The market sentiment is high, with a strong breakthrough, approaching a new high, and is only 200 points away from breaking through the new high level!
It surged to 73,600 last night but failed to break through, and has now fallen back to around 72,200. You don't need to worry about the pullback, and you don't need to blindly guess the top, just wait patiently! If there is a chance of a plunge later, decisively add more positions.
In this round of rise, the breakthrough of BTC is inevitable, and it was just a hair's breadth away from breaking through last night. The historical pressure at the new high is still huge, but if it breaks through and stands firm, the overall secondary market trend will come.
As I said before, there is a very high probability that a new high will be achieved this week, and the breakthrough is really not far away now. As long as this breakthrough occurs, the market confidence will be rekindled, and then the upward trend will truly begin.
It is often said: the bears don't die, and the bulls don't stop.
I observed the market this morning and found that many traders are still shorting, hoping for a BTC pullback.
I judge that: The current BTC market will not end so easily, and the upward trend is still obvious. There is no need to worry now, and continue to adopt the strategy of buying on dips.
The spot market is now at a turning point, and to be honest, no one dares to determine it, although I firmly believe that there will be an altcoin market.
At this moment, we don't need to FOMO, just hold what we have now. Remember, never go all-in at any time, the more you FOMO, the more you need to pay attention to safety!
Especially for contract leverage players, sharp drops are normal in a big market, and altcoins can fluctuate up and down by tens of points, don't let yourself get wiped out in a good market trend.
The big non-farm payroll data will be released this Friday, and the current market expects the Fed to cut rates by 25 basis points in both November and December, with the probability of no rate cut in November close to 0, and the path of subsequent easing has also increased;
However, in the end, the non-farm payroll will be the final say, waiting for the big bomb on Friday.
Compared to the satisfaction of BTC, the only thing that makes people angry is ETH:
In this round, whether it's Meme, Ai, Rwa, DeFi, or Depin, SOL has the upper hand over ETH, and the trend is even crushing.
This round of ETH performance is too disappointing, when BTC was over 70,000 in the last round, ETH was around 3,800, and now it is still stuck around 2,600, ETH is not moving, and altcoins are not rising either, and most of the spot holders are still trapped.
The joke that everyone is talking about now is that BTC and ETH are both $2,000 away from their historical highs, with BTC's previous high at $73,777 and the current price above $72,000, while ETH's previous high was $4,868 and the current price is $2,620, which means that ETH has underperformed BTC by 100% during this period.
Compared to BTC, ETH is indeed very disappointing, and is currently in a triangular consolidation trend.
If it can break out of this consolidation in the future, it may have a strong wave, but if it still can't gain strength after breaking out of the consolidation, then it's really worth considering whether to play ETH anymore!
Finally, about the altcoin market:
As expected, MEME is still the king of the market.
The ones that have been following the overall market the most strongly are still the leaders in various MEME sub-sectors, such as the leader of AI MEME Goat, Doge that Musk keeps milking, MAGA which is the biggest beneficiary of Trump's trading, the cult concept leader Spx Harry Potter, the Sotheby's + art concept leader Ban, as well as various cats, dogs, and frogs, with an average rebound of around 20%. Most altcoins are actually just following the rising market, with little trading volume, only the front-runners in the sub-sectors have shown trends clearly stronger than the overall market.
Of course, if BTC can firmly stand above $70,000 for more than a week, then our familiar altcoin bull market will definitely start, so let's wait and see!
The altcoin market may be late, but it will come, so be patient.
That's it for the article, if you like it, please give a follow and a like~
The new discussion group has already been built! Now I'm preparing to reorganize the discussion group, and as long as the overall market returns to an upward trend, there will be many opportunities for altcoins to explode. If you want to join the group, feel free to send me a private message, and I'll add you one by one!
Creating a password welfare group! (I plan to find some low-cap coins with news catalysts in the near future to help everyone recover their losses, as the altcoin season is about to arrive, I will bring everyone the chance to double their money on altcoins! The next password will be announced in the welfare group!!)
Number of people: Temporarily limited to 50, mainly spot trading
Additionally, we also have a VIP paid group (spot) for those who want to join the VIP group, you're also welcome to add me to learn more!
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