Recently, Bitcoin has continuously broken new highs, surging to 108,000 yesterday, then pulling back by 5,000 points.
It is still lingering at this position.
The bottom is at 102,000, which everyone can pay special attention to.
Many people predict that the decline cycle has begun again; from a technical perspective, we can indeed see the lower positions through support and resistance.
However, as the market has developed to this point, technical analysis can only account for 30% of the influence; more of it is about sentiment and Wall Street capital's buying behavior.
Because it's still the same saying: in a bull market, do not short; a dip is an opportunity to buy.
As long as the upward structure is not broken, we must remain bullish.
The continuous rise of Bitcoin has created a siphoning effect in the crypto space; if Bitcoin can consolidate at this position, it will undoubtedly provide an opportunity for altcoins to explode.
The next deciding factors affecting the market will not be on the technical charts, but on market sentiment and the intensity of capital entering.
Currently, the capital entering the market led by BlackRock is very decisive, with continuous inflows into ETFs, providing support for the market.
For retail investors, it's not advisable to chase high right now, as Bitcoin has risen too much; instead, the opportunity lies with Ethereum and other altcoins.
When operating, everyone should try not to open short-term contracts, as the current market is highly volatile and it's easy to hit stop losses.
2,
Currently, those on the bus are happy, while those who are not are suffering.
Because those who got on fear a retracement, while those who didn't fear missing out.
Our friends in the Thirteen circle are living well; holding long-term positions steadily like old dogs, regardless of how the market fluctuates, we hold firm.
Now that the market has dropped, the opportunity to buy the dip has come.
Some friends question, if it drops, I'll buy the dip, but I have no bullets; does everyone have infinite bullets?
This issue has been explained in detail in Thirteen's previous articles, so I won't repeat it here.
Just because you can't manage your position well doesn't mean others can't.
After the market previously rose, Thirteen clearly advised everyone to reduce positions to maintain a reasonable cash position. I hope this question won't be raised again; let's summarize our own experiences more.
With less than two weeks left in December, every retracement is a gift from above; be sure to seize it. Don't stubbornly hold onto a position; entering while the price drops is the most reasonable choice.
3,
I don't know when the market started saying that there would be a crash on Christmas.
Thirteen even specifically checked past data and found it to be completely a rumor.
In the past ten years during Christmas, there were 6 declines and 4 increases.
In the past ten years, the probabilities of rising and falling in December have been 50-50.
Therefore, the claim that the Christmas market will retrace is completely unfounded, and you don't need to scare yourselves.
There is indeed a piece of data that everyone can focus on, the starting point of the bull market came from Christmas, when Bitcoin and Ethereum both entered a 110-day frenzy bull market.
Bitcoin surged 185%, Ethereum 600%, Solana 4200%, BNB 2000%, Dogecoin 1900%...
Will this bull market actually start the real big bull market from Christmas as a time node? The probability looks very high at the moment.
Currently, the entire market is supported by macro quantitative easing policies, with ETF layouts at the mid-level and various positive data at the micro-level.
No matter how you look at it, the current market does not have the foundation for a deep retracement.
Because institutions are still rushing in, raising the market fair price of Bitcoin.
For example, Ethereum, which is currently underperforming, has most of its liquidity almost occupied by whales.
104 whales hold at least over 100,000 Ethereum, accounting for 57% of total liquidity.
Whales holding 10,000 to 100,000 Ethereum account for 33.4%.
The number of retail holders with less than 100 Ethereum has dropped to 9.19%.
This set of data indicates a serious problem: retail investors collectively have little confidence in Ethereum, while whales are continuously collecting chips from retail.
Considering the recent performance of Ethereum and various panic-driven statements, it is not difficult to see who the opinion manipulators behind it are.
The information between market makers and retail investors is not equal; when retail starts to collectively lose confidence, we should firmly hold onto our Ethereum and not let go.
Concentration of chips in a bull market can be seen as a significant positive, making it very easy to push up the price.
At that time, retail investors can only chase high prices to enter.
