After reaching 108,400, the pancake has continued to decline. Yesterday, my review article already reminded that when a slight increase replaces sideways consolidation, one should be wary of a pullback following a blood-sucking rally. In fact, as long as there is no crash, the current decline of a few points is beneficial for the long-term bullish development of the market, as some profit-taking needs to be realized. If you are liquidated after only a few points of decline, you need to seriously reflect on your trading strategy. If you cannot learn from being liquidated, you will continue to face liquidation in the future. Furthermore, I also warned yesterday that it is not advisable to open contracts at this level. Next, let's discuss the market development and preliminary signals of a bottoming out.
There are no significant changes in Bitcoin's fundamentals. Yesterday, the understanding king called out favorable news, and institutions are continuously increasing their holdings. It is expected to consolidate around 100,000, with a long-term upward trend still in place. This decline lacks volume and can be seen as continued consolidation within this range. A solid foundation is necessary for further increases. On this basis, if the price dips below 100,000, one can gradually enter the spot market until reaching 85,000.
As for BNB, it is predicted to fluctuate around 700, making this trend suitable for grid trading. Ethereum is currently in a pullback consolidation phase, which is not surprising due to the influence of Bitcoin. In the short term, as long as Bitcoin's trend remains stable, Ethereum will surely rise gradually. Below 3,700 is suitable for small long-term investments, and when it returns above 4,000, cautious investors can sell appropriately and wait for a pullback.
Regarding Dogecoin, it was previously mentioned that as long as the old horse does not speak up, it will decline. Cryptocurrencies with high human interference are difficult to operate, and there will likely be a wave of decline recently, but there are still upward opportunities in January.
Returning to today's daily BTC market analysis, from the K-line perspective, the 1-hour, 4-hour, 12-hour, and daily levels are all showing a decline, with an intraday resistance level of 103,000 and a support level of 97,500 USD.
