After the US announced the CPI data for November, the probability of the Federal Reserve cutting interest rates by 25 basis points in December has reached 98.6%. If there is another rate cut this month, it will undoubtedly increase market liquidity. This is good for the crypto space, and subsequently, both mainstream and altcoins are likely to have significant room for growth.
Brothers, the hardest part now is how to explain to your family that Bitcoin rose from 15,000 to 100,000, while you didn't make any money.
In the late night, Bitcoin fell with the US stocks, peaking at 102,500 before retreating below 100,000. 102,000 is a strong resistance level that needs a surge to break through in order to stabilize.
1. The market has already shown a small degree of upward momentum according to yesterday's judgment;
2. Staying above 97,400-98,400 is considered strong. If this is the first wave, then the subsequent surge will be more violent than this wave;
3. Personally, I believe Bitcoin doesn't need to rise violently; such a violent rise scares altcoins from increasing. It only needs to take small incremental steps upwards, giving altcoins an opportunity for distribution;
4. Those who say it's at the top can go check the market to see what kind of patterns and structures the altcoins are in. I don't believe that manipulators can distribute successfully in this kind of pattern.
On the macro level: I haven't seen any particularly noteworthy key points that could lead to changes.
Regarding the altcoin season: let's recall the movement of the BTCD indicator in the last bull market.
In the summer of 2020, DEFI SUMMER began, and the BTCD indicator started to decline slowly; it dropped from 70% to 57%;
The last drop before the bull market in early September, where mining coins collectively crashed, leading to a market correction;
After a month of adjustment, Bitcoin began an independent upward trend. The BTCD indicator rose continuously from early October 2020 to early January 2021 for three full months before starting to decline sharply;
Comparison chart of two bull markets:
I believe the biggest problem with altcoins right now is that there hasn't been a strong narrative, which I often refer to as the main storyline.
The current altcoin market has completed the first stage, filling in the gaps, pulling up all undervalued assets, and raising the overall market holding cost average;
The next phase will be the second stage, whether it's finding the main storyline or the bull market engine, there will be a group of altcoins leading the overall altcoin market forward, similar to the last round with UNI and DOT;
After the second stage is completed, there will be a third stage for the altcoin market, which will be crazy, like the zoo market of 2021, where everything skyrocketed;
And the only thing we need to do is to wait patiently.
Regarding SOL relative to Bitcoin, I personally feel that the market for SOL is clearer.
1. On a larger scale, the 12H---daily chart has adjusted very sufficiently; three significant spikes are worth trading;
2. The small-scale spot positions are already full, with small-scale support around 220;
3. As the blue-chip large coins in this bull market, we only need to consider
Is the capital behind 1 SOL still there (consider whether to do it), can 2 SOL outperform Bitcoin in the coming period;
4. However, I am personally focused on the candlestick patterns. In the event of unexpected incidents (black swans), the market may temporarily become ineffective, so one needs to pay attention to project news when dealing with altcoins.
The last 2 passwords:
The giant whale has entered the market in the early morning! Teda has issued another 1 billion USDT! This hot money is being quickly transferred to various exchanges by institutions, and it seems a new wave of buying is about to come! Institutions are really wild, issuing another 1 billion USDT today. It seems the second wave of the main upward trend is not far off, please be patient and wait with me!
1. Now looking at the market, Ethereum wants to rise while Bitcoin wants to fall. Looking at the 15-minute chart of Ethereum and Bitcoin, it's clear that capital has already flowed to Ethereum. Buy the dip on Ethereum, brothers!
Just to clarify: I'm not bearish on Bitcoin! Rather, I'm suggesting that short-term long positions should also learn from short positions by tightening stop losses or moving take profits. Prices may continue to rise to capture liquidity, but once it turns, there won't be a rebound to take profits;
2. The American Coinbase is about to launch pnut, and Squirrel is also rising within 24 hours, exceeding 30%. I remember I mentioned before that Squirrel will have another wave of popularity, so let's look forward to its performance after being listed on CB.
