After BTC broke through 100,000 USD with increased volume on December 12.5, it showed signs of upward fatigue. Reviewing this wave of bull market, the trend structure of BTC can be clearly observed. The oscillation range within the pink box accumulated energy, followed by a five-wave explosion that established the tone of the bull market, subsequently driving the surrounding altcoins to surge. As the market's expectations for the bull market gradually materialized, BTC began to rise in a channel-like manner, while a MACD top divergence appeared.

After the doji star formed on December 17, which reached a new high, it basically established the beginning of a significant pullback. Both the speed and depth of the pullback have been quite strong, and the current price has broken through the upward channel line and is gradually approaching the MA60.

Regarding the market situation ahead, my personal views are as follows:

First, for a variety like BTC, at the end of the year, and with external event expectations basically realized, it is difficult to see significant opposing driving forces.

Second, during BTC's pullback process, most external cryptocurrencies have approached or broken below their starting points, and a pattern of easy rises and difficult falls has recently emerged.

Therefore, it is more likely that various cryptocurrencies led by BTC will oscillate around the red line before choosing a direction.

During the Christmas period, trading volume and volatility have noticeably decreased. Once the holiday ends on the 25th, new wave trends will form. Follow me for ongoing market analysis and observations!