Bitcoin is exhibiting weak wide fluctuations, swinging up and down by several thousand dollars. This market condition is most suitable for swing trading. Currently, the 4-hour level is mainly adjusting, going down will lead to a rise, and going up will be pushed down, so it will continue to adjust. This situation may last until around January.
Although the market is weakly fluctuating, some altcoins have not been idle these days; they are still pushing up. Luna leads the rise, followed closely by ZEC.
BTC
Bitcoin is fluctuating around 90k, maintaining a relatively reasonable range, with effective support from supply and demand below (around 89613). If you want to go long, you can pay attention to long opportunities near this position, or if it doesn't drop after 6 PM today, you can also try to go long.
If it breaks below this range, don't easily attempt to go long in the short term. Trading strategy: Go long: around 89911, stop loss: below 89374, take profit: around 91584.
ETH
ETH is experiencing significant fluctuations in the short term. After this kind of movement, it is generally highly likely to break upwards. The pattern is also in a triangle shape, with short-term support around 3k. When the price touches this position, consider entering long, and after that, it should start to accelerate upwards. So make sure to seize the last opportunity to enter a long position.
$WET
Total supply 1 billion, initial circulation 23%, pre-market price 0.14, average presale cost 0.055U, corresponding circulating market cap of 12 million, FDV 55 million.
Positive factors: 1. Leading DEX in the Solana ecosystem, accounting for 35-40% of Solana's spot trading volume, with the highest market share. 2. Compared to other DEX tokens on Solana, the cost-performance ratio is quite good.
Negative factors: 1. The token's use is only to reduce transaction fees, with no fee buyback; the trading volume ratio should only be used for FOMO. 2. The chips are a bit scattered, with no motivation for a pump. 3. The opening FDV and time on Solana chain are unclear, making the gaming point ambiguous.
Calculating the presale cost against the pre-market price gives a space of one time. The main selling pressure is after 10 o'clock, but compared to several DEXs on SOL, the cost-performance ratio is quite good. $RAY has a circulating market cap of 300 million, $MET 160 million, and $ORCA 77 million, with the premise being that the project can continue to maintain its advantages in the future.
$MERL
$MERL on-chain big holders are starting to loosen up, and the price is likely to retrace to the 0.2 range. Currently, the market is leaning more towards downward adjustment rather than brewing a breakthrough upwards. If there are a few more similar transfers, the sentiment is likely to cool down.
Based on the current on-chain pace, a price retracement to around 0.2 is completely reasonable. There, excess floating chips can be washed out, and emotions can settle down, which may actually be a healthier position for real momentum opportunities later.
In short, the short-term outlook is bearish, and there is more room to short. Wait for it to return to around 0.2 to cleanly break the downward trend, and then consider changing strategies. Personally, I am currently inclined towards bearish positions; let the market complete the necessary adjustments first for better entry opportunities.
$STABLE
Today I saw stable continuously declining. I was originally thinking about buying the dip, but after checking the information, I found that this coin currently has a market cap of over 200 million USD, and a large portion of it has not yet been unlocked. Moreover, the exchanges that can trade it have basically all gone live, which means that there won't be much speculative opportunity going forward.
Given that the market cap is still so high under this market condition, shouldn't it drop below 100 million USD? It feels like $STABLE can be shorted for the long term!
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