On December 18, Bitcoin BTC continuously hit new highs, but the situation for altcoins is not good. Most of the funds have flowed into Bitcoin, and there isn’t enough money left to pull up altcoins. Bitcoin keeps hitting new highs, and large funds are worried about its subsequent pullback, which could crash the entire market, so they dare not easily pull up altcoins. In the last round, many altcoins doubled from the bottom, and now they need to pull back to wash out the profits from before and change hands.
When will altcoins start to rise? From past experience, when Bitcoin rises and breaks new highs, altcoins will not rise along with it. They need to wait for Bitcoin to pull back at a high and then consolidate for more than seven days. Moreover, altcoins have started to pull back and change hands since December 7, and it has been 10 days now, so we still need to wait about two more weeks; it is not yet their time to rise.
Key point: Tomorrow at 3 AM, the Federal Reserve will announce the interest rate decision and economic outlook summary. If nothing unexpected happens, if the interest rate can be successfully lowered in December and signals possible rate cuts for next year, then Bitcoin's price can stabilize.
The market is starting a major bull run, and the pullback of the four major mainstream coins that can multiply 50-100 times is the opportunity to buy the dip!
LTC
Currently alive, there are only a few mining coins left that can still be mined profitably. After experiencing multiple bull market cycles. There is no actual use, but precisely because of this, it has financial attributes. I dare to assert that in the future, ETFs will definitely have a place.
Currently, it is still breaking through the washout and oscillation structure range. I suggested multiple times on the daily chart earlier, if you currently have nothing else to choose from, just pick LTC. This wave of the bull market should still have 2-3 times the space. Support is around 110-100-90, and there is short-term pressure around 144 above.
Still the same saying, old coins do not die. After experiencing so many rounds of bull and bear markets, they still rank on the exchanges. They have a large fan base and value supporters. Therefore, in this round of bull market, a large part of traditional capital entering will choose to operate with old coins.
ACT
From a macro perspective, ACT has experienced three rounds of decline since its launch, with the overall structure currently forming a triple bottom accumulation, and the second time it touched the large uptrend line, the rebound was rapid, indicating the strong buying power below.
Moreover, from the perspective of the market makers, if they continue to 'kill the chicken to get the eggs' and let it drop sharply, although they can profit in the short term, it will definitely be detrimental to later harvesting, after all, it is still early for a bear market.
Also, the Ai+MeMe narrative has indeed become a hot topic! The point that everyone is most concerned about, I suggest entering in batches at 0.35, remember to enter in batches, just hold for the medium to long term!
DOT
I've seen you discussing DOT recently, it almost broke the previous new high of around 12u last month, and is currently adjusting and consolidating. Some people are unable to hold on, and the current price is in the 8-9u accumulation and consolidation stage. DOT's lowest was 3.3, and it has nearly quadrupled in about a month and a half. It's normal for there to be a pullback and consolidation. No coin will keep rising indefinitely. A washout is the healthiest. I expect a supplementary rise to start at the end of December, with a new round of increases in January, as the amount of funds continues to increase and the heat keeps rising.
It is expected to rise to around 20-25u in January, hold your spot, forget about the price, wait for the cycle to come, there are still a few months, be patient and wait.
