【Half of the countries recognize cryptocurrency】
According to a report released by CoinGecko, over half of the world's countries/regions have legalized cryptocurrency, including 119 countries/regions and 4 British overseas territories. Among them, Europe is at the forefront of global cryptocurrency legalization, with 39 out of 41 analyzed countries recognizing its legality; in the Americas, 24 out of 31 countries recognize cryptocurrency as legal; in Africa, only 17 out of 44 countries have legalized cryptocurrency, while in Asia, 35 out of 45 countries/regions recognize cryptocurrency as legal.
【Jiuge's View】Success will increasingly become legal, and failure can only be accumulated, worked hard, and cultivated behind the scenes. Since 2012, BTC has finally ushered in its spring, and most participants in this field have changed their lives. BTC and its believers have achieved mutual success!
【BTC Today's Analysis】
On the daily chart, since entering at 27,200, BTC has never fallen below the 30-day moving average, and has once again formed a short-term moving average golden cross above the lifeline, accelerating its rise.
The MACD indicator has completed its recovery, forming a bullish resonance pattern after the fast and slow lines return to the zero axis and the golden cross with the moving average.
BTC has recently surged to 44,488U, just a step away from 48,000 US dollars. Since breaking through the upper channel of the uptrend at 38,000 points, Bitcoin has once again started a new uptrend wave and is currently in the third wave of the main uptrend.
【BTC Phase Target Analysis】
After the 27,200 launch, we have adjusted the targets based on the actual trend of Bitcoin as follows: 32000-35000-48000 points. The price has already reached around 45,000 points and has also broken through 38,000 points, initiating the third wave of the main uptrend. With the completion of the daily chart MACD recovery, Jiuge believes that the bulls will continue to maintain a strong position until the expected target of 48,000 and the upper channel of 51,000.
【BTC Breakthrough After 4 Years】
On the monthly chart, BTC closed at 37,700U in November, and the upward trend is undeniable. There is no need to imagine falling below 30,000 points again, at least not now.
Bitcoin's monthly chart has a single positive line crossing the three lines, and the moving average system shows a bullish alignment. The MACD line has gradually begun to cross the zero axis, and the KDJ has turned upwards again. These technical indicators once again confirm the view that Bitcoin's trend has arrived, and it is now the early stage of a bull market.
Reviewing Bitcoin's price movements over the past decade has a certain predictive effect on future price trends. In November 2015, the price of Bitcoin rose above the 30-month moving average, and since then, Bitcoin has never fallen below the 30-month moving average, rising along the 5-month moving average to the peak of 20,000 points in 2017. At that time, Bitcoin rose from 400 points to 20,000 points, a 50-fold increase.
In April 2019, Bitcoin also had a similar positive line crossing the three lines and the 30-month moving average. After that, the price rose from 4,000 points along the 30-month moving average to 69,000 points in 2 years, an 11-fold increase.
After 4 years, Bitcoin has once again ushered in the trend of a single positive line crossing the three lines on the monthly chart, and Bitcoin is now in the early stage of a bull market, and it is truly the beginning.
Although history does not repeat itself, it will definitely repeat, just in different versions, with different characters, and different stories.
【ETH Trend Analysis】
On the daily chart, after the candlestick broke through 2250 two days ago and then fell back below the trend line, it formed a bearish candlestick combination. Yesterday, a long bullish candlestick of 7.2% once again broke the 2023 high and reached 2380.
Again, the false break below 2250 two days ago was a trap to lure short positions. Next, we will closely monitor ETH's next target of 2480 and 3050U.
Note: The MACD is once again crossing near the zero axis, indicating the start of a new uptrend.
On the weekly chart, ETH's moving averages have confirmed the formation of a golden triangle pattern, signaling a strong upward trend. Last week, it completed the retracement task at 1880U, and this week is likely to continue to break new highs.
On the monthly chart, December to January next year is very likely to be led by ETH. The moving average system has also shown a bullish alignment, and the MACD indicator has started to cross the zero axis after the golden cross, while the KDJ is also in a golden cross pattern. These are all strong price performances of ETH on the monthly chart. We entered ETH at 1626U earlier, and the only risk is that you cannot hold it.
【OP Trend Analysis】
OP, as a leading coin of L2 protocol, we entered at an initial cost of 1.27U. At this position, it has experienced two key neckline breakthroughs. The first was at 1.42U, where it consolidated for more than ten days before finally breaking through. The second was at 1.82U, which was a neckline of a double bottom pattern on the weekly chart. At this position, it consolidated for almost a month, and its breakthrough means that OP will once again open up upward space and show an accelerating upward trend.
Looking at the daily chart, OP's price trend has already broken through the neckline of the weekly chart. The next target will be the height of a W bottom, at 2.8U. If it also breaks through this level, we will look at 3.2 and higher positions. Hold on to the bottom position.
【SOL Trend Analysis】
SOL, as one of the most influential public chain projects that benchmarks ETH, was affected by the collapse of FTX, but it revived in 2023 and broke free from the previous shadows and difficulties. Since entering at $19.1, the highest price has risen to $69, and the highest profit rate has also reached over 260%.
Looking at the technical chart of SOL, it has already broken through the previous high, and the next target is to focus on 79 and higher positions.
【Jiuge's Quotes】
Candlestick language is a result. Whatever we know or don't know, whatever is happening or will happen, will be reflected in the candlestick language.
The best reason for an uptrend is the uptrend, and the best reason for a downtrend is the downtrend.
Once a trend is formed, it will not change easily. You just need to follow the trend, ignore all external news, focus on the candlestick language, and focus on the trading system. Everything else is just a distraction.
- The only risk in a bull market is not being able to hold on.
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