Bitcoin could bounce back at the marked yellow line, but it is important to keep in mind that, although it has shown a significant rise on the daily chart, it has not yet confirmed a clear breakout on the weekly chart. We are now observing what could be the confirmation of that resistance breakout.
This analysis is not investment advice, and like any other analyst, I could be wrong. However, the odds of this scenario coming true are 78%. Looking ahead to January 20, when Donald Trump assumes the presidency in the United States, a surge in the price of Bitcoin is expected, as well as a boom across the entire crypto ecosystem.
From now until the end of the year and during the first half of January, it is likely that we will see consolidation in the strongest cryptocurrencies. Some altcoins may experience significant drops, but this does not imply the start of a bear market, rather a necessary stage of consolidation. As in any market, there will be projects that weaken more than others, but those that remain strong are the ones that will have the greatest potential in the future.
Instead of selling in panic, it is important to stay firm (HODL) and trust in the projects you have invested in, as long as a detailed analysis of their fundamentals has been conducted. This is key to making informed decisions and avoiding impulsive reactions.
