BTC continued to rise yesterday, Trump was elected, major bullish fundamentals, driving BTC to break through a new high, reaching a peak of 76,400. There will be a Fed interest rate meeting in the early morning today, with an expected 25 basis point rate cut, likewise a fundamental bullish factor. Expect the market to rise again in the evening. Light pullback during the day, hold your position, maintain a healthy daily level and weekly level.Golden crossAlready formed, maintain holding, stay confident, and continue to be optimistic.
Dogecoin rose synchronously with BTC yesterday, starting to make up for the rise in the morning today, already breaking through 2,800. Currently, the 4-hour timeframe has also entered the overbought range. It may undergo a pullback and correction during the day similar to BTC. It is highly likely to continue rising in the evening. Continued optimism for the future, currently reaching the target range of 2,800-3,000. Holders may consider reducing positions, waiting for a pullback before buying in again.
In terms of altcoins, they rose synchronously with the mainstream. Hold patiently for SATS, consider clearing positions around 50. Uphold a mid-term hold for PEOPLE and continue to hold FTM.
Intraday market analysis
BTC has entered the overbought range on the 1-hour and 4-hour timeframe, with the daily level above a healthy level. Expect a pullback during the day.ResistanceConsider holding positions, the long-term expectations have not weakened, with support at 73,800-74,300 on the downside, and resistance at 76,500-77,000 on the upside.
ETH on the 1-hour and 4-hour charts has entered overbought territory, the daily chart is above a healthy level. Buying and holding positions can be considered on pullbacks to support levels during the day, maintain existing positions, with support at 2,680-2,730 on the downside, and resistance at 2,930-3,000 on the upside.
There is another highly anticipated meeting scheduled for this week, which is the Federal Reserve's interest rate meeting on November 8th.
According to CME's "FedWatch" data, the probability of the Federal Reserve cutting interest rates by 25 basis points in November is as high as 98%, with only a 1.1% chance of keeping the current rates unchanged. Looking ahead to December, the probability of maintaining the current rates drops to 0.2%, while the chances of a 25 basis point rate cut stand at 17.1%, and more than 82.7% for a 50 basis point cut. These data have far-reaching implications, essentially shaping the entire cryptocurrency market trend for 2024.
Combining historical data and market performance, the current market environment - with the right timing and conditions - provides bitcoin with the conditions to challenge historical highs in November. For investors who are able to buy in at this time, it may be an opportune moment to reap the rewards and celebrate the new year; however, missing this opportunity might require an attitude adjustment and a return to regular routines.
In terms of layout, it is still mainly focused on mainstream coins. For altcoins, you can consider focusing on technology, AI, and memes related to Elon Musk.
Popular altcoins worth paying attention to
1. BONK
BONK is a relatively new meme coin that has quickly attracted the attention of the community since its launch on the Solana blockchain in December 2022. As the first dog-themed token on the Solana network, BONK's core focus is to enhance the liquidity of decentralized exchanges.
By 2024, BONK has become the third largest meme coin by market cap, and market sentiment towards its future performance is gradually improving. The prospect of BONK is closely related to the healthy development of the Solana ecosystem, with an expected upward potential in 2024 and possibly even greater breakthroughs in the coming years.
2. DOGE
狗狗币的基本面显现出强劲势头，近期的大额交易和价格上升为其带来了稳固的支撑。过去一周，狗狗币上涨了18.13%，突破了多个关键技术阻力位，包括Relative Strength Index（RSI）的突破。当前交易价为0.20美元，过去24小时内涨幅达到17.37%。
链上数据显示，狗狗币在过去40小时内的活动显著增加，这表明主要市场参与者的看涨情绪持续高涨。根据IntoTheBlock的鲸鱼净流量数据，大持有者钱包中的DOGE流入量从45.3 million激增至0.4313 billion，增幅高达957%。这一转变表明，大量持有者（即持有超过0.1% DOGE供应量的投资者）正积极囤积这一流行的meme币，这种累积模式通常是其价格前景的积极信号。
3.NEIRO
NEIRO is a community-driven meme token recently launched on the ethereum blockchain. Inspired by Kabosu, a Shiba Inu and the iconic face of the Doge meme. Similar to dogecoin, NEIRO also has a light-hearted and inclusive atmosphere, quickly attracting the attention of the global community. With its connection to Doge and the emotional story behind it, NEIRO has become the new favorite of investors looking for the next meme token.
Over the past year, NEIRO has performed remarkably well, with its price skyrocketing by over 42,000% and a monthly increase of 20.85%. The daily chart and weekly chart show increases of 37.07% and 8.39% respectively, indicating strong upward momentum.
Currently, the key technical resistance level for NEIRO is at $0.0022215, if this level is broken, the next target could be $0.0037733. The support level is at $0.0009178. The 10-day (SMA) is at $0.0018717, slightly below the 100-day SMA of $0.001953, possibly suggesting some short-term pullback.Simple Moving Average(SMA) is at $0.0018717, slightly below the 100-day SMA of $0.001953, possibly suggesting some short-term pullback.
A total of 0.214 billion USD was liquidated across the entire network in the past 24 hours.
In the context of bitcoin's oscillating decline, according to Coinglass data, in the past 24 hours, the total liquidation amount of cryptocurrencies exceeded $0.415 billion (with shorts accounting for $0.237 billion), leading to liquidation of over 0.12 million people. Currently, bitcoin's volatility has significantly increased, caution is advised for investors.
