet celebrity meme token FWOG doubled in value, and mainstream meme tokens like WIF and PEPE BRETT on CEX also saw over 10% increase. The meme sector is indeed getting stronger.
BTC briefly dropped to 48,000, causing many to go bankrupt in their contracts. Many long-term believers sold at 53,000 and now hold USDT. Now BTC is at 61,000, steady as if nothing had happened. The German government, the US government, and Mentougou are all silent. Everything remains the same, except that your money is gone, and your home is gone!
In the cryptocurrency industry, if you want to seize the opportunity of the next bull market, you need to have a high-quality circle, where everyone can huddle together for warmth and maintain insight. If you are alone and at a loss, you will find that there is no one else, and it is actually very difficult to persist in this industry.
If you want to huddle together for warmth or have any doubts, feel free to join us - WeChat Official Account: Youth with Crypto Ambitions.
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