Bitcoin plunged with the release of CPI last night, but fell below $60,000 in the short term. It retreated after finding support near 58,000. Although it received support, it looked very weak from the market perspective. This weakness is expected to continue for a few days.
Although the market is weak, the ecosystem has clearly strengthened, including various rune DOGs, etc. After a few days of observation, it is obvious that the runes are operated by dealers, and the intention to raise gas is obvious. You can continue to pay attention and observe.
(If you hold on to the previous cost until now, you will also have a 30% profit. If the hype is good in the future, you may see it double!)
The area around 58,000 below Bitcoin is a very critical position. Judging from the trading volume, there is a trend of enlargement. However, the K-line pattern closes with a long lower shadow, so it is suitable to wait and see! Let's see if there is a second retracement today!
The A-share market is unstable, and CFX has also started a continuous correction, falling nearly 30 percentage points from its high point. However, looking back at the previous rise, it has increased fivefold from its low point in three months, with continuous expansion and contraction in volume. At present, CFX has not yet experienced the previous large-volume market. Therefore, continue to hold it. As long as the A-share market rises and the B-circle bull market can emerge before the end of the year, this standard is still relatively certain, but the volatility will be much greater. Therefore, this type of project is suitable for spot trading, but not for leverage, and is a series of small-scale big-win projects!
Last night, CPI was negative, and expectations for a rate cut in November have cooled. The negative news is currently being digested in advance. Bitcoin has been falling in large volume, and it is falling with blood. Don't go long, it is not the time yet. The market seems abnormal and no longer follows the trend of Nasdaq. It may be that the dealer may have changed, the gameplay has been updated, and some new tricks have been introduced.
It will definitely fall further. If Bitcoin fails to close above 61,600 today, it will continue to hit new lows and keep looking for support. At present, the market is weak and cannot recover to yesterday's intraday high. In the short term, high-short is the main trend and low-long is the auxiliary trend. Avoid heavy positions in long orders and close them while connecting.
Before BTC rises sharply, it will poke a needle downward as usual. The deeper the needle, the higher the future rise, like the needle trend after 3.12 and 5.19. It is currently in the stage of consolidation in the middle of the decline or confusing retail investors. This callback still provides a chance to buy the bottom, but ETH and SOL are more elastic. The depth of the retracement last night was smaller than BTC. Therefore, these two coins can only be bought at low prices, or a small amount of high-altitude hedging can be added to the icing on the cake. Resistance and support points from today to next Monday:
BTC: Support: 58888 (already reached once, weak support), 58250; Resistance: 60300 (this morning), 60800-61200.
ETH: Support: 2330, 2318; Resistance: 2396, 2420. If it rebounds or closes below 2372 during the day, 2282 can be considered in advance.
sol: Support: 134.25-131.65; Resistance: 139.50, 141.25. There is no need to reopen a short position below 138 as it is easy to be trapped.
Musk changed his profile picture today.
robot...There are too many Meme tokens, it is really dazzling. This one is the one that came out of this concept, you can check it out for yourself.
But remember that Musk often changes his profile picture and signature! Hot topics are hot topics, and people just hype them up and leave. Don't blindly believe in them. Newcomers who are just starting to play on the chain should try not to play PVP. But if you say "I just want to learn from the loss", then please do as you please.
I always recommend short-term swing trading! Swing trading will only increase the amount of coins or U in our hands! If you want to join me, you can contact me privately.
At present, the funds/traffic/attention of the entire market are all flowing in both directions with Meme tokens. The CTO concept is very popular, Hippo (Moodeng), Mars City (TERMINUS), Musk's (Robotaxi), and today Musk has pinned it and changed his avatar. It seems that another big golden dog is coming, robot... There are too many Meme tokens, which can be said to be dazzling. So how can you make money by playing meme?
First: Buy the exchange’s confirmed pull meme
For newcomers who have not been on the chain for many years, it is best to buy some exchanges’ confirmed pull-up memes. As long as the market is good, they will definitely pull up the market, and most of them can outperform Bitcoin and Ethereum. But don’t even think about a hundred times increase, because the market value is basically the same as that of Binance, with a market value of 100 to 1 billion. Or you can go to BG to buy some memes from communities that are not listed on Binance.
Second, don't go to pvp
Don’t play PVP when you come to Chainlink, you are all liquidity. Meme has various internal markets, such as Sol’s pump, but there are very few gold dogs that come out. But those who come out are awesome. Their cost is much lower than yours, and there are many hot spots every day. Whoever posts a message will have a lot of hype. And the volatility is large, it may drop by 80% when you buy it, and it will rise 10 times the next day when you sell it. But there are very few, and there is basically no one like Zoo that has returned to zero and revived. They are all special forces here.
Third, play with projects that have strong community consensus, low market capitalization, and are in the early stages.
You can't invest too much. You should try to make a small investment and grow with the community. You should think that you are a retail investor. If you buy too many chips and hold them tightly, how can you pull the market up? Buy some money you can afford to lose, participate in community building, become a diamond hand, and witness the birth of miracles. If you succeed, you will get a hundred times the profit. If you fail, you can afford to lose. This is the meme.
If you have a large position in the exchange, you don't have to listen to the short-term experts' nonsense when the bull market is good. You can only hold it if the pressure level today will fall tomorrow. You don't have time to watch the market. Recently, the chain is really making money. New coins, but they run fast. It's comfortable for special forces. Those who lose money are some newcomers or those who didn't play before and come to join in the fun and give money.
