Bitcoin is poised to break new highs!
BTC experienced a bearish candle followed by a bullish one over the weekend, and this morning it first targeted the high point of 69519. ETH slightly boosted the market's upward trend. Do not chase short-term trades anymore, as being overly focused on short-term movements can lead to significant losses in the likely upcoming major bullish wave, where "selling too early means losing out."
Since October 1st, the combination of interest rate cuts and the general environment of the elections has propelled BTC from 60,000 to nearly 70,000. MEME tokens are soaring, and most altcoins are nearing a bottom, marking the beginning of a new cycle. We still expect BTC to move towards new highs, which will present a series of trading opportunities.
As I mentioned before, Q4 will bring a super market. The recent movements of Bitcoin are evident to everyone, as the market is sprinting towards the 70,000 mark. When the moment of true breakthrough arrives, that’s when the market will truly perform. November, accompanied by the elections, interest rate cuts, and the liquidity soon to be released from FTX, will likely see the market become even more frenzied.
The fear and greed sentiment in the market is still increasing, with the total open positions of Bitcoin contracts across the network surpassing 40 billion USD, indicating a high level of market participation.
For friends without positions, there’s no need to chase the highs; pullbacks still present good entry opportunities.
Stay calm and do not miss out on the long-term bullish trend due to short-term fluctuations. At the same time, pay attention to position management to guard against risks from sudden market volatility.
Secondary Market:
From the perspective of altcoin accumulation structure, this round of altcoin market gains will not disappoint, although it’s hard to say this will be the most exaggerated one in history.
The accumulation period has been very long; in the past, altcoin accumulation took about a month, but this time it has generally taken 2 to 3 months. Not only has there been accumulation, but this round has also experienced extreme washouts. Looking back over the past year, it has been a tough journey.
Especially after the crash on August 5th, with such a large trading volume and a lack of liquidity, one can only wonder who picked up the chips?
Therefore, I have been telling everyone to hold on during this time; there will be an altcoin market, so hold on. Those who can endure are like those who have crawled out from a pile of corpses.
Most altcoins are waiting for Bitcoin to break new highs.
Currently, the ones starting up are public chains preparing for meme tokens, and the three meme tokens are also stirring: ordi, sats, rats.
In the past few days, the gaming sector has seen an overall surge, led by familiar tokens like AXS and YGG at the bottom, with decent gains.
The meme market will continue, but sectors will rotate. Currently, there are better performance opportunities on CEX, as altcoins are at the bottom. So everyone should actively adjust their strategies; when on-chain PVP is not working, return to CEX to see many cheap quality chips.
The spring of the crypto market is returning!
It has not been easy to hold on until now; the market has been in a six-month fluctuation, feeling quite surreal, but we are finally reaching the other side of the river—
Confidence determines everything; market sentiment drives the market, and market sentiment is the easiest to guide and influence. Do you think the market is driven by retail investors?
The rise is happening because it needs to rise; this bull market deserves to rise, and it’s only a matter of time. This is its ultimate reason. Understanding this reason is a thousand times more important than understanding all the chaotic analyses!
Many times, price changes have nothing to do with fundamentals; it’s just that someone is buying or someone is selling.
Why care about what others think? It’s essential to clarify your own thoughts and strategies to achieve great success!
Confucius said: The benevolent have no worries, the wise are not confused, and the brave are not afraid!
The difficult days are over; good days are just around the corner. When do you think Bitcoin will break new highs?
To seize the next wave of bull market opportunities in the crypto industry, you need a quality circle where everyone can support each other and maintain insight. If you are alone, looking around and finding no one, it’s actually very hard to persist in this industry.
If you want to band together for support or have questions, feel free to join us—WeChat Official Account: You Bi Zhi Qing Nian
Thank you for reading! If you liked it, please give a thumbs up and follow us. See you next time!
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