BTC has rebounded to the 61.8% Fibonacci retracement level of this recent decline, which is also a key resistance level. The entry point a few days ago at $100,000 was primarily driven by the expectation of the US government reopening, and this positive factor is now gradually materializing. Therefore, a large position is unnecessary; it's best to maintain a partial position and observe until the US government officially reopens before assessing the price action to determine if further action is warranted.
ETH: From a weekly chart perspective, the probability of a reversal is extremely low. Now that it has rebounded, the upside potential is limited; reaching around 3800 would be quite good. Therefore, a more cost-effective approach is to gradually build short positions during minor upward rallies, as this offers a better risk-reward ratio.
This round of altcoin rally mainly involved the privacy and storage sectors. Relatively speaking, storage stocks were more affected, with the cycle lasting less than three days! The privacy leader, Zec, rebounded quite well, while the storage leader, Fil, saw a sharp rise followed by a sharp fall.
Whether the second phase of the market trend will continue is uncertain; we can only wait for a clear signal from the market. In the primary market, there have been almost no good large MC memecoin released this week. In the secondary market, mainstream coins have little trading volume, but their prices are rising, a typical volume-price divergence pattern. BNB can be short.
Market Opportunities:
PING: Essentially, it's a platform token. All subsequent trading pairs for 402 tokens will be PING trading pairs, which is beneficial for PING and will provide it with real benefits. This is also a 402 sector token that Brother Nai is very optimistic about. Currently, its market capitalization is approximately 33 million, and the price is around 0.033, making it suitable for buying on dips.
ASTER: The candlestick pattern is okay, forming a descending wedge overall. It's been consolidating for a while and has shown signs of bottoming out, but on a smaller timeframe it's currently forming an ascending wedge. Wait for it to pull back to around 1 USDT before considering a long position. This coin has significant potential, so keep an eye on it.
TRUMP: It's starting to rise again and is about to break through the resistance of the triangle pattern. At this point, you can set a stop loss to break even and wait for it to surge upwards.
That's all for today's article.
