Bitcoin has once again shown strong momentum yesterday. I believe the Bitcoin pullback has ended and it is launching an attack on the $100,000 target! Although there are only two days left in November, this month may still break through $100,000. However, the focus today is not on Bitcoin, but on Ethereum. Yesterday, Ethereum's performance surpassed Bitcoin, with a significant price increase, and the exchange rate of Ethereum relative to Bitcoin also rose.
Next, let's talk about some situations that clearly show a bullish trend. Based on past experience, major bull markets usually start about six months after a Bitcoin halving, which means this round of bull market officially started in October this year, and this is just the beginning. On January 20th next year, the former president will take office and is expected to implement a series of policies favorable to the crypto industry, fulfilling his previous promises. In the first half of next year, the US will continue to cut interest rates, and funds will reach the trillion-dollar level, so the bull market is likely to last at least until the second half of next year, or even longer if institutions and large capital continue to drive it. What you need to do next is to choose the right track and targets, and don't worry too much. The former second-tier coin has now risen, and those who were bearish on it have disappeared. For us small retail investors, the key is to believe in the overall market trend and follow the trend to gain profits. Let's continue with today's daily BTC market analysis. From the K-line chart, the 1-hour level shows a sideways upward trend, the 4-hour level is slightly bullish, the 12-hour level is rebounding, and the daily level is slightly bearish. The intraday resistance level is $98,100, and the support level is $92,400.
Recently, the competition in the field of artificial intelligence has been unusually fierce, and various new cryptocurrencies have emerged one after another, especially the meme coins on the Solana platform, whose popularity has risen sharply. At the same time, the ecosystem of the Base platform has also begun to show its potential, with the continuous emergence of new projects and tokens, making the market active, as if entering a bull market frenzy. Against this backdrop, Rps surged in market value to $480M, a 500-fold increase, in just five hours yesterday. And after the glitch incident, Mona's coin price rebounded quickly after the clarification, reaching a high of $26M, a 130-fold increase from the lowest point. The meme coin explosion season is getting closer! Which tracks are bound to be hyped?
1: MEME track
The newly born bonk and wif at the end of 23 reached new highs in the early 24, and the old meme projects like pepe and shib also had good gains. So for the MEME track, the focus should be on the new meme projects that have been listed on exchanges like Binance, which will likely continue to be hyped based on historical experience, as market makers need to make money through market hype. Of course, the old meme coins also have opportunities, but the specific position allocation needs to be reasonably distributed, and the distinction between long-term and short-term trading should be maintained! Next, if the market continues to FOMO, new memes may continue to emerge on major exchanges, and I hope everyone can get their share of the profits!
2: AI track
The AI sector bottomed out in 2022 and started a major upward wave in early 23, which has continued until now. Remember that wave in early 23? Crypto projects related to AI have all seen significant increases, and the AI concept sector in the A-share market has also shown good performance. From the end of 23 to the beginning of 24, crypto projects related to AI like fet, as well as those tangentially related like wld and arkm, have seen good gains. And recently, the meme coins related to AI have been in a strong trend, so everyone should pay close attention and seize the opportunity. The AI track can also be combined with other sectors, such as AI+meme, AI+refining.
3: Public chain track
In each bull market cycle, the public chain sector has never been absent from the major upward waves, with sol, inj, tia, sui, sei and others seeing significant gains. Especially the new public chain projects that have been listed on exchanges like Binance in the last one or two years, such as the recent sui. As for the opportunities in old public chains, the typical representatives like inj and ada, the advice is still the same - don't chase the highs, as being trapped in the old mainstream after chasing the highs is a lesson learned the hard way in the four-year cycle.
The market has new tracks and new narratives, which are worth paying attention to. How to find them in the first time, I have mentioned in my previous articles, and you can also review them. As for other tracks like infrastructure, if you have extra positions, you can choose the leaders to configure, as choosing the leaders is basically a safe bet.
