Article Source: WeChat Official Account PP Showdown

If DOWNGrade loses, then I'm toast.

This isn't what I said, it's DOWNGrade's biggest supporter Musk talking.

Why say so? Very simple, as of the end of last month, Musk has already smashed 1.32 billion small targets for DOWNGrade, or even intervened in voting with cash (drawing one million a day). If DOWNGrade loses, Musk will face multiple accusations, and the dogecoin he endorsed will also be affected.

Today's BTC market analysis: From the candlestick chart, the hourly chart is up, the 4-hour chart is up, the 12-hour chart is trending down (with signs of stopping falling), and the daily chart is down. IntradaySupport level.70000，Resistance67300 USD.

Why do some people keep asking if there is an altcoin season?

This question is really basic! First of all, let me make it clear to you!

There is an altcoin season, and there may be pumps or new sectors appearing!! However, not all altcoins will pump! Some coins have lost their momentum!

Some coins have turned into dao!! Some altcoins will only bring you delisting notifications, not pumps!! Stay sober! Be sure to!!

In the current market, only bitcoin and ethereum are relatively stable for short-term trading! Or try bottom fishing some high-quality coins and gradually enter with limit orders! Never hold onto altcoins to the death, what you think is a good coin may just be garbage!!

Rationally evaluate, reject fomo.

Which altcoins will take off after the election?

The most directly related altcoins during the election are MAGA and kama, which are exclusive altcoins for Dong Wang and Haha Jie respectively. With Haha Jie temporarily in the lead, kama has directly shown three big green candlesticks starting from this month, while Dong Wang's MAGA dropped from the end of last month until now. Similarly, Musk's dogecoin is also the same. This is the narrative of altcoin memes, influenced by internet hotspots and celebrity endorsements.

Dog memes have created many stories of sudden wealth, but I still want to remind everyone to be cautious and not blindly follow the trend.

Virtual currency collapse, 100,000 people liquidated positions...

In the past week, the virtual currency market has experienced severe fluctuations, with bitcoin facing massive sell-offs, rapidly dropping in price, successively breaking through the integer thresholds of $73,000, $72,000, and $71,000, bottoming out at $68,272 per coin.

Other cryptocurrencies in the virtual currency market are all plummeting. BAN down 35% in 24 hours, SUI down 5% in 24 hours, PEOPLE down 9% in 24 hours, LISTA down 14% in 24 hours. According to CoinGecko data, the total market cap of cryptocurrencies has dropped below $2.3 trillion, with a 24-hour drop of nearly 2.13%, evaporating over $88 billion in market cap (approximately 630.1 billion RMB).

According to Coinglass data, in the past 24 hours, over 100,000 people were liquidated in the virtual currency market, with a total liquidation amount of $0.235 billion, including $0.194 billion in long liquidations and $40.45 million in short liquidations. The largest single liquidation was $9.97 million.

The catastrophic scene of forced liquidation is vividly remembered. I advise all coin friends to avoid futures contracts, only seeking steady progress, not aiming for high-flying dreams. Life is short, take fewer wrong paths, cherish the present. Futures contracts may be exciting for a while, but ultimately end at zero.

The recent market developments have made many brothers quite anxious.

The structure of the current bitcoin market trend is clear, whether Trump or Harris is elected, it will not disrupt the market structure. Market makers are responsible for market trends, maximizing their own interests, not for Trump or Harris.

Therefore, after the election results are out, market fluctuations may be far less than most people's expectations. This has been validated numerous times, such as the night of interest rate cuts, or Trump participating in a bitcoin conference.

The wishful thinking of small investors is: - Harris wins and bitcoin plunges 50%; - Trump wins and bitcoin soars by 100,000.

The most likely scenario is that after the election results are announced, there may be a small up or down move. Then the market will continue on its path. The structure of the bitcoin market trend has gone through a complete half-year of decline/shakeout/forced funding/supply absorption actions and will not be disrupted by a single event.

The benefit of the U.S. election for market makers is the ability to use both sides, increase volatility, add market divergences, and have a story to tell. The U.S. election is the most effective storytelling tool for market makers, following ETFs.

I still have the same attitude, I will not release the eagle until I see the rabbit in this round of market.

Overall strategy:

Spot: Before the election results are announced, giving up the futures market; if involved in spot trading, only small positions will be taken, focusing on short-term trades. Therefore, I will only take action when I am very satisfied with the entry point or pattern, otherwise I will choose not to trade.

Shanzhai: All shanzhai coins have already been wiped out above cost levels. The next buying point will be: when the external environment stabilizes, the trend of the major coin stabilizes, and the major coin breaks the previous high to confirm the start of the primary uptrend before making the second batch of purchases.

In the past three months, apart from meme tokens, none of the so-called value coins have performed well in the market! This has dealt a huge blow to the market!

Despite this, do not be overly pessimistic. Stick to the long-term investment strategy and seize the opportunity to accumulate chips when necessary. For medium-term trading, only enter the market at buying points, while for short-term trading, focus on intraday quick profits. Take advantage of opportunities as they arise, but wait patiently when there are no opportunities!