My view on the market on January 8, 2025
I have said before that the market has risen too fast, so don't rush in all at once or go all in. As a result, the bigwigs on Wall Street suddenly changed their minds and said that there might not be a rate cut in the first half of the year.
Isn't it obvious that they want to use the news to expose those contracts with high leverage? The timing they chose is really amazing. Those contracts that chased high prices were basically wiped out.
Bitcoin is still strong, only falling by a little more than 6%, but those altcoins are miserable. Many weak altcoins have fallen directly back to the previous low price, and some have not even rebounded and have directly hit a new low.
Altcoins with insufficient funds can only continue to wilt, while the strong ones will become stronger and stronger. Don't think that a certain coin has reached the bottom just because it has fallen sharply. That is not necessarily the case.
It is still impossible to say whether the market has reached the bottom. We have to wait for the 4-hour chart to form a double bottom. No one dares to say that the current price is the bottom.
If we can't get a big positive line to cover all the previous negative lines, especially the price range of 970 to 973, then we can't confirm that the bulls have stood up again.
Pre-arrangement and being trapped are two different things. There is a support level of 944 to 949 below the current 4-hour, but whether it is the bottom or not remains to be seen.
Although I am optimistic about the market in early January, there will definitely be corrections and sharp declines when it rises. If the market rises too fast, corrections and sharp declines are inevitable.
For the next layout direction, I will lead everyone to aim at the profit opportunities of cottages. There is no problem with the expected space of more than 10 times. Like + leave a message, and take you to layout the entire bull market!
