Disclaimer: The material is not a financial recommendation or a call to action. The presented analysis is the personal opinion of its authors. Incrypted is not responsible for the investment decisions of readers.
On the night of December 16, 2024, Bitcoin renewed its all-time high above $106,000. Ethereum, for its part, broke through the $4,000 level, but was unable to consolidate there. Cryptology Key analysts shared their vision of the situation and predicted the further price movement of these assets.
Bitcoin
There are no comments here. However, within a few weeks, the asset may face a significant drawdown, which, in turn, will cause a correction in the altcoin sector. The depth of the latter may be up to 40%. Therefore, we expect one of two scenarios - growth in all positions by the end of 2024 or a sharp fall in Bitcoin to $90,000.
Ethereum
There is no clear picture here. However, there are certain “equals” — the price will either break through the resistance level and close the monthly/quarterly/annual bar at $4,000, which looks logical, or vice versa, it will eliminate the imbalance formed on the monthly chart.
The current week is ambiguous. An aggressive correction to the $3,675 zone would be preferable.
In this case, there is a daily accumulation of lows. It would be nice if the price could break them and get a reaction in the daily block. Then you can try to open a long position with an eye on $4093.
Here, it is necessary to take into account two scenarios when forming a trading strategy - entering the formation of a structure with the subsequent search for a pullback or falling to the zone with subsequent holding without confirmation.
USDT
The so-called channel (a sharp drop in price) did not produce such a large increase in dominance, the indicator stopped at 4.29%.
We previously indicated that we expect two stages. Only the local one worked, which is more of a plus than a minus. But only on condition that we manage to sell the weekly candle and the downtrend continues next week.
However, it should be noted that we do not see any areas of interest that can be achieved by the end of December 2024. Therefore, the assessment is neutral.
