Plan after #BTC surpasses $100k
First, we will start from technical analysis (TA) and then move to fundamental analysis (FA) to get a clear picture and make the best decision, maximizing profits.
Firstly, the level of 100k$ is both a round number and a strong psychological level that was broken this morning; however, the volume did not support it, with the price rising from about 88k to 103k with decreasing volume. This means that this price increase has not been accumulated. A correction is inevitable.
Next, we look at the EMA200 on the daily chart, currently, the price is at the largest distance from the EMA200 in history, which means there will definitely be a correction in this area of 103k$ .
Then, we look at Total 3 to see how altcoins are doing. There are two notable points: firstly, the volume into altcoins has increased significantly in recent weeks, and secondly, altcoins are facing a strong resistance area (V-shaped resistance). This means that altcoins will correct in this area, but the correction will not be too much (estimated 20-30%), and then they will break through this resistance due to strong incoming volume.
Regarding fundamental analysis, there are three noteworthy points in this period:
- The U.S. President will take office on January 20, 2025
- Fed interest rate cuts in December and January
- CZ, the boss, hinted at Altcoin season through a tweet on X
Stringing together all the data, the plan is as follows: to optimize and earn more, in this period, cash out to U, wait until the end of December to re-enter, or just hold through the correction. The expected time for updates on the correction will be in the channel.
First, we will start from technical analysis (TA) and then move to fundamental analysis (FA) to get a clear picture and make the best decision, maximizing profits.
Firstly, the level of 100k$ is both a round number and a strong psychological level that was broken this morning; however, the volume did not support it, with the price rising from about 88k to 103k with decreasing volume. This means that this price increase has not been accumulated. A correction is inevitable.
Next, we look at the EMA200 on the daily chart, currently, the price is at the largest distance from the EMA200 in history, which means there will definitely be a correction in this area of 103k$ .
Then, we look at Total 3 to see how altcoins are doing. There are two notable points: firstly, the volume into altcoins has increased significantly in recent weeks, and secondly, altcoins are facing a strong resistance area (V-shaped resistance). This means that altcoins will correct in this area, but the correction will not be too much (estimated 20-30%), and then they will break through this resistance due to strong incoming volume.
Regarding fundamental analysis, there are three noteworthy points in this period:
- The U.S. President will take office on January 20, 2025
- Fed interest rate cuts in December and January
- CZ, the boss, hinted at Altcoin season through a tweet on X
Stringing together all the data, the plan is as follows: to optimize and earn more, in this period, cash out to U, wait until the end of December to re-enter, or just hold through the correction. The expected time for updates on the correction will be in the channel.