Good afternoon, Tuesday, December 17!

✅️Market review and analysis

The market conditions of Bitcoin and CNY are basically the same as described in yesterday’s blog post. Bitcoin continues to break through and hit new highs. Up to now, the highest price of Bitcoin is around 107,790. The next position is to break through 110,000 US dollars. CNY also broke through the 4,000 mark and also broke through the high point of this round of market in the early morning, reaching around 4,107. Currently, the overall market is in a small retracement!

Next, the first goal of the big cake is to break through 110,000 US dollars, and the second goal is to stand firm at 4,000, and try 4,300/4,500/4,800 here.

During the day, the market continues to fluctuate. Many days recently have basically seen rebounds in the early morning and late night, with corrections during the day!

As of now, the market data price shows Bitcoin quoted around 106400 and Ethereum quoted around 4000.

Intraday resistance and support

BTC resistance 107000/107800/108800

Support 105800/105000/103800

ETH resistance 4040/4100/4180

Support 3980/3900/3820

✅️ Spot market and primary market

The primary market is still mainly focused on trendy concepts. In the next few days, pay more attention to the Christmas-related concept coins on the Sol and Bsc chains. December 24 is Christmas Eve, and there should be some new coins emerging. Everyone can keep a close eye on this!

In the spot market here, it is different from every previous bull market. The major coins are rallying, while altcoin spots are not following at all. Many coins are in a downtrend. Currently, besides a few strong coins related to Trump, the other spots are stagnant, with a 20-30% amplitude from the recent market peak!

Currently, in the market, besides a few strong coins like Aave, Link, Ens, and Ena, other altcoins still need to wait. No one can predict when the market will come. What can be confirmed now is that if the main market pulls back, altcoins will bleed profusely.

At this time, it is essential to be rational. This is also why Brother Yu has not been talking about increasing positions recently. Firstly, we already have enough positions. Increasing positions must wait for a clear trend and confirmation of an upward market. Moreover, we need to manage our positions well!

Of course, besides these coins, BGB's performance has been really good. It has become the most impressive exchange this year, continuously breaking new highs. Currently, BGB is quoted around 3.6, and the next big target is 5u here. However, Brother Yu does not recommend chasing it here!

What we can do now is not to open contracts, nor to look for coins that haven’t rallied. We should patiently wait and use other times to look for opportunities in the primary market!

Altcoins no longer have opportunities, but Brother Yu does not think so. The altcoin market cannot end like this. The major coin cannot keep pushing to 150,000 USD. There will definitely be opportunities for us to act in between, so we wait.