Old Chives on 12.9 Say Coin

Market Review and Analysis

The overall trend of the market has begun to synchronize a bit. Last week, the golden needle closed with a rise, and Bitcoin first repaired the support level near 90000, which was the upper spike of the week before last, and then rebounded directly to create a new historical high. Ethereum followed suit, reaching the first support level of 3500 points and rebounding close to this year's new high. Currently, it has not broken this year's new high. The overall trend of altcoins is still not very strong; only a few coins are performing relatively well, while some still show weak performance. Whether Ethereum will continue to push higher and drive the overall market (I personally expect it is possible) as this round of altcoin rotation has not ended, so the layout for this round of market remains ongoing.

Today's and This Week's Highlights

Bitcoin has already repaired the spike from the week before last, but to prevent further corrective movements this week, the key support to watch is the range of 92000-95000. Within the day, pay attention to the support points in the range of 97000-98000. The subsequent trend of Bitcoin is expected to be mainly fluctuating. Contract traders should manage their risks well to prevent unforeseen disasters caused by up and down spikes, and it's better for oneself to look less at Bitcoin's trend.

The trend of Ethereum is currently relatively stable. Last week's spike went down to the lowest point of 3500, aligning with the support level of 3480-3520 given last Monday. This week, the focus is on the range of 3760-3820, with expected preventive support around the position of 3800. The daily support level and the intra-day defensive position are both near this point. Last week's live broadcast mentioned that this year's new high would be broken, but the historical high may not necessarily be broken immediately at this stage. The spike two days ago did not reach this year's new high, just missing it by a narrow margin. Therefore, this round of market movement is not considered complete. However, a small-level pullback at this juncture is normal. We are waiting for Ethereum to continue to rise and drive the rotation of altcoins.

For altcoins, continue to pay attention to AI, smart, and game series coins.