The daily line is a long bearish candlestick with a long lower shadow, and the trading volume is more than three times that of the previous day, indicating a significant decline.
The rapid decline on the hourly level reached strong support at the daily MA30 line, quickly rebounding and forming a bearish candlestick with a long lower shadow, indicating that the bulls are trying to fight back, but ultimately the bears maintained the advantage.
The daily line level will continue to fluctuate widely, without a sharp drop, moving in a trend of oscillation and consolidation.
Bitcoin's rapid decline on the hourly level has led to a quick drop in altcoins; Bitcoin's fluctuation was less than 7%, while altcoins generally exceeded 30%, causing many people's leveraged positions to be directly liquidated.
The focus remains on altcoins; the second wave of the altcoin market will start shortly after this flash crash, buying altcoin spots on dips.
Next, if buying the dip, you should choose two timing options:
- If Ethereum breaks through 3800 and stabilizes, then altcoins can be bought at the dip.
- If Ethereum tests the bottom again (not counting the previous second spike) and breaks below 3600 on low volume, you can buy Ethereum or altcoins in batches.
When the market is neither up nor down, just lay flat and do nothing. Flash crashes like today's, with no reason, are standard in a bull market; it's better to finish the plunge quickly than to be half-dead.
For most friends, Dog Brother advises never to touch high leverage:
In the last 24 hours, a total of 582,486 people were liquidated, with a total liquidation amount of $1.751 billion.
I haven't seen such a large liquidation amount for a long time. During the bull market cycle, the risk of liquidation is very high, and everyone must be cautious.
Ordinary people do not need to, nor are they capable of, grasping it. What is most lacking in a bull market is opportunity, especially in spot trading, where substantial profits can still be made with very small risk exposure. High leverage, on the one hand, cannot withstand today's flash crash, and on the other hand, it easily amplifies your greed and other negative emotions. Really, don't touch it; don't lose your principal in a hard-earned bull market!
Dog Brother recommends these tokens to consider when the dip-buying opportunities arise:
» Clearpool ($CPOOL)
Market capitalization: $325 million
24-hour trading volume: $21.96 million
One of the most promising projects in the RWA space, backed by tier-one venture capital firms and funded by Mantle.
Clearpool is basically a lending platform, similar to AAVE or Maker DAO+
CPOOL combines with Flare Network to expand its territory to seven different chains like $MANTLE and $OP, and created a new stablecoin $USDX.
The project has performed excellently, with long-term price accumulation being good, currently in an incredible phase.
Up 657% this year.
» Baby Doge Coin ($BABYDOGE)
Market capitalization: $936 million
24-hour trading volume: $672 million
BabyDoge is a fork of Dogecoin, launched on June 1, 2021.
BABYDOGE has recently also abandoned their token contract on Solana. The meme coin, originally launched on the BNB chain, has now also expanded to the Solana network.
In late November, Binance also announced the new spot listing for BABYDOGE.
This currency is issued on the Binance Smart Chain. In addition to a deflationary destruction mechanism, it also collaborates with the stray dog charity group Paws with Cause, dedicated to helping dogs around the world find homes.
Recently, the surge of BABYDOGE in the turbulent market conditions is mainly attributed to Musk's tweets and the overall development of their team.
» Eigenlayer ($EIGEN)
Market capitalization: $1.09 billion
24-hour trading volume: $496 million
EigenLayer (EIGEN) has recently shown strong recovery momentum as investors capitalized on the momentum following the October airdrop.
After the founder announced a renewed focus on Web3 applications, the token hit a high of $3.86, the highest level since early October.
Despite recent hacker attacks leading to the loss of over 1.6 million tokens (worth approximately $6.8 million), the recovery situation has been stable.
At the same time, EigenLayer has recently launched new re-staking options for Bitcoin and Ethereum holders to increase yield potential by packaging Bitcoin.
As part of this update, the main validator on the network, P2P.org, is now paying users. This new option allows BTC and ETH holders to perform a second round of asset staking, thus creating more income opportunities for the platform.
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