Over the weekend, BTC continued to slightly pull back below 95K. Starting from yesterday evening, it began a new wave of decline, with a minimum drop to around $93,000 this morning at 06:30, marking a nearly one-week low. Since December 17, Bitcoin has adjusted for 12 days. Although the extent of the adjustment is relatively limited, in terms of time, it seems to be nearing its end.
In terms of altcoins, meme coins and AI concepts are still active. However, ACT saw a significant decline yesterday, and its market capitalization is not large. Compared to other projects, it resembles a meme coin dressed in AI. After all, the founder's attitude towards it is relatively negative, mainly relying on community support. However, most of the time, fundamentals are often difficult to influence market trends, and whether to pump the prices is mainly controlled by the market makers.
Recently, Ethereum's trend has completely strengthened, with the daily chart showing the K-line oscillating upward. The lows of the pullbacks are getting higher, gradually showing a trend of recovering MA60. Its MACD also has a shrinking system below zero. Once the turning point heads upward, Ethereum will challenge the 3600 resistance level. In short-term trading, any pullback is an opportunity to buy the dip with spot trading. Recently, if Ethereum can pull back to around 3300 or lower, it would be a good opportunity to accumulate spot positions.
BGB has dropped nearly 20%.
Did the bros escape the peak this time? But when everyone and every group is discussing, and a bunch of teachers start showing their on-chain profit charts, it makes me a bit anxious. Is this a short-term peak signal? At least for $BGB, I correctly ran with this signal.
I continue to have a long-term optimistic view on the potential of the AI Agent track. Looking at $Ai16z, $Virtual, $Aixbt, etc., I believe they will continue to explode. I also believe that $BGB is not at its peak yet, but 'buy where no one cares, sell when the crowd is loud.' Even if some positions are traded with slight losses, it's still decent to make a profit.
Realized some on-chain profits and placed limit orders for targets I am optimistic about.
As 2024 is about to close, the performance of Bitcoin in the fourth quarter is similar to that of the fourth quarter of 2016. Historically, after a halving, in the first quarter of the following year, Bitcoin tends to continue its upward trend. This was the case in 2017 and 2021, and I believe 2025 will be no exception.
