Bitcoin rebounded from around $92,000 yesterday, with the highest rebound being $7,000, and the rebound strength is still quite good. This should be the low point for the short term, and it is expected to test the $100,000 pressure again, where it may still struggle to stabilize, generally maintaining a range of oscillation between $94,000 and $100,000.

In summary, Bitcoin continues to be strong today, and mainstream coins are all recovering, with major funds flowing into Bitcoin. It is expected that only after Bitcoin breaks through $110,000 will market funds possibly flow into other mainstream coins and altcoins.

It is estimated that the market will consolidate and oscillate at this position over the weekend, and everyone can observe for a while. This is not a suitable time for aggressive operations, but if you find the price appropriate, buying some spot to hold is also a viable option, as it may still be a good choice in the long run.

Currently, Ethereum has not shown any obvious signals for a significant rise, but once there are signs of an increase, other mainstream coins and altcoins will also rise. Although the recent pullbacks of mainstream coins and altcoins have not been small, I have previously advised everyone not to sell easily.

Market makers usually wash out before lifting prices to make retail investors panic sell; this is a common tactic, such as the pullbacks of altcoins around 20 points the day before yesterday and yesterday.

Short-term and medium-term market outlook

In the short term, market trends will depend on a moment's thought. If the spot price rises slightly, it may lead to a large number of short positions being liquidated, thus pushing the market up. The key point for Bitcoin is at $90,000. Further analysis shows that the pivot point is above $98,200.

If the price can rebound to this range, the market is expected to return to the lower half of the channel for consolidation. However, if it fails to reach this level, there will be certain resistance above, increasing the likelihood of a second-child phenomenon.

The current wave of market violations is indeed quite rare and has been significantly influenced by news. The contract market is very ample and is prone to large contract liquidations triggered by news. The short-term market trend still depends on investor sentiment and external factors, while in the medium to long term, it is believed that the major market has not yet ended, and it is recommended to short near the main support levels, with the target being a return to the previous fixed position.

The altcoin season may erupt! When to enter?

Recently, BTC may oscillate in the range of $95,000 to $100,000. As Christmas approaches, BTC may also experience a significant pullback to complete the weekly chart's retracement. In such a market environment, a lively period for altcoins may be on the horizon. Due to the relatively high price of BTC, the market is ample with funds, and profit-taking may flow into ETH and other altcoins, pushing their prices up. Especially for ETH, it is expected that its exchange rate will also show a significant rebound trend.

Overall, currently among altcoins, Trump-themed coins are relatively strong, ENA has basically returned to break-even, and SUI remains strong. The newly launched VC coin MOVE and Usual are also performing brightly. Overall, the trend of the secondary market is that the strong become stronger.

However, this time everyone hasn't mentioned 'altcoin season' much; in fact, once the altcoin season truly arrives, that will be the most frightening. Currently, the market is still a localized trend, and the overall heat has not fully exploded.

So when should one enter the market?

Short-term investors

If you are a short-term trader, you can pay attention to the support level of Bitcoin around $90,000. If the price pulls back to this range and the trading volume increases, it may be a good opportunity for a short-term bottom fishing.

Long-term investors

For long-term investors, every pullback of Bitcoin is an opportunity to accumulate positions in batches. It is recommended to pay attention to the strong support area around $85,000, as this may become the bottom area of the market.

In closing:

We are currently in the startup phase of a bull market, and the upward trend is unchangeable. Holding on with peace of mind will prevent being cut by market makers. A significant rise is expected by the end of December, and the period from January to March 2025 may also be a favorable time for an increase.