The current market trend is quite confusing, with daily fluctuations of rising and then pulling back. But don't worry, the market has not come to an end; such large fluctuations in a bull market are normal. After BTC rises from 60k to 100k, a consolidation phase will be healthier.
Now we have reached the annual Christmas effect. At this time, referring to past market trends, it has always been quite tortuous, but after navigating through it, a new round of increases will start. At this point, anyone who gets left behind will just be unlucky.
Let's take a deep look at the market: Bitcoin, although it rebounded yesterday along with altcoins, I believe it is just a technical rebound and has not reversed the trend! The rebound has not broken through the key moving averages, and the MACD has formed a bearish divergence on the daily chart. From these two points, it is very likely that there will be more downward space ahead! The most suitable bottom-fishing opportunity for BTC remains around 90,000.
If a reversal trend occurs, it must hold above 99,000 for me to believe that the bulls have regained control.
The typical characteristic of this stage is no longer a one-sided trend, but a phase of fluctuating up and down within a large range, forming a long-term consolidation zone. From the previous consolidation period, it could be as short as around two months or as long as six months.
Similarly, ETH is weaker compared to Bitcoin, with a gap below at 2800 that has not been filled, and it is highly likely that it will drop to fill it at some point. Just a reminder, at any time or stage, whenever you see ETH at 2800, it’s the time to bottom-fish; the first drop below 2800 will definitely rebound!
