After a rebound yesterday, Bitcoin and several altcoins experienced a small pullback, but everyone should not panic just yet, as it hasn't dropped to a new low and hasn't even tested the bottom again. I don't think there's much to worry about. Since it's the weekend and Wall Street is not operating, there's not much extra capital flowing in. We'll wait for the early hours of the weekend and Monday evening to see the situation, and then we can take a look; there should be a good chance for stabilization and further rebound.
As long as Bitcoin's daily line does not break the 93,700 level, the daily trend won't deteriorate, and the price trend will maintain daily fluctuations, so there's no need to worry too much about short-term declines. Many people see more downside potential, but it’s just that the low liquidity during the Christmas period next week could lead to a market decline. However, this week’s drop has basically cleared out the leveraged short positions, so we can look forward to the daily support situation.
In a bull cycle, every decline is for a better rise. A drop is not a real drop, but rather to accumulate strength for a higher point, and this type of decline is called an "ineffective drop." It’s been a while since I shared some levels, so today I’ll mention them for everyone to consider when bottom fishing!
Bitcoin
The maximum pullback point is at 92,000. As long as the closing price stays above 92,000, it’s all good. It’s just fluctuations within my realm. If it goes a bit more aggressive, going all in at 88,000 wouldn’t be a problem! BTC returning to 100,000 is just a matter of time!
Ethereum
Currently, there are two key points: the first is at 3,100, and the second is at 2,980. If the market continues to decline, 3,100 will become a reasonable rebound point; if the price experiences a rapid drop, just go for 2,980. This point holds significant strategic importance, and the market makers won’t let go of such a good level! Pullbacks are opportunities; hold it for 3 months for double long-term gains, with the Prague upgrade witnessing miracles.
The market over the past 20 days has been an unbearable weight for many retail investors. Unlike previous bull markets, this round has many operational challenges. Lying flat or making wrong choices could mean losing everything, so it’s essential to keep an eye on the market.
The cryptocurrency market is an extremely uncertain hellish place, so most of the time, I won’t provide specific levels or clear instructions; I’ll just share my views and remain relatively conservative. Of course, if it’s a relatively simple true or false question, I will still give advice.