December 11, Wednesday, Good Afternoon!

✅️ Market Review and Analysis

Here we can only say it's the first day of consolidation after the altcoins' sharp decline, as Bitcoin and Ethereum have not dropped much, with Ethereum showing a bit more of a pullback. As of now, Bitcoin is quoted around 97,500, and Ethereum is quoted around 3,650. It is very likely that Bitcoin will still break through 100,000 USDT, however, many altcoins may not follow!

In this market, the oscillation continues, with Bitcoin having strong support at 94,000 and Ethereum at 3,500. As long as these levels hold, the market outlook remains positive. This round of market fluctuations will not be deemed over just because of one washout; it won't mean that the bull is gone and the bear has arrived!

Resistance and Support

BTC Resistance 98,000/98,800/100,000

Support 96,800/95,500/94,000

ETH Resistance 3,680/3,750/3,830

Support 3,640/3,580/3,500

The possibility of a direct rebound in the short term is low; if there are spikes, taking profits of one or two points is advisable!

✅️ Spot Market and Primary Market

This round of decline has had a significant impact on every sector, reducing the earning effect in the primary market. Yesterday, Binance delisted the inscription zone, which also impacted the entire inscription market, with Ordi topping the list of declines. Perhaps this is a form of negative washout.

In the spot market, almost all altcoins have retraced about 20-30%, except for a few recently launched new coins. However, the volatility is too high, and those who participated in airdrops indeed made profits, but in this market, secondary investors are hesitant to take on large funds!

However, the only strong player in this round of market is BGB, which has risen to 3 USDT. The next target is 5 USDT. This centralized exchange has developed the best, fastest, and most stable in this round of market!

Currently, the market is unstable, so for now, Brother Yu believes that there is no need to add positions. The rebound is too weak.

Maintain your positions; here you must hold back, especially when opening long positions. Many friends find it hard to resist, but you must endure!