The current market, whether it's Bitcoin, Ethereum, or other altcoins, has frighteningly high funding rates. One cannot help but admire the "whales" in the market. Bitcoin is at a high level of over 43,000, and there are still many speculative players going long despite the high funding rates. Who is willing to go long with such high funding rates? Anyway, I am gradually taking profits for safety. The bullish sentiment in the current market has been completely ignited by the "whales", especially after the recent sharp rise of ORD in the Pionex market. Retail investors' enthusiasm for going long has been reignited. After all, apart from the speculation of the Bitcoin ETF, the bullish market brought about by the Pionex market has also contributed to this wave of bull market. As long as ORD shows abnormal movement, other varieties are eager to try. The funding rates tell everything. Many varieties have risen to relatively high levels, but the funding rates remain high. As an experienced investor, I dare not be aggressive at this time. I can only operate conservatively, holding spot positions, and closing out most of the futures contracts when they are profitable, or reducing leverage and trading projects that have not risen much. In short-term trading, just a few points of profit in each wave is enough. By accumulating several certain varieties, the returns can be quite substantial!
As the leader of this round of market, ORD once again sharply rose, confirming the imminent peak of the market. It is important to note that the market always ends in madness. Accelerated rises are the best way to make the market FOMO. No one can predict where the top will be. Therefore, it is advisable to be bearish but not to short. For those who hold positions, gradually selling through DCA is the best strategy. Just like ARK's "wood sister", they bottomed out when the price was low. Currently, whether it's COIN stocks or GBTC, they are at relatively high levels, and they are also gradually taking profits. Rational investment is like this. Don't always think that you can sell at the highest point. Achieving your profit target and executing your trading strategy according to plan is the key. Do not trade emotionally, and do not be swayed by the market's upward trend and FOMO sentiment!
The almost 90-degree sharp rise of SOL is definitely not sustainable. It seems like a waterfall is coming soon. Anyway, I do not recommend participating in chasing or shorting this variety. Strong manipulation and capital promotion are behind the scenes, and FTX's creditors are selling off. Do not try to catch a falling knife. The market is saying that SOL will surpass Ethereum and reach several thousand dollars. It's just emotional hype. After all, a rise cures all ills. Since Ethereum has not risen much recently, people are saying it's not good anymore. SOL is rising well, so it must be a good variety. Ha ha, investors think this way. However, be rational. The rise of Ethereum is only a matter of time. This wave of Ethereum has indeed been absent in many aspects. However, it is precisely this absence that gives us more time to lay out Ethereum! Personally, I am gradually dollar-cost averaging into Ethereum at the moment!
Next year will definitely be a year for Ethereum to catch up, so dollar-cost averaging into Ethereum at the moment may also be a good choice. Ethereum is currently more than 50 points away from the high point of the rebound in 2022. Buy a little in small dips, buy more in big dips, and wait for the Cancun upgrade speculation. Ethereum will definitely catch up. There should be no problem seeing it above $10,000 in the bull market of 2025. If the Bitcoin ETF is approved around January 10, then the subsequent ETF speculation for Ethereum will also be put on the agenda. Therefore, the market comes in waves, so there is no need to rush. Patiently hold valuable assets! Just control your positions properly and do not use too much leverage, especially since the funding rates are really frighteningly high at the moment, and FOMO sentiment is too strong!
Finally, let's talk about OP and ARB again. Personally, I think there will be a major retracement for OP. It is a high probability event to reach around $3. This variety has very high volatility. It rises sharply, and it falls sharply as well. So, the point you want to ambush may come unexpectedly. You can place relatively low orders at the point where you want to enter, for example, batch orders at $2.5 to $3. The ambush market will give you unexpected prices. In the case of a bullish trend, the price will also return to a reasonable level after a brief ambush. Therefore, it is suitable to take profits in the next two days. Do not chase after the rise or speculate on short-term rebounds at this level. It is very easy to stand at a high level!
The same goes for ARB. It is possible to gradually build positions below $1.3. This variety is quite stimulating when it comes to ambushes. Therefore, the range of ambushes from $1.1 to $1.3 is acceptable. It is not guaranteed to happen, but based on my previous experience with this project, I have ambushed positions during three sharp declines shown in the chart, and I have made thousands of dollars in just a few minutes. So, it's really not too good to be true. With the current high funding rates, I feel that the probability of the "whales" clearing long positions through ambushes is very high. Therefore, if you are participating with high leverage at the moment, be sure to use stop-loss orders or take profits in a timely manner!
Of course, the above are all possibilities. Another possibility is that the overall market will continue to rise sharply. Therefore, what we need to do is to ignore short-term fluctuations for medium and long-term positions, especially for spot positions. Do not stare at the candlestick charts, indicators, or other data every day, or you will easily sell off your chips. If, like me, you are laying out medium and long-term positions for ARB, just sell before the Cancun upgrade. Especially for those who only play spot, be sure to hold on!
With the high funding rates for futures contracts, sharp retracements can occur at any time. Do not let your positions disappear just because the price has not changed. Therefore, control your leverage properly and use stop-loss and take-profit orders!
Next, pay attention to the market indicator ORD's trend. Once it falls rapidly, remember to pay attention to the risk!
Before and after the unlocking on the 30th, you can consider laying out positions again for OP, or placing orders in the range of $1.25 to $1.3 for ambushes. Currently, it is suitable to take profits. ARB is likely to be in a sideways trend at the moment. Pay attention to opportunities to bottom fish below $1.3. Once the short-term pressure level of $1.5 is broken, you can expect to see around $1.8. Therefore, it is still possible to boldly build positions for ARB's retracement opportunities! Remember to hold on to medium and long-term positions!
With the funding rates being too high, those who want to chase after the rise can go ahead. It is better to miss out than to rush in. Protect your principal, buy at sharp declines, and sell at sharp rises. It is clearly a time of rapid rises, so stick to your plan!
Finally, if there is a rapid decline in the market, it is recommended to focus on bottom fishing in the L2 sector. ARB and OP do not need to be emphasized again. IMX, MINA, METIS, and MAGIC can be focused on, followed by Ethereum-related sectors such as the LSD track, with a focus on SSV and LDO. RPL is currently relatively weak, but there are expectations for the subsequent futures contracts. Another project to pay attention to is ETC. It did not perform much in this round of the market, mainly because the Cancun upgrade of Ethereum did not receive much speculation. Remember that in the previous round, whether it was the Shanghai upgrade or the previous Ethereum-ETC merger, ETC performed well. Therefore, it is also one of the relatively certain targets in the Ethereum series!
In the cryptocurrency industry, if you want to seize the opportunity of the next bull market, you need to have a high-quality circle, where everyone can huddle together and keep insight. If you are alone and find that there is no one around, it is actually very difficult to persist in this industry. If you want to huddle together or have doubts, you are welcome to join us - Gongzonghao: Guanguan Shuibi.
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