BTC sizzles hot after disappearance of bear news, rising to neighbouring 58,000. Besides, BTC futures swap stood high above 573,00 yesterday, indicating that it has effectively broken above its crucial resistance and may try to touch a record new high of 65,000. It is proper to buy long even in a correction callback. Reducing the position or stopping loss is recommended when BTC plunges under 57300 in short term.
Though the former performance of ETH shared similarity with BTC, it now has its own trend without following the volatility of BTC. ETH has shown a major positive line with a close price above 3800. If the slight retracement today is confirmed, ETH will be kept bullish. Investors could buy long and stay bullish if its price is still above 3800 after retracing back with a short-term goal keeping a new high.
The news that Polkadot is now technically capable of supporting its first parachains, announced by Polkadot founders Gavin Wood and Robert Habermeier, was followed shortly by a motion for Polkadot Council to open up the network’s first parachain slot auctions, proposed to begin on November 11th, 2021. Users need to use DOT token to vote for each project while dots obtained from the successful bidding will be locked, which reduces later circulation and will undoubtedly increase the demand for DOT, signaling a bullish trend and pushing a price gain. As changes may still exist during this period before official auction, investors could buy DOT in batches when the price retraces back. As for short-term operation, it is advised to buy in at low while sell at high points within the range in the picture above.
As a star of game industry, AXS has been hitting new highs. However, it currently shows a sign of retracement. As ETH and BTC are showing a strong momentum at present, investment may possibly flow back to mainstream coins. As a result, game coins such as AXS is likely to drop. In terms of operation, it is recommended to sell short at high within the range and stop loss if it breaks out the range.
Current LTC shows rather slight pace in rise comparing with BTC and ETH. Its rise turns out be a forced result following other mainstream coins. Now the short-term resistance ahead is above the current price. If BTC retraced back, LTC will slump further. Therefore investors can sell short in short time around the resistance and stop loss when LTC plunges below the resistance, As for long term operation, it is not recommended to sell short at current price.Instead, I deem it more proper to buy long on LTC as there may be sharp rise in the following outlook.
Captain wowo,guest commentator of Fish.Pro,has 4-year rich experience in investment practice of both stock and crypto market.Focusing on spot transaction,Captain wowo is proficient at analyzing macro policies and market interpretation and has his own stable trade modes with profound understanding of long-term trades and short-term taste.
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