[This Week's Token Narrative]
DOGE Tesla launched the Cybertruck, and Dogecoin is included as a payment option in the website's code. - If Elon Musk tweets about Cybertruck accepting Dogecoin as a payment method, it could lead to a pump.
TIA Unlike most altcoins, TIA/BTC is still in an upward trend, unaffected by the rise of Bitcoin.
MAGIC Short-term incentive proposals for Arbitrum games are under discussion, and a potential governance vote is imminent.
ORDI STX Both are considered prominent BTC-Beta games. Since listing on Binance, ORDI has become a leading Bitcoin meme token, while STX is considered similar to ORDI, exclusively on Upbit.
STX It is preparing for a significant milestone, the Nakamoto version scheduled for release in January next year.
LINK It is preparing for its Stake V0.2 Catalyst, while RNDR is expected to soon launch its BME model.
[BTC Today's Analysis]
On the daily chart, on December 1st, Bitcoin broke through 38000 and firmly established itself above it. To some extent, the price of Bitcoin is forming an ascending triangle pattern, with 38000 being the upper boundary of the triangle. The price has been moving along the 5-day moving average, reaching a high of 40870U.
From the perspective of moving averages, since the entry at 27200, BTC has not fallen below the 30-day moving average, and has finally experienced a bullish crossover of short-term moving averages, accelerating the upward trend.
The MACD indicator has completed its correction and formed a bullish crossover after returning to the zero axis.
Next, the price of Bitcoin is expected to continue to target 42800-45800-48500.
[BTC Phase Target Adjustment Suggestions]
After the launch at 27200, on October 23, we adjusted the targets based on the actual trend of Bitcoin as follows: 32000-35000-48000 points. The price has already reached the 35000 point level, and has also broken through 36000 points, reaching a high of 38000 points. It is currently a pullback after the breakthrough, and the daily chart needs to adjust and repair indicators. It is believed that the adjustment of the bullish trend is for a better upward movement.
On the monthly chart, Bitcoin's November monthly closing was at 37700U, confirming the upward trend. There is no doubt about the upward trend, and there is no need to entertain the idea of falling below 30000 points again, at least not for now.
Bitcoin's monthly chart shows a bullish trend, with the moving average system presenting a bullish alignment, the MACD line gradually starting to cross above the zero axis, and the KDJ turning upwards again. These analytical tools once again confirm the view that Bitcoin's trend has reached the early stage of a bull market.
Looking back at Bitcoin's price movement over the past decade, it has a certain predictive effect on future price trends. In November 2015, Bitcoin's price crossed above the 30-month moving average, and since then, it has not fallen below the 30-month moving average, rising along the 5-month moving average to the peak of 20000 points in 2017. At that time, Bitcoin rose from 400 points to 20000 points, a 50-fold increase.
In April 2019, Bitcoin also experienced a similar crossover above the 30-month moving average, and then the price rose along the 30-month moving average from 4000 points to 69000 points over a period of 2 years, an 11-fold increase.
After a gap of 4 years, Bitcoin has once again seen a bullish trend with the monthly chart showing a crossover above the 30-month moving average. Bitcoin is now in the early stage of a bull market, and it is truly the beginning.
[ETH Trend Analysis]
On the daily chart, after multiple retracements to the 30-day moving average, ETH has started to rise again, showing an overall converging triangle pattern. ETH chose to break through the upper boundary and reached a new high of 2210U this year, with the next target at 2450. The MACD's bullish crossover near the zero axis is the best logic for continued upward movement. Patience is required to hold ETH.
On the weekly chart, ETH's moving averages have confirmed the formation of a bullish triangle pattern, signaling a strong upward trend. Last week, it completed the retracement task at 1880U, and it is highly likely to continue to reach new highs this week.
On the monthly chart, it is highly likely that ETH will lead the way from December to January next year. The moving average system has also presented a bullish alignment, the MACD indicator has started to cross above the zero axis after the bullish crossover, and the KDJ is also in a bullish crossover pattern. These are all strong price performances for ETH on the monthly chart. For those who entered ETH at 1626U earlier, the only risk is not being able to hold on.
[ORDI Trend Analysis]
ORDI, as the leading token in the Bitcoin ecosystem, has already achieved over 10 times profit since the entry at 3.75, with the current price at 42U. With a total supply of 21 million, there is no sign of a stop in the upward trend at the moment. It is advisable to hold patiently.
[BIGTIME Trend Analysis]
Bigtime, as the leading token in blockchain games, has risen by around 220% since entry near 0.17U, reaching a historical high, with a total market value of 75 million USD. It is still advisable to continue holding.
[Quotes from Jiu Ge]
The language of candlestick charts is a result, and everything we know or don't know, everything that is happening or will happen, will be reflected in the language of candlestick charts.
The best reason for an uptrend is the uptrend itself, and the best reason for a downtrend is the downtrend itself. Once a trend is formed, it will not change easily. You just need to follow the trend, ignore all external news, focus on the language of candlestick charts, and focus on the trading system. Everything else is just noise.
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