12.16 Market Analysis
BTC:
Since the election, Bitcoin has risen for seven consecutive weeks, marking the longest winning streak since 2021. From the weekly chart, Bitcoin shows a clear upward trend;
The daily chart indicates that since the 5th, the price has been oscillating between $95,000 and $102,000. After a ten-day consolidation, this morning it reached a new high again, with three consecutive daily gains signaling that a new round of price increase is about to come. The 4-hour chart has been steadily rising since the 11th, with an increase of over $10,000.
In terms of operation, the short-term support level is between $103,500 and $102,500, with a target looking towards $110,000.
ETH:
Although the weekly chart has a long lower shadow, it successfully regained lost ground after a morning surge, maintaining an upward trend. The daily chart has not yet shown a breakthrough increase, but the weekend adjustment has laid the foundation for this week's rise.
The 4-hour chart has been oscillating in the $3,850-$4,000 range for four days since the 12th, with five consecutive daily gains. Although there was a slight pullback in the morning, it still has upward potential around $3,920.
In terms of operation, look for bullish opportunities on dips, with support between $3,920 and $3,880, targeting $4,000. If the daily closes at this level or above, the market is expected to restart.
Altcoins:
The Trump family crypto project WLFI has drawn market attention, with strong performances from AAVE, LINK, and ONDO (which saw an increase of 18% this morning).
AAVE and ONDO belong to popular RWA (Real World Assets) tokens, and RSR from the same sector can be observed.
The oracle sector's LINK is oscillating at a high level, and TRB can be monitored.
Artificial intelligence sector tokens FET and WLD are worth paying attention to;
In the gaming sector, SAND, YGG, and GALA still have upward potential after adjustments.
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