#比特币市场波动观 12.23 Market Overview:
$BTC Bitcoin closed this morning with a solid bearish candle, and the weekly chart shows a large bearish candle forming a bearish engulfing pattern with last week, which is a bearish engulfing pattern, fortunately, the weekly chart did not break the previous low; a new week begins, and this week is quite torturous. First, the market will close 3 hours early on Christmas Eve, and will be closed for one day on Christmas, with insufficient liquidity, the market is expected to fluctuate downwards as the main trend.
Bitcoin still has not escaped the descending wedge pattern of the upward flag, continuing to consolidate in a narrow range within the channel; it’s not the spike that is scary, but the daily downtrend that is hard for ordinary people to accept, especially with high leverage contracts it’s very uncomfortable; it’s not scary if you can’t earn coins in a bear market, but it’s really a hard truth if you lose money in a bull market.
In this round of the bull market, there are three types of people: The first type is new investors who have been driven by the MEME wealth effect and surged, making money from MEME in early and mid-November; the second type is those who fear heights, as Bitcoin continues to reach new highs, they keep guessing the peak, leading to hesitation and lack of action; the third type combines news and technical analysis to trade, profiting significantly from the one-sided market.
Bitcoin is now continuing to consolidate, and altcoins dare not move, watching Bitcoin's performance; if Bitcoin drops by 1000 points, altcoins should at least start from 10 points if not shaken; Bitcoin’s current signals still suggest a second retest, estimated to reach the 90K limit; altcoin spot traders should wait for Bitcoin to pull back to around 90K or stabilize on the right side of 100K before entering, don’t worry about not being able to buy spot as it’s just a fear of picking up with full hands of chips; for contracts, still hold your hands and observe, or set proper stop-loss when opening positions.
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