Yesterday, Bitcoin surged to around 68,400. I thought that long positions in altcoins that followed its rising logic would be able to make steady profits, but I didn’t expect that Bitcoin would go crazy alone!
In the evening, Bitcoin formed a convergent triangle pattern in the short term. We need to pay attention to the small-level EMA moving average support. If it does not fall below, there is a chance to rise again. Once it falls below this wave, it will go to the 6.5w support. Xianxian’s opinion is that Bitcoin may adjust downward first and then continue to rise.
Eth: There is also a need for a correction at a small level. Because the second section is relatively simple, the fourth section is likely to take a complex form. That is, as mentioned earlier, it needs to go through a period of volatile market to digest the selling pressure. Therefore, the probability of a direct breakthrough is very small. Unless there is an impact from the news, there is a high probability that the small level will fall back before it starts to resume rising. Pay attention to the support of the 2560-2530 range below. Consider going long in this range to see if there is an opportunity!
October's market finally kicked off
Conclusion: We must put aside our personal prejudices and seize this round of Meme opportunities, otherwise we may miss out on wealth. This bull market was first led by fan coins, such as OG, CHZ, Santos and other coins that rose for several consecutive days, driving market sentiment. Subsequently, meme coins took over, and BOME, Turbo, Meme, People and others began to charge, and the market entered the FOMO stage.
At the same time, the blockchain gaming sector is also ready to move, with Pixel, Portal, Not and other currencies ready to make a move. Turbo, BOME, MYRO and other currencies have already taken off, and more are expected to follow. If there is a good new currency deterioration, first deploy new coins, then consider old coins. Currently, 90% of the pull-ups are concentrated on new coins, and the market has just begun. It is expected that the market will wash out some people through fluctuations, and November will usher in a crazy bull market.
This round of bull market is a super cycle for Meme coins, and opportunities are everywhere
Judging from the market performance in the past month, BOME has doubled recently, PEPE has increased by 70%, WIF has doubled, and FLOKI is slightly behind at 55%. The growth rate at this stage should outperform most currencies.
These four coins can be used for low-end layout, and you can also buy some WIF in the short term
WIF is very suitable for swing trading, with fast rise and large retracement. Those with good skills should be able to make very good profits by keeping an eye on this coin. The latest stop profit is 3.2U. Entry point: 2-2.5 is fine. There is still room for three times after going online.
As for FLOKI, the increase is relatively small, the project team has been working hard, and there is an annualized return of 7% on Binance. The long-term holding and lying income is much better than WIF.
I won’t say much about BOME. Xianxian has always held a position in it, and he continued to add some BOME and neiro when it pulled back yesterday. This wave of MEME market has not ended yet. The most important thing is not to get washed out. Now we just have to wait for Bitcoin to reach 73,000. Within a week or two, the copycat will double. In addition, Xianxian also had other MEMEs that he was optimistic about yesterday, which can serve as a reference for all of you guys.
How to configure positions?
Based on the experience of multiple rounds of bull and bear markets, the following suggestions are summarized:
Allocate 50% of funds to BTC.
30% is allocated to ETH, SOL and BNB,
The remaining 20% can be invested in altcoins in popular tracks. Popular tracks include top Meme coins, AI-related projects, and BRC20 tokens. However, it should be noted that altcoins that have not yet been listed on Binance should be invested in a small amount.
Is there still a chance for the Inscription track?
Since 2022, the cryptocurrency circle has lacked major innovations, and BRC20 inscriptions have become one of the few innovative products. After more than half a year of shocks, there is still room for speculation in the inscription track, and another five-wave rise is expected. In particular, the three representative currencies of the inscription track: ORDI, SATS, and RATS are worth looking forward to.
A fan who has been following Xianxian’s official account for half a year sent me a private message asking me how I determined whether this was a reversal or a rebound!
I can't be absolutely sure whether this is a reversal or a rebound, but I only know that this is an opportunity. In the main uptrend of the bull market, using ten rebounds to deceive and exchange for a real reversal trend is completely worth it!
The group has been running for a long time. Although it is free, people are really dedicated in their output.
But after a long time you will find that trading really requires you to overcome your own hurdles and find your own way.
Friends who come and go here, you are very likely to be right; but if you make a mistake, you are more likely to fall into a dilemma. Then you fall into a cycle of frequent orders, frequent stop losses, over-investment, heavy positions, and all-in, and finally end the game.
Overall, this is just the beginning of the fourth quarter, and the real surge may occur between the end of November and December. The effect of the halving cycle is gradually emerging, and the Federal Reserve has begun to increase monetary easing. Coupled with the Halloween effect and the upcoming US election, the liquidity of the global market has further increased. The market at the beginning of the year was sideways for half a year, mainly due to the lack of liquidity. In the current environment, the strong market at the beginning of the year is likely to repeat itself.
