The starting point of this round of rise is the positive news of ETF. The SEC has just announced the postponement of ETF application. How long will BTC continue to rise?
The trends of the past two years are very similar to those of 2016 and 2019, with double tops at the top of the bull market and double bottoms at the end of the bear market. It can be seen that BTC is now in an upward trend similar to that in August 2016.
I have the impression that the correction in 2016 was extremely fierce. Various small-coin altcoins rose more than ten times within two weeks, and then fell back to the starting point within a few weeks. Most people were left hanging on the top of the mountain just after they finished shouting about the bull market, and then they switched hotspots and continued to chase the rise. Therefore, it is necessary to control the risks of small coins.
Paypal released the stablecoin and publicly stated that the stablecoin can make payments faster, cheaper and more global. In fact, for Paypal, the introduction of stablecoins may not be a good thing, or even a big trouble. It may not make money, or even cause trouble.
But as Paypal said in 20 years, their vision is: financial inclusion for the general public, which just happens to overlap with Satoshi Nakamoto’s original idea, so they were the first to introduce wallets, transfers, and transactions, and now they are going to launch stablecoins and participate in the NFT trend.
I vaguely remember that the vision of a certain public chain in 2017 was: decentralization and globalization, and finally the project owner realized his vision.
The coins were falsely claimed to have been stolen by hackers, the hacker was wanted worldwide and had fled, and the coins were directly removed from the shelves.
Every round of BTC's production reduction feeds countless garbage. Whether it is Paypal or Grayscale, their tenacious figures stand in the front and allow those garbage to live for several more years.
What is interesting is that these garbage always like to turn the tables. The public chains that got money from ETH financing in 2017 are shouting that they are ETH killers and listing the shortcomings of ETH.
The zoos that made money from the popularity of SHIB in 2021 said that they are the real valuable currency and that SHIB has no application scenarios at all.
After 24 years, there will definitely be copycats who blame Satoshi Nakamoto for making BTC too big and too slow. So you must buy the leader and never touch these blood-sucking garbage.
BTC：
BRC20 is hot, and BTC active addresses hit a new high, which supports BTC. BTC rebounded after recovering from the decline, and faced resistance to rising. The upper $37,677 is the key point of the gate resistance. Only when it stands firmly at $37,677 can it enter a rebound. The top of the hourly line is lowered, and further bottoming is needed. Next, BTC fell back and tested $37,133.
Resistance: 37677, 37972, 38256
Support levels: 37133, 36756, 36425
ETH：
SEC postponed ETH ETF, which had a negative effect on ETH expectations. ETH fell back and entered a volatile trend. ETH made a U-shaped rebound and faced resistance from the upper box. The upper resistance line of $2066.5 is the key point. Only by standing firmly at $2066.5 can it enter a new round of upward trend. Next, ETH will test the bottom at $2034.6.
Resistance: 2066.5, 2092.8, 2123.4
Support levels: 2034.6, 2009.3, 1976.5
GAS：
GAS was the first to rebound against the trend. With the support of bulls, GAS stood firm on the 5-day line and rebounded. GAS rose and fell several times, confirming the box resistance formed on November 13 and November 15. Only by rising quickly and breaking through $9.77 can it enter a compensatory rise trend. Next, GAS peaked at $9.77 and fell back.
Resistance: 9.77, 10.75, 12.34
Support levels: 8.95, 7.93, 5.3268
The mainstream is making a U-shaped rebound, and the short sellers are increasing their selling efforts. Avoid chasing highs and be wary of the risk of a downward move.
