Morning Analysis - The altcoin sector is collectively rotating, will the market continue to explode or is this the final song of the bulls?

CN
3 days ago

Tracking real-time hotspots in the cryptocurrency market and seizing the best trading opportunities. Today is Sunday, November 24, 2024. I am Wang Yibo! Good morning to all crypto friends ☀️ Hardcore fans check in 👍 Like to make big profits 🍗🍗🌹🌹

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Bitcoin is consolidating before breaking through $100,000, while Ethereum's strong rally tests $3,500, prompting a robust upward trend in the altcoin market. The rotation rhythm between various sectors has accelerated, especially as older coins have broken out of a long period of stagnation. Established coins like LTC, ETC, and BCH are showing strong upward momentum. Bottom-fishing during sharp declines and capturing sector rotations can yield stable profits in the early to mid stages of a bull market. Occasionally, the market experiences sharp drops, and seizing the opportunity to buy the dip often leads to gains. Additionally, sector rotations should not be underestimated; when the market starts, various sectors rise in an orderly manner, and those that haven't risen will eventually catch up. However, such good opportunities do not occur frequently!

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After several days of continuous upward movement, Bitcoin has finally seen a pullback today, returning to the first support level near $97,200 (the entry point for long positions discussed in the live stream). It is currently oscillating around $98,000. From a technical perspective, while the decline has some strength, it is merely a short-term impact and does not affect the trend reversal. The bulls still maintain their stance, albeit without strong momentum. Do not chase short positions; during this oscillation, a proper pullback is an opportunity to go long. The early session until tomorrow morning is a critical period for the trend. Whether it can break the $100,000 mark depends on the key level around $99,000. We will also look at the 4-hour closing situation; if it closes above this level, we can continue to target $99,650 to $100,000+. Conversely, if it closes below, pay attention to the downside around $98,000 to $97,200.

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Ethereum also changed its previous lackluster state yesterday, rising to $3,350 in the morning and then consolidating without dropping below $3,310. In the evening, it finally exceeded the high of $3,450, returning to around $3,500 for a pullback, which coincidentally tested the support at $3,380. It is currently oscillating around $3,430. In the early session, pay attention to the hourly closing situation around $3,450. The upper resistance levels are $3,550 to $3,580, while the lower pullback support is around $3,400 to $3,360 (as long as the second support is not broken, the bullish trend remains strong).

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However, while speculating on older coins, do not overlook the upcoming shift in focus to new coins and the meme sector. Yibo has summarized some secondary market strategies that effectively exploit retail investors, along with real-time market analysis and operational strategy suggestions for narrative-driven coins. For more details, follow the updates and live stream shares!

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In this market, it ultimately comes down to ability. If your ability is insufficient, the market will eventually take back what it has given you. Therefore, when your wealth exceeds your ability, you need to control your drawdowns. Although this control may seem futile, that kind of arrogance and hubris from profits will ultimately destroy a person's rationality. However, we need not worry about our wealth being less than our ability in the capital market, as this imbalance will eventually be corrected by time. If it has not been corrected, there is only one reason: your ability is insufficient. If you are still in a state of confusion, not understanding the technology, unable to read the market, unsure when to enter, unable to set stop losses, not knowing when to take profits, randomly increasing positions, getting stuck while bottom-fishing, unable to hold onto profits during volatility, and missing out when the market moves, these are common issues among retail investors. But it’s okay; come to me, and I will guide you on the correct trading mindset. A single profitable trade speaks louder than a thousand words. Instead of repeatedly facing losses, come find Yibo! Frequent operations are not as good as precise trades; let each trade be valuable. What you need to do is find Yibo, and what we need to do is prove that our words are not empty. 24-hour real-time guidance; market fluctuations are relatively fast. Due to the effectiveness of the review, the subsequent market trends will primarily rely on real-time setups. For friends needing contract guidance, you can scan the QR code at the bottom of the article to add my public account.

Disclaimer: This article only represents the author's personal views and does not represent the position or views of this platform. This article is for informational sharing only and does not constitute advice to any person.

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