2024/12/26 Night Line Perspective

Hello everyone, I took a look at the market in the evening. Basically in line with expectations, there was no significant inflow or outflow. It's a state of declining trend + sideways movement.

The current situation for Bitcoin isn't too problematic, but it's quite damaging for altcoins. Those who bought the dip at previous lows have seen significant profit withdrawals, and those who chased the altcoins are now stuck.

Guessing the bottom and going long does indeed carry this risk; it's hard to determine the bottom. I hope you are entering the market in batches rather than going all in.

Bitcoin has not yet formed an overall bad pattern; it has been moving close to the line. What needs attention is that if the red line is broken and stays below for one 4-hour candle, it will start to re-test the bottom. The probability of a new bottom being around 933 is relatively high. For those with unsuitable positions, it's better to change positions than to hold on stubbornly.

Ethereum, after breaking the slope line, is currently consolidating at the previous support-resistance exchange point. If it cannot hold here, the probability of testing the bottom at 3265 is high.

Solana is similar, with two potential lower positions at 186 and 180-181, with the 180-181 range showing relatively strong support.

However, it’s understandable; after all, who wants to trade during the “New Year” period?

Let’s hold on for a few more days; after the holiday, the market will return to normal trends.

Currently, before mid-January, there are no major negative factors within my knowledge. Unless there are sudden events, even during a downward trend, there will be a period of upward movement. This upward movement will be enough for friends stuck halfway up to break even. Those who are at previous highs will likely have to endure for a while longer.