Cryptocurrency News
November 30th Hot Topics:
- A whale withdrew $36.59 million in assets from Binance in the past 18 hours.
- A Bitcoin address that has been dormant for nearly 4 years transferred 3,623 BTC, with a floating profit of approximately $100 million.
- A whale spent 10 million USDC to purchase 4,872 ETH again.
- Grayscale is updating the GBTC protocol in preparation for ETF conversion.
- Federal Reserve Beige Book: Overall, economic activity has slowed since the last report.
Trading Insights
First: Everyone knows the 80/20 rule, the common sense of buying low and selling high. We are confident that we are part of the 20, but in reality, we are just being naive and have become the harvested leeks. Always remind yourself that you are just an ordinary member of the public, and your intelligence is not outstanding.
Second: The most common thing heard in the cryptocurrency industry is to study hard and improve your ability to iterate knowledge. This is something you must persist in. Through learning, you begin to master your investment mentality. Otherwise, you will not be able to survive in the cryptocurrency industry. The frenzy of a bull market and the brutality of a bear market will multiply your stress.
Third: Respect the market. You must constantly remind yourself that the probability of rise and fall is completely 50/50. Do not assume that you can control the market. This is a game of capital, and you are just a participant, not the creator or manipulator of the game.
Fourth: Dollar-cost averaging is a simple and effective strategy, especially in a bear market or when you are new to the cryptocurrency industry. You do not yet understand what it means to be a leek and cannot control your greed. Only through dollar-cost averaging and diligent learning of cryptocurrency knowledge can you weather the cold winter!
Fifth: Never go all in, because we cannot grasp the market's rules. Even with full confidence, it is not advisable, as the one in a million chance in the market will lead to a 100% probability.
Sixth: It is often said that the cryptocurrency industry is a gamble, so let's play by gambling theory. The first rule of gambling: minimizing losses is maximizing gains. The second rule of gambling: when you are lucky, increase your investment; when you are unlucky, reduce your investment. Bet small and wait for luck to turn. The third rule of gambling: study hard and learn card-playing skills. The fourth rule of gambling: small bets bring joy, big bets harm. You must learn to control your greed.
Seventh: You must use spare money for investment. Why? Because the cryptocurrency industry is completely unregulated, and the greed of capital is fully displayed here. If you speculate with borrowed money, the cryptocurrency industry can make you rise several times in a day, but it can also make you fall several times, especially during a downturn, the pressure you face will be unprecedented, exceeding your mental endurance, and you will end up cutting your losses, which is exactly what the market makers want!
Search for the public account: Big White on Cryptocurrency
BTC
Analysis
Bitcoin continued its bullish trend yesterday, breaking the previous high and reaching a peak of 38,380 before falling back. It dropped to the support level of 37,573, and is currently trading around 38,110. The four-hour chart has tested the MA14 moving average multiple times without breaking through, followed by another rebound, returning above 38,000. The MACD is running bullish with a golden cross of the two lines, and the MA7 moving average is pointing upwards. Overall, the bullish performance is strong, but it is expected to experience a pullback due to the lack of strong upward momentum. On the daily chart, a pullback without breaking the MA7 moving average has turned from negative to positive, but the trading volume has not followed. There is a divergence at the top, and the upward space is limited. There may be an opportunity to test 38,800, but it is recommended to prioritize long positions after a pullback, with resistance at 38,500-38,800 and support at 37,600-37,200.
ETH
Analysis
Ethereum's overall performance is not as strong as Bitcoin's. After reaching a high of 2,074 yesterday, it was resisted and fell back to the support level of 2,018. It is currently trading around 2,036. The four-hour chart is generally suppressed by the MA30 moving average, with multiple attempts to break through without success, showing overall weakness. The MACD is running without volume, with the two lines sticking together. Short-term trading is in a small range of fluctuations. The daily chart shows a consistent trend, with the space gradually narrowing. The MACD has formed a death cross, but the trading volume is insufficient for the two lines to cross. It is expected to test the support of the MA30 moving average, and there is still a need for a pullback within the day. It is recommended to prioritize long positions after a pullback, with resistance at 2,070-2,100 and support at 2,020-2,000.
Disclaimer: The above content is purely personal opinion and is for reference only. It does not constitute specific operational advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you do not understand, feel free to consult.
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