History does not repeat itself, but it always astonishingly resembles!
The market is consolidating instead of falling, small coins are experiencing a slow decline, and strong coins are correcting sideways.
Looking at historical trends, the first quarter of each year is truly the stage for explosive growth. December is just the consolidation phase to warm up.
This round of sector rotation is almost complete, and capital flow has entered a new cycle, first into Bitcoin, then into Ethereum, followed by leading coins, and finally into various small-cap coins experiencing a comprehensive surge.
This week, I believe many of you are feeling frustrated because the market has started oscillating again. It has oscillated for more than half a year this year, just recovering for over a month, and altcoins haven't all taken off yet, and now it starts oscillating again. Are you starting to doubt whether there will be big market opportunities ahead?
It feels like at most 30% of the entire market believes that there will definitely be a big market ahead.
Now that $BTC has entered December, it has started to build a daily level upward oscillation channel. Although the market has been oscillating and adjusting, the bottom price of the currency has been rising increasingly.
It can be said that #BTC is genuinely strong, maintaining a bullish advantage in the daily cycle. The support below is still in the 94000-95500 range, with strong support at 90000-91000.
Meanwhile, $ETH has also maintained strength recently, rising to the final weekly resistance of 4000 points before retracting back to the 3500 points line a few days ago, and it still needs to oscillate in this area.
The future market for altcoins is closely tied to #ETH, as there is a significant probability that Ethereum can follow Bitcoin in the latter half and potentially push the coin price to break through 10,000!
In this bull market, Bitcoin and Ethereum have been significantly influenced by the spot ETF, and the market liquidity is much fuller compared to the past. Only the liquidity and logic of altcoins still resemble their previous forms, so the altcoin explosion season will also follow a certain pattern under the overall market.
Christmas is a very important holiday in the West, and there are many settlements at the end of the year. So recently, there has indeed been some capital outflow, leading to a sluggish short-term market. According to past patterns, the market usually bottoms out around Christmas.
Altcoins have already rebounded significantly in the past month, so for those trading short-term, a pullback is a very good buying point. For medium to long-term holders, just hold on for the rise. For those wanting to increase their positions, please note that this is the last opportunity to buy before the big bull market erupts!
Next week on the 19th at 3 AM, the Federal Reserve will announce the December interest rate decision. The market expects a 99.99% probability of a rate cut, which is a clear positive signal. When this positive signal occurs, there will be considerable opportunities for market movement; at worst, it will take a few more days to continue oscillating and consolidating, while also flushing out weak positions and short-term high-leverage contracts.
So, overall, looking back, the market will still mainly oscillate in the short term, and some time is needed for oscillation and consolidation to build momentum before the big market opens!
Friends, hold onto your valuable chips, please be patient, we will definitely win, see you at the peak in 25 years!