A friend asked me about PIZZA yesterday. Although the price has fallen, the market maker is still there, instead of running away.
In about 1-2 weeks, PIZZA will explode with amazing energy. Which coin is not close to zero before the big explosion? Which coin has retail investors washed out to death before the big explosion? If retail investors are smiling during the big wash, then the storm has not come yet. Look at the picture below. Although I only put 4 comparison pictures, it is not very convincing. How UNISAT sent SATS to Binance, it will send PIZZA to Binance in the same way. Not only does the degree of control of PIZZA by the market maker exceed 80%, but the probability of listing on Binance is also over 80%.
Why are wif and pepe the first choice for bargain hunting after a big drop?
Let's talk about Wif first
The SOL chain has produced many billion-level memes this year, especially Bome, which was listed on AnAn in just three days and made a small number of people rich.
Bonk is one of the earlier ones, it was posted very early, and relatively speaking it is an old meme on Sol.
If we choose from the perspective of hyping the new rather than the old, then the meme under the sol chain is the first new one, bome, followed by wif and finally bonk.
But if we look at the market value, WIF is over 2 billion, bonk is over 1 billion, and Bome is over 400 million. I am personally conservative and prefer large market value.
Judging from the number of holders of the address and the number of profitable shares, Bome had more profits and held more in the early stage, while WIF did not have as large holdings and profitable shares as Bome and Bonk in the last round.
Taking the three into consideration, WIF is better.
Therefore, this is the reason why we have been emphasizing that WIF should be configured when a big drop occurs.
Talking about pepe
Pepe is one of the meme concepts that has a consensus and a huge overseas community. Here we are talking about those listed on exchanges (not local dogs on the chain).
Pepe is the low-chip stock we got at the end of last year. It was bought at a price starting with six zeros and 1. There is still 9 times of room for growth if we hold it until now. Of course, we have almost taken out most of the profits, and only 2-3 times of profits are left to continue gambling.
In fact, if you want to step on the concept of ambush meme 10 times, it depends on whether you can hold on and stick to it. The second thing is the technique:
If you withdraw your principal in time when it doubles, and use the profit to gamble, you will be more likely to hold on. The second thing is to see whether there is market hype or not. At that time, Pepe's road to tenfold increase was that institutions and market funds were all buying Pepe at the bottom, and Pepe's previous bottom chip address was exposed. This was actually adding heat to Pepe and making people in the market pay attention to Pepe. Since the heat, institutions have supported it, and the continuous consensus of foreign communities has also created Pepe's 10-fold road!
Promising potential targets
$ENS
V God is optimistic about a currency, and has publicly supported ENS many times, and the trend is very good. The price is at a low level and is near the strong support line. There are signs of stopping the decline and rebounding.
Therefore, you can buy at the current price of 16.5-16 and take a gamble, leaving a position for covering a position (15.5u for covering a position), and the defense line is 15u. If the prediction is correct, the profit will be very good. It is a currency with a high cost-effectiveness!
$LPT
The AI track is the biggest narrative in this cycle. Musk is also vigorously developing AI. At the same time, LPT is also the project with the lowest market value in Grayscale AI Fund. Grayscale has always been the market maker of LPT, and its potential in the later stage is very large.
$FTM
This target cannot be viewed in a short-term way. The chips are fully circulated and it is currently undergoing a new upgrade. It is fully compatible with EVM. All rewards are for developers. There are several highlights that are likely to gain more hype at the narrative level.
AC in the FTM team, in short, is the leader of DeFi and is known as DeFi Satoshi, and DeFi has a sense of restart.
Yesterday, Uniswap (UNI) suddenly gained momentum and reached $8.
Uniswap has launched a new Unichain! Simply put, Unichain = Uni + Chain. Uni stands for Uniswap, and Chain means "chain".
This chain is not an ordinary chain, it is an Ethereum second-layer network built based on Optimism superchain technology. So why is Uniswap's chain so different from other projects?
Looking at the Ethereum layer 1 gas fee income list, Uniswap is ranked first and fourth, accounting for nearly 18% of the total share, almost one-fifth. This is not a coincidence.
A simple estimate is that Ethereum’s gas fee revenue is about $3 billion a year, and one-fifth of that is $600 million.
Moreover, this does not include the revenue brought by Uniswap on other sidechains and second-layer chains. Conservative estimates put Uniswap's annual revenue potential at $1 billion!
If these revenues were transferred to Unichain, it would represent a potential revenue cap of $1 billion.
Although as a second-layer chain, the Gas Fee is lower, the surge in usage will make up for this gap and release huge profit space. Even if the annual income is hundreds of millions of dollars, it is enough for UNI stakers and node validators to happily share the profits.
I think this is the biggest confidence of Uniswap to create its own second-layer chain unichain.
“Unichain solves some of the most pressing challenges facing Ethereum transactions around Rollup scaling strategies, especially fragmented liquidity and inefficient cross-chain interactions.
By introducing innovative technologies such as Flashblocks, the Unichain Verification Network, and integrating with Hyperchain, Unichain aims to become the hub for DeFi liquidity and the best platform for accessing DeFi on Rollup.”
Wish it success.
