After Bitcoin retreated to 62,500, it rose straight to 66,500, setting a new high in recent times. Ethereum also rose from around 2,440 to around 2,650. This wave of counterattack also indicates that the bulls have taken the lead. If the predictions of the previous two days were technically bullish, then the current large-scale pull-up is a confirmation of the prediction! Since the market has come out, we can just follow the trend. Don't move the spot positions randomly. There will be a rotation effect in the rise.
Bitcoin currently only has trend pressure near 68,000. It would be healthier if it adjusts near 65,000 and then attacks upward again. In a strong case, it can get support near 65,500 and then attack 68,000 and then fall back. The ideal situation is to fall back to 64,500 to get support and then attack 68,000 again. You can pay attention to the opportunity to enter the copycat position again near the trend line!
When the market is rising, you think it may double tomorrow. When the market is falling, you think it may collapse at any time. Abandon subjective judgment, start from the perspective of technology and K-line, and find the signal that suits you to enter the market! Be modest and prudent, ignore short-term fluctuations in medium and long-term positions, learn to wait when there is no opportunity, and participate decisively when there is an opportunity!
The short-term situation is clear, and the trend reversal needs further confirmation, that is, the big cake breaks through 68,000 and stabilizes at 70,000. Take it one step at a time! The trend is developing in a good direction, and the reversal needs time to brew. Be patient and hold the varieties you are optimistic about, and wait for the trend to come!
Two potential positives for the cryptocurrency market in November:
1- Election: On November 5, the election will be decided, and Trump is expected to be re-elected.
2- There are still 24 days until the Federal Reserve’s interest rate meeting. Judging from the current data, the probability of the Federal Reserve cutting interest rates by 25 basis points in November is 88.5%. There is a high probability that there will be two more interest rate cuts this year, which is good for the cryptocurrency circle. It is only a matter of time before Bitcoin breaks through 75,000 and sets a new historical high.
At the beginning of the big market, here are some advices:
1. Give priority to individual targets with bottom oscillation, clear accumulation structure, and large-scale pulling up. They will be the first to come out. Don't jump out of the stock market just because you see that other targets you hold are not rising. You may end up with nothing.
2. Don’t care about the cost, don’t be too concerned about the comparison and price, and define whether it is expensive or cheap.
If you are still short, you need to pay attention to these hot spots in the market:
1. Meme coin field:
Neiro is currently leading the rise and is the leader in this wave of Meme trend, with BN big dealer and strong community support behind it. This kind of project often relies on the promotion of emotions and capital.
2. AI sector:
Projects such as TAO, ARKM, AR, NEAR, and AIT are rising rapidly, especially after presidential candidate Harris announced that she would vigorously develop AI. Policy support is often the key to the outbreak of technology sector projects, and this wave of AI projects is worth in-depth study.
3. Modular Project TIA:
Currently, there is a big short squeeze, and the TIA Foundation has also conducted a half-price OTC transaction of $100 million. Next month, there will be a large-scale unlocking, and the market generally expects that the market will pull up before the unlocking. In addition, TIA's short-selling fee rate is as high as -160%, which shows that the market short-selling sentiment is very strong, and it is worth observing this wave of pull-up.
4. On-chain Meme Project Terminus:
Backed by Musk's Mars narrative, it soared 2,000 times in a week, and with the support of bigwigs such as Li Ping, many local communities are actively spreading it. The nature of Meme coins determines that they can attract a large amount of speculative funds, especially in the context of market fluctuations, speculative funds begin to concentrate on these projects on the chain.
