What does the Fed say? Whether or not to raise interest rates really depends on what it says. In the evening, Daley suddenly said that he did not consider stopping the interest rate increase at all, and the BTC shook directly downwards. This statement is consistent with what was emphasized in the last interest rate meeting: it will consider raising interest rates in due course depending on the specific data on inflation. It's simply the opposite. If it's not that there's something wrong with the cross-language translation, it's because they haven't gotten on the bus yet.
BTC:
The daily short-term support of the BTC is 37100 points, the strong support is 36600 points, and the pressure level is still 38000 points. There is currently no change in the daily long-term trend. The short-term trend is heading downward again after testing the pressure level of 38,000 points. It is expected that the pressure level will still be supported and tested back and forth. There will be no short-term operations. If the strong support is not broken, just hold long-term positions normally. .
ETH:
The trend of Ethereum is still the overall weak linkage BTC. After falling below the short-term support of 2090 points, it broke all the way to 2000 points. The daily support is 1960 points, and the daily pressure level focuses on 2130 points. I will not operate until the independent market trend is reached.
REN:
The concept of the second layer of the BTC is linked to the daily trend of the BTC. It is now around 0.058 points, so pay appropriate attention.
November has been a bullish month for the cryptocurrency market. This is particularly evident in the first half of the month.
Here are two Altcoin that may attract more attention in December:
Chainlink (LINK)
Price: $14.79
Market cap: $8,235 billion
Rank: #12
Chainlink Stake v0.2 launches this year. Priority migration takes place on November 28th and is only available to existing v0.1 LINK stakers. Addresses eligible for early access will begin staking on December 7th, with staking opening to the public on December 11th.
Stake v0.2 will build on the existing foundation of v0.1, providing greater flexibility, higher security, dynamic reward mechanisms and modular architecture. LINK price has been declining since reaching a high of $16.58 on November 11. Six days later, that decline resulted in a drop to a low of $12.86.
Since then, the price has gained ground on the back of the Relative Strength Index (RSI). Market traders use RSI as a momentum indicator to identify overbought or oversold conditions and decide whether to accumulate or sell assets. Readings above 50 and trending upward suggest bulls still have the upper hand, while readings below 50 suggest the opposite.
The RSI bounced off 50, forming a hidden bullish divergence (green), which is seen as a sign of trend continuation.
If LINK price continues to rise, the next level of resistance will be $18.30, created by the rising parallel channel’s resistance trendline. An upward move of 22% is needed to reach that target.
Although the LINK price forecast is bullish, a close below the November 17 low of $12.86 (red) will invalidate the bullish count. In this case, LINK price could drop by 27% to the channel’s support trendline.
ImmutableX (IMX)
Price: $1.28
Market cap: $1,606 billion
Rank: #39
ImmutableX launched the zkEVM testnet in August, aiming to be the home of games on Ethereum. Over 50 games have been committed to being built on zkEVM. The testnet was upgraded from Polygon Edge to Geth in November, and the mainnet will be launched in December.
Since early November, IMX prices have risen rapidly. On November 23, the price rose to a peak of $1.50. While the price subsequently declined slightly, it is trading above the $1.20 level area, which is currently expected to provide support. If IMX price rebounds, it could rise by 24% to the next resistance level at $1.60.
Despite the bullish IMX price prediction, a daily close below the $1.25 area could result in a 20% drop in price to the next nearest support at $1.
ID
Let’s talk about the IDs listed on the UP exchange today. The daily line has reached a maximum of 40%. In the past quarter, it has become an industry practice to go to the Bangzi exchange and then go back to the starting point. When the news came out before, it didn’t prompt everyone to pay attention because the market trend brought by this kind of news is really just a look. The sustainability depends on the project itself and the behavior and habits of the traders.
As far as ID is concerned, the overall market value is close to that of ENS, and it is currently integrated into Binance’s Launchpad and then integrated. There is still great uncertainty in the application of the later empowerment of the entire project. Of course, if the market value goes up, Binance will support it, and it is very possible to distance itself from ENS.
From the logic of value investment, if it is a long-term layout of personal operations, this concept will still give priority to ens. The essence of speculation and investment is the underlying application. To sum up in one sentence: ID is suitable for speculation, and ENS is suitable for investment.
Finally, I have to emphasize that the daily bottom of the BTC has been rising. The technical view is relatively pure. There will definitely be a wave of heavy volume before the market ends. Therefore, if you look at the BTC in the long term, you can look for opportunities to stock up on it now and in the event of a correction in the future. Every operation now is for a good result in the next big cycle. Don’t be dissatisfied with the market’s slow pace, and don’t If you are greedy enough for a low position, then pick it up.
Create a high-quality circle
Mainly spot goods
I will share some content: conditions as shown below:
The overall position is ≥10,000 u. If you want to join, please contact me~! Welcome to send me a private message~!
(The operating space for hundreds and thousands is too small. If not, you can also send a private message. As long as you have skills such as on-chain data, native dog crawling, etc., you can join if you pass the screening.) Purpose: To become bigger and stronger, and create greater glory. A bull market turnaround!
The article ends here. You can follow the official account (Xiao Ren’s Value Investment). If you have any questions, you can leave a message on the official account and I will reply to you in time~
