Foreigners celebrate, the market is a bit cold. Last night, BTC stabilized above 94k, but further observation shows the market is no longer following the decline; thus, the mindset shifts to bullish, and once a daily bearish candle appears, we start to layout for spot trading.
Reviewing yesterday's thoughts, by comparing ETH and BTC, as well as the decline of altcoins against ETH, we find that the market is no longer following the decline. We take advantage of BTC's drop to buy low, and profits are the expected result within the system, perfectly aligned with expectations.
Looking at the chart, Bitcoin still shows signs of a secondary bottoming and gradual stabilization. The expected oscillation and pullback will likely take about two more weeks to conclude, and there is a low probability of breaking through 108k again in the near term, but it can still test 102-104k.
Currently, whether or not this is the absolute low point in the short term, the price is considered low for this period, seeing prices over 90 and up to 100. The price of 94k is relatively suitable, with space above 10,000 points. If being cautious, one can wait for Bitcoin to complete bottoming near 92-93 before entering; if being more aggressive, now could be a good opportunity to enter on the left side. I expect the market to welcome a new round of rises starting in mid-January.
Is the familiar feeling of a bull market returning? For altcoins to rise, we need Bitcoin to drop. A few days ago, Bitcoin's pullback brought down altcoins; when Bitcoin dropped a point, altcoins fell several points or even more than ten points. However, yesterday when Bitcoin dropped more than two points, most altcoins no longer followed the decline, and Bitcoin's market share has also decreased, which is a good sign. Currently, the altcoin season has begun to heat up, and the sharp drop before Christmas has created entry points, so it's essential to find good targets and enter in batches. Over the past few days, I have also guided everyone to target several good coins. Even friends who just read my article yesterday (Is Bitcoin crashing again? Is the altcoin bull over? Buy the dip, buy more as it falls! Can HYPE still be chased?) can still benefit from today's rising coins. Finally, a few strong candidates: AAVE: AAVE has been viewed positively by major institutions since the beginning of the year, especially by U.S. President WLFI. SUI: SUI, as an independent main chain, still has considerable potential. Its advantages include high performance and strong rebound capabilities within the SUI ecosystem. The ecosystem has always been very rich. ONDO: ONDO has a smaller rebound range, but due to its endorsement by large institutions like BlackRock, its long-term investment potential is significant. ONDO's market performance is very stable, suitable for long-term holding. Link: As a well-known blockchain project, Link's recent rebound has been limited, but its fundamentals are very solid. Especially with recent support from important institutions like presidential wallets, it still has large growth potential in the future. Doge: Dogecoin, as a long-term focus coin, despite its gains and rebound strength not meeting expectations, still has strong market appeal due to support from celebrities like Elon Musk. Recently, Dogecoin's price experienced a significant pullback, but its price is close to the bottom of the rising channel; thus, long-term investors may consider buying at the current price range. Especially with the approaching bull market in 2025, Dogecoin's market performance may welcome new opportunities.