Cryptocurrency News

November 12 Highlights:

1. Coinbase launches a new token sale model, allowing U.S. retail investors to participate for the first time since 2018.

2. Canary submits the 8-A form for the first spot XRP ETF.

3. U.S. prosecutors seek to retry the $25 million theft case involving a recent MIT graduate next year.

4. An address suspected to belong to BitMine received 24,000 ETH from Galaxy Digital.

5. U.S. House Democratic leaders: will oppose temporary funding bill without Affordable Care Act subsidies.

Trading Insights

A Comprehensive Analysis of the 8 Stages of Bottom Fishing in Cryptocurrency: Which Stage Are We Currently In?

1. First Stage: Confidence Boom Period - The atmosphere in the group is enthusiastic, everyone is full of confidence, making grand plans, and actively promoting daily, all believing they are "doing great things."

2. Second Stage: Confidence Weakening Period - Cryptocurrency prices enter a sideways trend, with price increases stagnating, and confidence in the group declines, though some still push for promotions, not completely giving up hope.

3. Third Stage: Initial Bottom Fishing Period - Prices begin to drop, with most believing it is a "buying opportunity," leading to increased positions and active bottom fishing.

4. Fourth Stage: Weak Bottom Fishing Period - Prices continue to decline, earlier bottom fishing funds are exhausted, and enthusiasm for promotion significantly cools down.

5. Fifth Stage: Negative Outburst Period - Negative emotions spread within the group, with voices of blame and insults directed at the project team, and dissatisfaction is concentratedly released.

6. Sixth Stage: No One Cares Period - Almost zero communication in the group, insults disappear—most have cut losses and are no longer concerned about project developments.

7. Seventh Stage: Faith Shattered Period - Prices continue to oscillate at low levels, eroding the last remaining faith of retail investors, with some being forced to cut losses.

8. Eighth Stage: Recovery and Takeoff Period - The market begins to recover, with market makers testing the waters (making a strong pull) to observe retail investor reactions; after repeated testing, retail investors dare not chase the rise, and market makers initiate a real upward trend.

Key Question: Which stage are we currently in?

This needs to be assessed based on the specific cryptocurrency's price trend (whether it is in a low-level sideways trend or continuously declining), community activity (volume of communication/emotions), and retail investor behavior (whether they are still bottom fishing or have exited).

Comprehensive Judgment:

1. If there are still insults in the community and some are observing, it is likely in the 5th-6th stage.
2. If it is in a low-level sideways trend and the community is silent, it may be in the 7th stage.
3. If there is a test pull-up and retail investors dare not chase, it may have entered the early 8th stage.

LIFE IS LIKE

A JOURNEY ▲

Below are the actual trading signals from the Big White Community this week. Congratulations to those who followed along; if your trades are not going well, you can come and test the waters.

Data is real, and each trade has a screenshot from the time it was sent.

**Search for the public account: *Big White Talks About Currency*

BTC

Analysis

Bitcoin has closed three consecutive weeks in the red, with increased selling volume, breaking below the lower Bollinger Band. If it cannot return to the $108,500 neckline, the downtrend may continue. On the daily chart, yesterday's large bearish candle with an upper shadow indicates a failed bullish counterattack; the current resistance for a rebound is at $105,500 (FVG gap and middle band pressure). If this position cannot be effectively reclaimed, it may continue to follow a downward flag pattern along the trend line. For short-term analysis, focus on the 4-hour chart for potential opportunities.

In the short term, on the 4-hour level, it has broken below the middle band of the channel and is currently at the lower band position (also retracing the descending trend line), temporarily stabilizing without breaking down, continuing to operate within an upward channel. The rebound should focus on the middle band pressure around $105,500, with the next pressure point around $108,500 (upper band).

If it breaks below the lower band around $102,500, it may follow a downward flag pattern.

In terms of indicators, MACD and RSI show a dead cross pointing to a minor level correction.

Trading Strategy: Maintain a bearish outlook on a larger scale, continue to pursue short positions in batches at resistance levels, and set stop losses on breakouts.

ETH

Analysis

This morning, Bessent announced the compliance of cryptocurrency spot ETF staking, which is also a stimulus for market sentiment and liquidity. This feature has been loosening for several months but has only been finalized today. Although the feature is now in place, the rules may still take some time to finalize. However, it is expected that we will likely see the launch of ETH and SOL spot ETF staking functions within the year.

Ethereum broke below $3,500 last night, and it is expected to enter a volatile market in the short term, with a bearish overall direction, focusing on short positions.

Disclaimer: The above content is personal opinion and for reference only! It does not constitute specific trading advice and does not bear legal responsibility. Market conditions change rapidly, and the article may have a certain lag. If you have any questions, feel free to consult.

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