24/12/12BTC perfect prediction of the market maker, ETH rebound tests the upward trend, with interest rate cuts approaching, how to grasp the market situation?
On the 9th, we analyzed that a second rebound at 101898 would be under pressure and would test the support at the bottom of the upward channel and the second probing. The market rebounded more than 7000 points yesterday, again touching 101888 under pressure. Ethereum saw a pin at 3509 after rebounding 430 points, also re-entering the upward trend.
Two major pieces of news regarding Google's heavy release of the quantum computing chip 'Willow'. Many people are worried about its impact or threat to Bitcoin. To crack Bitcoin's encryption algorithm, a quantum computer with about 13 million qubits would need to complete the decryption in 24 hours, while the Willow chip has only 105 qubits, thus there is still a long way to go.
Moreover, cryptocurrencies are increasingly becoming mainstream, and more countries and regions are allowing ETFs, especially since large corporations like BlackRock are getting involved; there must be their reasons. Technology will surely continue to innovate, and cryptocurrencies will also continue to evolve. In the future, BTC could upgrade to be quantum resistant, but this is not something we small investors need to worry about; in the short term, we don't need to be concerned for the next ten to twenty years.
Additionally, after waiting for over half a year, OpenAI launched the game-changing Sora, which officially went live, causing the website to crash due to high traffic. Ultraman urgently closed user registration, but the feedback has been average and not as stunning, yet this does not affect the hype around the AI sector.
Bitcoin
Bitcoin surged more than 7000 points yesterday, this wave was perfectly predicted and reminded multiple altcoins to buy the dip, yielding very good profits. The upward channel saw a pinbar rebound below, and currently the market rebounded to touch 101888, under pressure and remained below throughout the day.
The daily BOLL is showing signs of opening, the price line touches the BOLL middle track under pressure, and if the MACD histogram shortens, there may still be a chance for a rebound if the fast and slow lines can cross above the water. Pay attention to whether the RSI indicator can break through.
Summary: Overall, we are seeing a fluctuating upward trend, currently testing the resistance at the 102000 level; a breakthrough could give an opportunity to continue reaching new highs. As for the future, if it pushes up to 107000—113000 and then drops, caution is needed, as the upward momentum has somewhat been exhausted during this period.
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Ethereum
Although it dropped more than ten points in the past two days and broke the upward channel, it crossed below MA20 and then recovered. Today, the price line has again returned to the trend, and the market continues to look bullish.
As of the time of writing, the price has touched below the M head, indicating short-term pressure here, and it was previously mentioned that it would test the resistance at the previous high of 4093 two to three times. This wave, we also alerted to enter on the right side at two pin bars at 3509, and the returns have been good.
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SOL is operating in the expected daily descending channel, having touched the lower channel and rebounded the day before yesterday, currently we are watching whether it can break through the upper channel.
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