Will the market continue to rise or encounter resistance and fall back? Strategies in hand, no worries about adjustments:
Bitcoin has broken through $68,000, surged, then rapidly declined, subsequently entering a consolidation range, with prices still maintaining slight fluctuations, which is normal.
Bitcoin at high levels needs to gather strength for a bit of adjustment before launching another full-scale attack. The altcoins haven't risen because Bitcoin hasn't yet provided the market with strong confidence, so for now, it's still mainly on-chain memes, but cycles and funds will definitely rotate.
In fact, the closer we get to the $70,000 mark, the greater the pressure on BTC. At this time, the selling pressure will be even larger, so it's better to wait and see, especially since there hasn't been any sustained positive news yet.
From the support perspective, the range from $64,000 to $69,000 remains very stable. The current turnover mainly consists of short-term chips, and there hasn't been any fear of heights triggered by the price increase.
In this round of upward trend, barring any major unexpected factors, it is inevitable that Bitcoin will break new highs. Currently, the price of BTC is around $67,700, only $6,000 away from the historical high of $73,777, which is less than a 10% increase. The best rhythm here is to fully consolidate in the current range (between $66,000 and $70,000), and after the adjustment is in place, directly break upwards!
On the 4-hour chart for Bitcoin, the previous resistance around $66,000 has now become strong support. If a short-term pullback is needed, then $66,000 is the best support level.
We can see that BTC is continuously raising the bottom price. At any time, we must remain rational; analysis is one aspect, and operation is another.
Never have FOMO emotions at any time; control your position well.
Regarding the selectable cryptocurrencies, I have simplified yesterday's article on spot trading:
Now altcoins are stirring, and the rotation rules are basically consistent with before:
Bitcoin breaks through, then ETH starts to drive the entire altcoin market. The most important thing now is to see if the overall market can effectively break through.
1. Memecoins are undoubtedly the hottest sector in these rounds:
From Pepe, Floki, Bonk, People, to the recently launched Neiro, Turbo, the heat and capital inflow of meme coins have always been at the top. There should be at least ⅓ to ¼ of your position in spot trading.
2. AI Artificial Intelligence sector:
Arkm, Phb, Wld, Fet, etc.
3. Chain oil sector:
Bnx is currently filling back significantly; you can lay out some near 0.6 in spot trading, Ygg, Loka, Gala, etc.
4. Sol ecosystem sector:
Wif, Jup, Jto, Ray.
Recently, some brothers have asked about Trump's new coin; let me say a few words:
Wlfi is officially publicly fundraising, but this fundraising model is quite rough, directly asking for money, and raising $300 million in one go, with no personal quota limits. The main point in this investment introduction is that the tokens are only used for governance and have no rights, and cannot be transferred for at least one year, nor will there be a pool in the secondary market. In short, it feels like they are really asking everyone to donate; everyone should consider this carefully.
Knowing is easy, doing is hard (everyone knows the reasoning, but it's really hard to do it!)
A fan questioned me on how I determine whether this is a reversal or a rebound!
I can't absolutely determine whether this is a reversal or a rebound, but I only know that this is an opportunity… In the main rising wave of a bull market, being deceived by ten rebounds to exchange for one real reversal trend is completely worth it!
Over time, you will find that trading really requires you to overcome your own barriers and unlock your own insights.
For those of you who are fluctuating back and forth here, you are likely to be right; but if you make a mistake, you are more likely to fall into a dilemma. Then you will get caught in a cycle of frequently opening positions, frequently stopping losses, getting anxious, over-leveraging, and going all in, ultimately ending the game.
In the crypto industry, if you want to seize the next bull market opportunity, you need to have a quality circle. Everyone can huddle together for warmth and maintain insight. If you are alone, looking around and finding no one, it is actually very difficult to persist in this industry.
If you want to huddle for warmth or have doubts, feel free to join us—WeChat public account: You Bi Zhi Qing Nian.
Thank you for reading. If you like it, please give a thumbs up and follow us. See you next time!
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