December 20th Old Leeks Talk Coins

Market Review and Analysis

Bitcoin and Ethereum continue to pull back today. Yesterday, Bitcoin rebounded to around 103,000, and resistance began to push it back down directly without continuing to surge. Ethereum has not yet touched the 3,800 position, it only reached a little over 3,700 before coming down. Today's retracement for Bitcoin and Ethereum is relatively similar to the previous upward trend, moving in independent markets. Bitcoin and Ethereum are down, but altcoins haven't really dropped much today; relative to the declines of Bitcoin and Ethereum, altcoins have basically remained stable, with some even rebounding slightly. It felt a bit early yesterday, but personally, I don't think the problem is too significant. If you don't buy at the current price and wait for it to go up later, you’ll be in a tough spot trying to chase the rise, and you won't enjoy much of the profit space. However, being stuck is something that will always happen to you. So, it's simple: just buy during a big drop, and that's it. No need to think too much. Now, relative to Ethereum and altcoins, allocate your positions well; buying three to five altcoins is fine, just fill your positions directly. But here, I emphasize, don't go for leveraged contracts.

Today's Highlights

Bitcoin is now around the lowest line of 96,000. Yesterday, in the video, I mentioned that the range of 94,000-96,000 is a relatively strong support level at this stage. We'll see if this range can stabilize. 96,000 has already been touched. On an intraday level, first, look at the support in this range, then check the target resistance level for the rebound. According to the current stage, the resistance level above can focus on the range of 100,000-102,000.

ETH's rebound yesterday was relatively small, only returning to a little over 3,700 before pulling back again, not reaching the 3,800 position. It retraced directly to around 3,300. It felt a bit early yesterday, but during this round of decline, altcoins did not follow the drop. One can say that the decline in altcoins is not significant; it feels somewhat unable to fall further. So relative to Ethereum, the current support level can refer to the range of 3,260-3,320. On an intraday level, it has already touched once. On an intraday level, look for resistance points at the range of 3,600-3,800. Whether there will be an overall rebound or a strengthening to boost market activity still needs to be seen based on whether Ethereum can stabilize again at the 3,800 point to open up the upper space.