24/12/25 BTC second test rebound reached 100,000, re-testing the upward channel resistance. Can the altcoins' sharp rebound continue?
Bitcoin surged 5000 points last night, reaching a high of 99487, which is also near the previous resistance. After Bitcoin broke the upward channel, it rebounded to test the resistance again. This is also below the middle track of BOLL, so the next few days are quite critical. If the rebound cannot effectively stay above 102000—103333, it cannot be ruled out that there will be another downward move.
On Christmas Eve, the US stock market rebounded strongly, with all three major indices rising. Cryptocurrency concept stocks rose broadly, with Coinbase up 4.28% and 'Bitcoin holder' MSTR up 7.81%. Historical data shows that since 1950, during the last five trading days of the year and the two trading days before the New Year (the so-called 'Santa Claus rally' period), the average return of the S&P 500 index is far higher than the market average seven-day return.
Bitcoin
The daily BOLL of Bitcoin touched the lower track and rebounded. It also rebounded after the second test at 92232. Currently, it depends on whether it can effectively break through the 100,000 neck line. On the 23rd, it was mentioned that Bitcoin and Ethereum both have a bat pattern. Today, as long as Bitcoin's bottom does not break, it looks towards below 103333, and Ethereum at 3800. If it falls below and rebounds around 9:30 last night, it has had a chance to quickly rebound by more than 4000 points.
The 4-hour downtrend line has been broken, and it is currently testing the 99500 neck resistance. If it breaks through, there is a chance to complete the bat pattern. If it cannot break through, there will still be a downward wave C.
Support:
Resistance:
Ethereum
Yesterday also rebounded by 6 points, reaching a high of 3539. Similarly, if Ethereum breaks the neck line, it has a chance to complete the bat pattern at 3800. At the same time, note that if it cannot break through 3555—3600, there will also be a descending wave C testing the previous low support.
Support:
Resistance:
