Bitcoin is still holding above 94,000 on Monday afternoon. Currently, it is declining in a healthy manner through small trading volumes and small steps. This is a healthy way of secondary testing. Currently, Bitcoin has not escaped the situation of lower lows and lower highs, so it cannot be confirmed that the secondary test has ended. From the perspective of moving averages, this secondary test has been suppressed by the 72-hour moving average, so only when the rebound breaks through the 72-hour resistance can it be confirmed that the secondary test is over. With USDT issuance today, positive signals are starting to appear in terms of volume-price relationships. The trading volume for Bitcoin during the rebound has increased and is greater than the trading volume during the decline. This means that the secondary test is nearing its end. Friends, keep your mindset stable; we can win.
Tonight, the U.S. stock market will open normally, and MSTR will officially be included in the Nasdaq 100. Tomorrow night, that is, on the 24th, the U.S. stock market will close early for the Eastern time zone. The market sentiment before the closing is very important, directly affecting the market sentiment during the Christmas period. Of course, there are expectations for January next year, so there is not much to worry about. The trend is still in place. Even if Bitcoin temporarily declines during the holidays, it will recover. Please remember that the opportunities for bulls always arise from declines; a significant drop breeds a big opportunity. The current market's pace of decline is starting to slow down, which is favorable for bulls. Currently, the largest financial supporter in the crypto space, Wall Street, has begun its winter hibernation. During Christmas and New Year, although the NYSE is still open, most fund managers are on vacation in warm Hawaii or Florida. Retail investors also need to sell some coins for holiday spending to buy gifts, so with major players on vacation and retail spending, the crypto market will show weakness in the next week or two, which is consistent with the pattern.
Having experienced the 312 and 94 drops, these veteran investors are not too anxious right now. They know that if the market doesn't rally now, it will definitely rally in the first quarter of next year, when Wall Street returns to the battlefield, retail investors come back to the crypto space after the holidays, and on January 20th, there’s also Trump’s inauguration and the big opportunity of Bitcoin's strategic reserves. I think there’s a high probability that there will be a surge. Moreover, looking at the liquidation data, the amount of liquidations for long positions is gradually decreasing; once the long positions can’t liquidate much, it will be time to push up the short positions.
So before January 20th, I remain hopeful. Aside from mainstream coins, smaller coins like Doge, Pepe, Uni, or AAVE are quite good and have potential. The current price may not be the absolute bottom, but compared to being temporarily trapped, I fear missing out more, so I will buy some whenever there are low points, waiting for Trump’s prosperous era. Many newcomers worry about too much retracement and how long it will take for the market to recover. In fact, we can look back at the wave that started in early March this year and the one that began in late November; once the market starts to rally, it happens quickly. Back then, it was basically ten times in a week; recently, even the large-cap XRP has surged four times from the bottom. For smaller market caps, ten times is not a problem, so there's no need to worry about not making a profit. The market makers can't offload during a continuous decline either; there’s no trading volume or depth, so rest assured. The winter solstice has passed; is spring far away?
