After BTC broke through 100,000 USD on December 12.5, it showed signs of upward fatigue. Reviewing this wave of bull market, it is clear to see the structural trend of BTC. The oscillation range within the pink box accumulated energy, followed by a five-wave outbreak, establishing the tone of the bull market, which subsequently drove the surrounding altcoins to explode. As the market gradually realized expectations for the bull market, BTC began to rise in a channel-like manner while showing a MACD top divergence.

After the formation of the doji star hitting a new high on December 17, it basically established the beginning of a major correction. Both the speed and depth of the correction have been quite strong, and the current price has broken the upward channel line and is gradually approaching the MA60.

Regarding the future market situation, my personal view is as follows:

First, for a variety like BTC, it is difficult to see significant reverse driving forces at the year-end, especially when the expectations for external events have mostly been fulfilled.

Second, during BTC's correction process, most external cryptocurrencies have approached or dropped below their starting points, and a pattern of easy rise but difficult fall has emerged recently.

Therefore, it is more likely that various cryptocurrencies led by BTC will oscillate around the red line before choosing a direction.

During the Christmas period, trading volume and volatility have significantly decreased. Once the holiday ends on the 25th, new wave market conditions will form. Follow me for continuous market analysis and observations!