Track real-time hotspots in the cryptocurrency industry and seize the best trading opportunities. Today is Sunday, November 10, 2024. I am Wang Yibo! Good morning, everyone! ☀ Hardcore fan check-in👍 Like and make a fortune🍗🍗🌹🌹

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With the landing of the US election and the expected interest rate cut in November, the crypto market has shown a spiral upward trend. BTC has continuously hit new highs, while ETH has changed its downward trend and broken through and stabilized at $3000. The breakthrough of ETH has also boosted the enthusiasm of the altcoin market. This trend in the crypto market has completely shattered the legend of Favourable Information being a big dump. Trump's presidential campaign is strongly supported by Musk. In fact, before the election, whales and institutions kept suppressing accumulation. Recently, new coins have shown strong momentum, while old star coins are stagnant. In fact, narrative-based old coins will still rise when they are fully circulated. The reason why old coins are stagnant is that there are too many new coin listings, and unlocking and delisting have been plaguing the trend of old coins. What we need to do is to hold coins and patiently wait for the rise after the rotation of zones.
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After BTC surged to around 77000, it is currently in a consolidation phase. This is more evident on the 4-hour chart, with the price of the coin trading in a range above the middle band. Considering the weekend market, it is expected that the trading hours today will still be within this range. The overall market data has stabilized around 76000, and the market data has continued the overall correction from the midnight surge. The candlestick has been running around the middle-upper band, and as the Bollinger Bands contract, the overall range of market data has narrowed in the short term. BTC still needs to correct and accumulate momentum before another surge. However, the market data of ETH is different from BTC. The candlestick has been rising continuously without much retracement, and the 4-hour chart is gradually breaking through the upper band. The Bollinger Bands continue to rise, indicating that there is still room for upward movement in the market data. For trading, it is recommended to participate in short positions and long positions within the 77500-75500 range. (If it breaks above 77600, it may reach 79000).
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Recently, the wave of long positions is like the surging river, one after another. After a long silence, ETH surged to 3140 in the early morning today, showing signs of reaching 3200. From a technical perspective, after continuous volume on the weekly chart, it officially entered a second consecutive positive trend, with a strong momentum. The upside potential is still significant in this structural form. The daily candlestick broke through the high again. Although there is a slight retracement after each breakthrough, it is still in a strong correction phase judging from the space. After all, the overall recovery pace is relatively fast. The short-term moving average indicators are still showing the dispersion of long positions. The structural form of long positions remains unchanged. Looking back, there is already a space for a 700-point increase as of the end of this week. The Bull Market shows no sign of peaking. In terms of operation, it is still advisable to treat the retracement with caution and continue to focus on breaking through the high. Look for more around 3100-3080 and target 3200-3300.
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