Expert talks hot topics:
This year's Christmas Eve really felt like a sudden fireworks show, with Bitcoin rebounding more than $6,000 from the trough in just 24 hours, almost breaking $100k again. Even altcoins danced in this atmosphere, showing significant gains.
However, the expert reminds us not to rush to celebrate the arrival of altcoin season; let's not forget the path of the market, where fluctuations are always within reason.
Looking back at the recent market trends, we can clearly see that although Bitcoin has driven the market sentiment upward, once the price retraces, altcoins quickly follow with declines. This inevitably reminds one of an old saying: prosperity leads to decline, and water rises to the boat.
The arrival of altcoin season requires not only the warmth of Bitcoin but also sufficient emotion and capital overflow. This is a feast where Bitcoin and Ethereum dance together. For the altcoin season to truly arrive, Bitcoin needs to rise steadily, and Ethereum must maintain a strong upward trend. The coordination of these two is the best driving force for emotion and capital.
But if both Bitcoin and Ethereum are retracing, who can still believe that this altcoin season truly exists? If we say it’s the climax of altcoin season, it may still be lacking. Imagine, as Bitcoin's pullback increases, the rise of altcoins may only be fleeting; this feast is far from reaching its climax.
Returning to the main topic, from Bitcoin's price data, yesterday's market panic gradually eased with the rebound and the approach of the holiday. The turnover rate in the last 24 hours has halved; although trading activity has decreased, early investors are still choosing to exit. This is especially significant for those short-term investors who entered at higher prices.
For investors with a cost basis above $95k, the recent 24-hour exit wave is their elegy. Especially for those who bottom-fished yesterday, they may have overnight become typical examples of 'catching the wrong bottom.'
As for investors who incurred losses above $100k, they are almost the targets of market cleansing, and these individuals are currently the focus of the market cleanup. Overall, the current support level remains firmly between $95k and $100k, although it briefly dropped to $92k yesterday, it still stabilized around $97k. The market's bottom support is not weak.
Reflecting on the recent period, the Bitcoin retracement after the Federal Reserve meeting indeed brought a low mood. The market continued to be weak, seemingly giving people the illusion that Bitcoin was about to collapse, but the overall trend has not changed.
For those who firmly believe in Bitcoin, as the ancient poem goes: 'Without experiencing the bone-chilling cold, how can one smell the fragrance of the plum blossoms?' Only by persisting through adjustments can one see the new opportunities.
Regarding the upcoming old T's handover, the expert firmly believes that Bitcoin will not significantly drop below $90k. Market fluctuations are always subject to change; when the market is hot, no one thinks of the bears. In the trough, one should remain low-key, focused, and do their own trading, without letting market noise disturb their pace.
Expert observes the trend:
As Bitcoin re-tests the $100K level, volatility may increase. It is necessary to observe whether the market can digest the selling pressure from short-term profit-taking while maintaining a bullish perspective.
Resistance level reference:
First resistance level: 98300
Second resistance level: 99500
Support level reference:
First support level: 97700
Second support level: 97200
Today's suggestion:
The short-term high has been touched twice, forming a double top pattern, and is currently adjusting. If the current closing price of 98.7K can break through the high again, further rebounds can be expected, and a re-test of the 99~100K range.
Due to being in a consolidation range after the rebound, the support is quite tight. If the first support holds, it can be judged as an area of raised lows, continuing to maintain a bullish outlook.
If the first support line is broken, since this is an area of raised lows, the second support line at 97.2K is crucial and must hold. If broken, set phased supports at 20, 120, and 60 days and attempt to engage in ultra-short trades.
As the trend has reversed, it is advised to continue maintaining a bullish outlook and look for entry opportunities in the retracement range. The double top pattern has already formed, and whether the performance of raising lows within the adjustment range holds will be the focus of the day.
12.25 Expert's segment pre-embed:
Long entry reference: 97200-96855 range with light position. If it retraces to 95755, go long directly. Target: 98300-99500
Short entry reference: 102800-104600 range with light position. If it strongly rises to the 106600-107700 range, go short directly. Target: 99500-98300