Every difficulty will pass.
It's Monday afternoon! Bitcoin has satisfied four days of three downs, the short-term decline is in place, stay steady and don't rush. Some coins in the spot market have already dropped to their levels. This week will welcome Christmas Eve and Christmas, and low liquidity is unavoidable. Over the weekend, the market has been oscillating around 96000-98000, and this morning it directly broke down and touched the 94000 support again. Looking at the 1-hour chart, currently, the resistance level is at 95850. If it can break through this resistance level, it may drive the price up.
If Bitcoin fails to break through 95800, it may continue to decline, with direct support in the downward direction around 93900, and the next support level around 92300. If the price further declines, it may break the support level of 90000 USD in the short term.
This wave was to clear long leverage; the dog fund harmed themselves by 800!
When the market is sluggish, the decline of altcoins may cause the 'dog fund' even more pain. This reminds me of the 'blood exchange' tactic when playing (League of Legends) — you hit me once, I hit back. Only through this method can the opponent understand the taste of pain, so they will not bully you easily again. Although changing blood is painful, more importantly, it makes the opponent experience deeper pain, so they will restrain themselves and not easily open positions.
In the confrontation with the 'dog fund', as long as they dare to sell, I will decisively buy the dip, betting that new opportunities will arise in the future. Investing is actually a 'language arts question', focusing on trends rather than just numbers. Every market fluctuation is a test of our mentality; what we need is that courage and decisiveness. Only by daring to 'change blood' can we seize our own opportunities in the ever-changing market! So, when facing the 'attack' of the dog fund, don't be afraid; act bravely and let them feel your counterattack.
The greed index for Bitcoin has plummeted; when will the new market start?
Recently, the greed index has dropped from 95 last month to 70, marking a healthy correction in the crypto world. With Christmas and New Year's approaching, the big shots on Wall Street have already begun their 'winter hibernation'. Although the New York Stock Exchange is still operating, many fund managers have long been enjoying vacations in sunny Hawaii or Florida.
At the same time, retail investors also need to liquidate due to holiday spending, and many have to sell some cryptocurrencies to buy gifts or celebrate. Therefore, in the next two weeks, the performance of the crypto market may appear somewhat weak, which is consistent with market rules.
I think the market should start to move in early January.
At that time, Wall Street will return to the battlefield, retail investors will come back to the crypto market after the holidays, and then on January 20th, with Trump's inauguration and Bitcoin's strategic reserves, I think there is a high probability that it will surge.