Bitcoin just broke a new high yesterday, and this morning it broke another new high. It seems I was right yesterday; after breaking new highs, it won't deviate much and will focus on solidifying and consolidating. Most mainstream coins are also fluctuating slightly. This type of market is the most annoying and difficult to operate in, with high positions and low trading volumes. Will altcoins rotate? Long and short game, let's analyze the likely direction ahead. This article is just a personal review and does not constitute any investment advice.
Bitcoin's new high doesn't look good; I predict it will consolidate around $105,000. There hasn't been a big bullish candle, but the overall K-line is still quite strong, in an extremely bullish state. Without significant volume, it is still necessary to be cautious about a potential pullback. The probability of a quick rise in the short term is low. This level is still not suitable for opening contracts or accumulating coins. If it falls below $100,000, it may be worth gradually picking up bargains. $BNB is expected to fluctuate in the range of $700 to $740. When Bitcoin rises, BNB generally tends to perform weakly, making it more suitable for spot trading in a range. $ETH is expected to consolidate around $4,000. It performed strongly yesterday, especially during the time when Bitcoin just broke its new high. As long as Bitcoin doesn't sharply decline, Ethereum may rise to new heights.
Looking back at today's daily $BTC market analysis, from the K-line perspective, there is a stop-fall phenomenon at the 1-hour level, an upward trend at the 4-hour level, and an upward trend at the 12-hour level, with a daily upward trend. The intraday resistance is at $109,000, and support is at $103,700.
Currently, the rise of altcoins is not obvious, only the Ethereum ETF market is gradually expanding. It should be noted that if the market adjusts, and the decline of altcoins is relatively small, then it may be worth considering moderate buying. However, it is clear that the arrival of altcoin season does not mean that your coin will also rise, nor does it guarantee that you will make a profit and exit smoothly.
Therefore, it is very important to plan ahead: this includes choosing which coins to buy, whether to choose spot or contracts, how to allocate positions, how to take profit during upward movements, when to withdraw, and whether to continue holding or sell to chase after other coins have risen. Also, leave some positions to respond to unexpected situations.
Make good plans, enhance execution, and then wait patiently for opportunities to come. I hope everyone reading this article can achieve a doubling of their investments in this bull market, and even have the chance to reach five, ten, or a hundred times returns.
This week's major events:
On December 16, the BTC scaling solution Stacks opened the BTC deposit function, marking the first phase of sBTC deployment;
On December 19, the Federal Reserve will announce its interest rate decision;
On December 19, Powell will hold a monetary policy press conference;
Trump's crypto assets project has bought new assets, mainly including: leading DeFi applications and RWA, with the latest four tokens being AAVE, Link, ENA, and ONDO. If you're not buying coins, following the president's lead should not result in a loss.
After Bitcoin broke $100,000, the crypto market quickly bet on the arrival of altcoin season, with funds starting to return to the NFT market, stimulating multiple NFT projects to rebound. The floor price of Pudgy Penguins NFT surged over 55% in a week, while Mocaverse's floor price broke through 2.9 ETH.
Since its launch in 2021, Pudgy Penguins has captured the crypto community with its 'cute penguin' image. Its IP is not only popular in the virtual market but has also quickly gained visibility in the offline market through partnerships with global retail giants like Amazon and Walmart.
According to CoinGecko, the floor price of Pudgy Penguins has surpassed 32 ETH, reaching approximately $122,000, setting a new historical high.
Pudgy Penguins will break out in this bull market, mainly because the project team announced on December 6 that they will launch the official token PENGU on the American blue-chip public chain Solana. As soon as the news broke, the floor price quickly skyrocketed.
Not only are Pudgy Penguins surging, according to OpenSea data, the well-known NFT series Mocaverse has recently seen its floor price break 2.9 ETH, approximately $11,860, with a daily increase of 79%. The floor price reached a maximum of 3.49 ETH, which has attracted significant market attention.
