December 16th Old Veteran Talks About Coins

Market Review and Analysis

Last week, the overall closing was relatively good, with Bitcoin's weekly closing showing a bullish pin bar, and today it has reached a new high again. The second coin's weekly closing was a small bearish pin bar, and it has once again appeared above 4000 today. The altcoin market's upward momentum is not very strong, and the overall market activity is decreasing. Looking at the overall closing of altcoins last week, it can be considered acceptable, not a very poor market; however, in terms of phase performance, it is not that strong, so it appears that altcoins are relatively weak. The rebound of the second coin today has not directly guided the strength of altcoins; they seem to be in a wait-and-see market. Overall, altcoins have not yet recovered from last week's decline. The second coin today has undergone a corrective trend to push to new highs. At this stage, we are waiting to see when altcoins will once again increase in volume to keep up with the trend of the second coin.

This Week and Today's Highlights

There is no need to pay too much attention to Bitcoin's market; the main focus is still on whether the second coin can break this year's new high position this week, thereby driving the trend of altcoins. According to the current trend of Bitcoin, we should watch for the support level in the range of 97000-100000 on the four-hour chart.

On the four-hour chart, ETH is currently moving up following Bitcoin's trend, also showing a bullish pin bar, but the four-hour chart has not yet closed. In the daily trend, according to the four-hour support defense level, it is still in the range of 3760-3800. The effective support level on the daily chart is in the range of 3600-3700, which is currently a challenging level to reach during the day. Moving forward, we will see if the second coin can strongly break through this year's new high position; if so, it can directly drive the overall market trend and market activity, and altcoins will collectively follow suit.

The few altcoins we have been continuously monitoring have not changed recently:

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