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Regarding the technical analysis of BTC, there are currently two possible hypotheses: The first is that we are now in the stage of red line 4, and after the completion of red line 4, we will enter red line 5 and then undergo a correction against the red line; the second is to assume that red line 4 has been completed, and the market is now moving along red line 5, and has already started to oscillate upwards, gradually forming new highs.
The current trend is somewhat similar to the trend in November and December 2023, mainly manifested in the market consolidating strongly along the upper track of the triangle, as if it is repairing some technical indicators and maintaining a certain consolidation space.
Regarding Altcoins:
In the face of uncertain BTC trends, the performance of Altcoins has also caused anxiety. Buy Altcoins, worried that BTC will correct, Altcoins may collapse; don't buy Altcoins, afraid of missing the opportunity. Currently, the secondary old Altcoins have basically completed the process of taking out the principal and closing positions, and some have already started to gradually rebuild their positions. Now we need to closely monitor the BTC dominance (BTCD) indicator. If it breaks below the green line and continues to intertwine, it may usher in the season of Altcoins.
However, the rebound strength of large-cap coins such as DOGE, XRP, and ADA is relatively weak, and Ethereum and BNB have also failed to keep up with the rise of BTC, so their performance is relatively weak. Small-cap coins also lack effective support in the current market environment. If you didn't participate in the market's rise a few days ago, rashly chasing the rise (FOMO) may bring greater risks, and you may often end up losing.
Currently, the new MEME coins at the top are still the most worth watching, and may be the main force in this round of the market. And in the case of limited liquidity, market funds will be overly concentrated on these popular top-tier coins.
Through the recent performance of the meme market, I have summarized the following several directions of meme explosiveness for your reference:
1.BTFTD - This coin is not just another Meme coin, but a revolution. It has a well-planned pre-sale structure, a Telegram-based play-to-earn (P2E) game, and a staking model that offers up to 90% APY, combining community participation and actual utility. Due to its early pricing and huge growth potential, analysts have dubbed it the next 1000x cryptocurrency.
2.Shiba Inu (SHIB) - It is still a household name in the Meme coin realm. Shiba Inu is often referred to as the "Dogecoin killer", and it achieved astronomical growth in its early days, turning small investments into life-changing wealth. As the Shiba ecosystem continues to expand through ShibaSwap and Shibarium, the project has proven that it is more than just a Meme coin.
3.Dogecoin (DOGE) - The original Meme coin Dogecoin sparked the rise of the entire crypto meme faction. With an enthusiastic community and occasional support from Elon Musk, Dogecoin remains a major currency in the crypto market. While its growth may not be as parabolic as new tokens, its longevity and widespread adoption make it a reliable investment.
4.Dogwifhat (WIF) -Brought a humorous element to the meme coin trend, with a dog wearing various hats as its mascot. Although its name may seem silly, the project has serious ambitions. Dogwifhat focuses on gamification, providing NFT and interactive experiences for its holders.
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