BTC: Currently above the 5-day moving average, yesterday's volume was green candle and the price closed with a medium-sized positive line. The current FOMO sentiment is still not high, which means that 42420 may not necessarily be the short-term top. This month, it may hit around 48,000 (expected to be the interim top of this year); in the short term, there is a certain probability that it will pull back to around the 5-day moving average of 40,300 without breaking, and finally continue to fluctuate upward. The bottom of the market will continue to rise until it hits around 48,000; in the middle and late part of this month, it is likely to rise and fall.
Important events this week: This week's macro includes US unemployment data, all major asset classes are currently pricing in the rate hike cycle that is about to end, and cryptocurrencies continue to see inflows. Due to the recent decline in cryptocurrency events (mainly driven by funds), it becomes more important to keep a close eye on Bitcoin inflows and outflows as the market experiences the coldest period of the year around Christmas. The specific schedule is as follows:
On Wednesday, December 6, the Bank of Canada’s interest rate decision; on Thursday, December 7, the number of initial jobless claims in the United States for the week; on Friday, December 8, the U.S. unemployment rate for November; and the seasonally adjusted non-farm payrolls for November in the United States. Pay close attention to market trends before and after related events and adopt corresponding investment strategies.
Market Hotspots
1. ORDI, STX, AUCTION, and BSSB of the ecosystem have soared. ORDI has become the overall leader of the entire market. This round of inscriptions is similar to NFT, attracting a large number of new retail investors. STX and AUCTION followed the rise, which is BTC's DeFi. BSSB is a newly released BTC stablecoin.
2. BIGTIME and SUPER of games surged. BIGTIME broke its previous high and surged, becoming the No. 1 game coin with a market value of 4 billion US dollars. SUPER is a strong market coin.
3. PEPE and MEME in the Meme track rebounded. ETH is weak, which leads to the weakness of the ETH ecosystem and Meme in this round. The capital spillover effect of the BTC ecosystem and the SOL ecosystem is stronger.
4.HONEY of SOL ecosystem has surged. Honey is engaged in Depin, a decentralized map.
In the current market, there are actually many opportunities for operations. Some friends say that if you want to double your positions in spot trading, you have to wait until a bull market. Let's take the disconnected band position as an example. Assuming that you make 10-20 points on each band position, the compound interest is still very scary. So even if it is not a bull market, in such a market where opportunities are everywhere, the overall profit of playing the band well is still very considerable.
MASK is also what we have been strongly recommending. MASK has had a small outbreak, and GALA has also made a profit of nearly 20 points. As an accelerating market, don’t always think about selling at the highest point for swing positions. Generally, you can stop profit in batches after 10-20 points or after reaching your target position.
Since the BTC has touched the pressure point formed by the previous high point again and fell back again, then - according to the theory, the next target position is the position of the lower boundary of the rising channel. You can first see the position of 40600-40000. If it can't hold up, the next position is 38000-38500. The rise is also rhythmic, so even if it falls, it will not fall to the position you want all at once. The bull market has a lot of sharp declines, so you can pay attention to the opportunity to buy the dips at a low point.
In addition, during the BTC pullback, you can focus on the opportunities of GMX, ENS, FIL and ARB. I will not introduce ENS and ARB in detail as they are currencies we have mentioned repeatedly.
I think the potential of GMX is still relatively large. Band operation can also be used to ambush in advance and wait for the currency to rise. You can pay special attention to it during the BTC pullback period.
Let’s sort out the currencies that can continue to be hyped in the future:
TIA
TIA has had a good story, a good background, a good track, and a strong control situation since its airdrop. With more and more new applications such as mint cash working closely with TIA, TIA is one of the most promising targets in the next bull market.
SOL
After the collapse of FTX, SOL regained its vitality. New applications in the ecosystem continue to emerge, Pyth, Jito, Jupiter, etc. have been launched one after another; old applications are also ready to move, and the prices of Orca, Ray, Atlas, etc. have doubled from the bottom; at the same time, Solana has become the second only to ETH.
ATOM
The differences between the Atom protocol and the Ordinal protocol are compared. The improvements of the Atom protocol are more in line with Bitcoin fundamentalism. Recently, its token AVM or Dmint's NFT Toothy have also received considerable market attention.
Optimistic about the moment, in and out (short-term)
The compensation and restructuring plans of FTT and FTX should come to fruition in the near future. I have been quietly buying FTT from 1u to 4u, hoping to get excess returns.
The positives of FTT have been mentioned too many times before, so let me add a negative one. The new exchange is restarted but the tokens/equity are exchanged, and the subsequent story has nothing to do with FTT. In this way, FTT becomes a pure Memecoin.
LUNA, LUNC, USTC
The emergence of this series is closely related to the recent emergence of mint cash. Based on my understanding and recognition of the once strong vitality of the Terra community, I am very much looking forward to this restart plan.
STX, RIF
The direct beneficiary of the rise of the BTC ecosystem. BRC's capital outflow will also inevitably benefit. Recently, we can see that the application of STX has also developed rapidly.
at last:
Because BTC currently needs to pull back, for short-term swing positions, you can decisively stop profit when you reach your expected target. Don't always think about selling at the highest point, otherwise, if BTC pulls back, you may lose all your profits. Always remember your own operating methods. Don't use long-term thinking for swing operations. Of course, if your own operating idea is to take the medium and long term, then short-term fluctuations like this can be ignored. When you reach your target position, you can choose to clear the position.
In addition, in short-term swing operations, remember not to chase highs and sell lows. A good way to operate is to wait for the BTC to pull back and then arrange your swing positions on dips, or the altcoins you like, instead of blindly chasing after the current highs, or even the rise of more than ten points. It is obvious that this way of operation is irrational.
Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.
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