A new week is a fresh start, brothers! In the Bitcoin market, we have just witnessed a breakthrough in the all-time high. So, will Bitcoin continue to hit new highs? Let's discuss it from the perspective of data analysis, market trends and strategies for this week.
Data analysis: market changes and risks
Recently, the price of Bitcoin has broken through the $105,300 mark, attracting a lot of attention. According to the latest liquidation data, we can see that if the price of Bitcoin falls back to around $100,500, the liquidation pressure of short positions will reach about $1.148 billion. On the contrary, if the market price breaks through the $107,500 mark, short positions will face a liquidation risk of about $287 million. These data remind us that in this highly volatile market, there may be large adjustments in the short term, but there may also be a rebound at any time.
Market trend: Overall bullish, short-term resistance level around $107,500
From the current market trend, the overall market still shows an upward trend, especially in Bitcoin and Ethereum, the two major cryptocurrencies, where the overall situation remains strong. According to the current technical analysis, the short-term upper resistance level for Bitcoin is around $107,500, which is also a key position in the market. If this level is broken, it may continue to rise; if a pullback occurs, the lower support level is approximately at $100,500.
In addition, the trend of Ethereum is also worth paying attention to. Currently, the short-term upper resistance level is around $4080. If this level is broken, ETH is expected to continue to rise. Meanwhile, SOL has shown relatively weak performance recently, with the short-term upper resistance level around $233. Therefore, SOL's performance needs to be particularly monitored; there may be a consolidation trend in the short term.
This week's analysis: The overall market still looks bullish
This week, my personal view remains bullish, expecting the overall market to fluctuate and rise between $100,000 and $113,000. Bitcoin is expected to maintain an upward trend, while Ethereum will fluctuate upwards between $3,800 and $4,200. As for SOL, although its performance is relatively weak in the short term, the overall price is expected to fluctuate and rise between $200 and $245, with the overall trend still upward.
It is important to note that this week's market news is particularly critical, especially the Federal Reserve's interest rate decision. If the Federal Reserve's decision aligns with market expectations, it may positively impact the overall crypto market, leading to continued price increases. At the same time, with the New Year approaching abroad, there may be a lack of significant news stimuli in the market, which means that market fluctuations may decrease. However, if the market experiences a significant pullback, it could also be a good opportunity to build or increase positions in the spot market at lower levels.
Spot strategy: How to respond to the current market
In the current market environment, those of us trading in waves can consider adopting some flexible spot strategies. Here are some personally recommended spot trading suggestions:
Public chain cryptocurrencies:
APT can be bought in batches around $13.5, with a target profit at $20.
VET can be bought in batches around $0.057, with a target profit around $0.08.
Other potential coins:
NOT can be bought in batches below $0.0081, with a target profit around $0.01.
Balancing short-term trading and long-term holding
Short-term strategy applicability: These spot strategies are suitable for short-term trading, but can also be considered for holding longer during a bull market. The volatility in the crypto market is significant, and short-term price fluctuations do not represent the market's final direction.
Altcoin selection: Currently, there are many high-quality altcoins in the market. Although they cannot all be listed, you can focus on some potential coins by filtering popular sectors. Appropriate diversification can also reduce risk.
Floating losses do not mean you have to cut losses: During significant market fluctuations, floating losses are common. At this time, investors need not panic but can consider increasing positions at lower levels. The long-term potential of the crypto market remains substantial, so buying on dips may be a good strategy.