Share the current market analysis.

Weekly:

Last week formed a bullish candle with a lower shadow, indicating strong support below. The trading volume compared to several mainstream exchanges has significantly weakened. It broke through the historical high, and it can be clearly observed that the magnitude of the breakout has been decreasing since the bullish candle on November 18. The high point of that week was 99800, and by December 2, it broke a new historical high of 103647, with a breakout magnitude of 3.85%. On December 9, it once again broke the historical high reaching 105149, with a breakout magnitude of 1.45%. Under the gradually decreasing volume, there is a probability of entering a consolidation phase, but the good news is that there are currently no obvious reversal signals. It can only be said that the rise is not very healthy and there is a probability of entering an adjustment phase.

Daily:

On December 9, it fell to the symmetric triangle support zone, where the support held up. On the 11th, it quickly recovered, indicating that the support has been validated. This morning it closed with a shrinking bullish candle, breaking the historical high. Currently, there are no obvious reversal signals, but there are signs of a divergence between volume and price. Next, we will observe the subsequent K-line to increase the basis for judgment.

Summary:

The weekly trend background is in the mid-bull market, having broken through the historical high, and so far no obvious reversal signals have appeared. The magnitude of the rise is weakening, and the volume is gradually decreasing, making the rise unhealthy, but this does not mean it will not continue to rise. It can only be said that there is a demand for adjustment, and we will observe whether the subsequent K-line volume increases.

The daily level is in an upward trend, confirming the support zone and then continuing to break the historical high. Currently, there are no reversal signals, and we will observe the subsequent K-line to increase the basis for judgment.

Last week, Bitcoin had a slight fluctuation, but altcoins experienced a rapid spike. Most altcoins had a fluctuation range of about 25-40%, so the probability of the altcoin correction ending is relatively high. Bitcoin has already broken through the historical high, and altcoins may need time to brew before they can continue to break through and stand above the previous high points. With the anticipated correction in place, the subsequent rise will be healthier, looking forward to next year's market.