Many people see the long bearish candlestick on the Bitcoin weekly chart and fear a black swan event, worried that prices will plummet. This is just a retail mindset; the buying pressure from Europe and the US is pushing prices up and they won't easily sell off their positions.
After a period of adjustment at the weekly level, it will continue to rise. Coincidentally, these two weeks coincide with the Christmas and New Year holidays in the US, providing an opportunity for Bitcoin to make adjustments.
There is no indication of a sharp decline; the expectation is for prices to continue to test lower levels, which is a normal adjustment. It is possible that the trend will follow the pattern shown in the chart (prediction). The adjustment in January 2025 will still be a good opportunity to enter, and in March and April 2025, we will see a rise towards $150,000 before the first distribution of chips.
The daily chart continues to show a downward oscillation pattern. There hasn't been any exaggerated drop over the weekend, and prices are still testing the daily EMA52 line, which is also the spike position from last Friday. This position is a good entry point for rebounds, with the price at 92060.
The hourly rebounds over the weekend have been relatively weak, and there are fewer conversations in the group; the market feels dull. This is a good sign as it reflects suppressed market sentiment and consolidation.
Altcoins are performing based on their own individual trends; strong coins do their own thing while weak ones play dead. Most altcoins follow Bitcoin's hourly fluctuations, so we should focus on Bitcoin testing the daily EMA52 line.
Once Bitcoin starts to rebound, altcoins will follow suit.
Daily resistance levels are 100820-112000-126000-134000, and support levels are 92060-87300-78850.
Currently, the hourly trend is a rebound within a 2-hour pullback from the 1-day EMA52 line, which is within a 1-hour pullback and a 15-minute pullback. Short positions can be taken at 96760-98000-99235, and long positions can be taken at 93400 and 91600.
According to Bitcoin's liquidation heat map, we can see that prices are rising, with a large number of significant short positions waiting to be liquidated in the 97450-99100 area and the 99550-101150 area. Additionally, there are many large long positions waiting to be liquidated in the 94150-91350 area.
