Last night's CPI data was positive for risk assets. After the data was released, Bitcoin briefly rose above 89,000, but was quickly pushed down to a low of around 84,000. The futures market also saw a liquidation of up to $450 million.
A Bitcoin OG whale deposited 5,152 BTC (approximately $445 million) into BTC. Currently, there are no signs of the price stabilizing, but market panic should subside after the Bank of Japan's interest rate hike.
BTC
From the 4-hour chart, this wave of BTC appears to be a descending wedge, and it is the last leg of the decline. It is uncertain whether it will follow this pattern, as the overall trend is still downward. However, considering the short-term rebound demand, I will temporarily abandon the idea of short and continue to hold my long positions.
The key resistance level to watch is the 8.9-9w range. If the price breaks through and holds above this level while the upward momentum remains strong, it is highly likely to form a descending wedge pattern, after which the trend may reverse.
This rebound is not over yet. Pay attention to the upper resistance line and make a further judgment later.
ETH
ETH's recent rebound has been quite strong, possibly because the negative news has been priced in, leading many large funds to start buying in buy the dips, resulting in a rapid price rebound. Although it is currently in a downtrend, the 4-hour chart shows a series of golden cross at low levels, suggesting a high probability of a breakout in the short term.
The key resistance levels to watch are 3030 and 3150. Consider shorting around these levels.
The support levels to watch are 2860, 2750, and 2650. For a short position, the target is 2500.
SOL
SOL has been relatively weak recently, breaking below the 120 level last night. Its performance has been quite poor lately, failing to break through the 145 resistance level three times, and breaking the 122 support level directly. It's been selling off for some time now. It's worth watching closely; if it stabilizes above 123, it could be a good time to buy, with an upside target of 132-135.
RTX
Total supply: 100 million; initial circulating supply: 16.66%; pre-market price: 1.3; pool price: 1.2.
Positive factors: 1. The second Aster USD1 trading pair; 2. Community back-fighting, which doesn't seem to be as much as 1.33%.
Negative factors: 1. On-chain TVL is 44m. 2. The fundraising timeline is too abstract; there's no reason to raise funds in November, and the TVL hasn't performed well either, so how can it support the token issuance?
The project's overall impression is average, and its trading volume is also average, so it doesn't have any major advantages. Its pre-market market capitalization is normal, neither high nor low. Keep an eye on it when the market opens.
ZKP
Total token supply: 1 billion; Initial circulating supply: 201.6 million (20.16%); Pre-market price and pool price: 0.175 USDT; Corresponding circulating market capitalization: 35 million USDT; FDV: 175 million USDT.
Kaito pre-sale 2%, half of which will be unlocked on TGE and can be claimed on the ETH network at 8 PM. Aspecta key pre-sale 0.2% of tokens will be available for exchange on TGE within 2 hours. In addition to community airdrops, Kaito voice airdrops, and Binance BOOSTER 10 million tokens, there are still quite a few tokens available.
However, the project team did not specify the amount of airdrop, which is quite ridiculous. To maintain the price, there shouldn't be any problem with the Binance futures position. Wait for all sorts of random airdrops to cause a price drop, and then see if you should take a position and try your luck with the futures position.
The market is constantly changing, and specific entry and exit points should be determined based on real-time conditions. Follow the trend after a breakout! No matter how high your confidence level, please strictly adhere to your stop-loss and take-profit strategies! That's all for today! Follow me so you don't get lost! ( Add me on QQ: 3958133807 with a note, and I'll add you to my learning and discussion group.)
