Many people see the long bearish candlestick on the Bitcoin weekly chart and fear that a black swan event will occur, worrying that the price will crash. This is entirely the mindset of retail investors; the buying pressure from Europe and the US has pushed the price up, and it won't simply sell off.
After a period of adjustment at the weekly level, the price will continue to rise. Coincidentally, the next two weeks coincide with the Christmas and New Year holidays in the US, providing an opportunity for Bitcoin to adjust.
There is no expectation of a crash, and the price may continue to dip, which is a normal adjustment. It is possible that the price will move according to the pattern shown in the chart (prediction). The adjustment in January 2025 is still a good opportunity to enter, and in March or April 2025, it may rise to around $150,000, followed by the first distribution of chips. By looking at Bitcoin's trend over a longer time frame, you may not feel so anxious.
The daily chart still shows a downward oscillation trend, and there hasn't been any exaggerated decline over the weekend. The price continues to test the daily EMA52 line, which is the position where it pinned last Friday. This is a good position for a rebound and bottom-fishing, with the price at 92060.
The hourly rebound trend over the weekend has been relatively weak, and there are fewer people chatting in the group; the market seems dull, which is a good thing. On one hand, market sentiment is suppressed, and on the other hand, it is a phase of oscillation and adjustment.
Altcoins are showing trends based on their own performances; strong coins ignore others and do their own thing, while weak coins play dead. Most altcoins follow Bitcoin's trend, fluctuating at the hourly level, so just keep an eye on Bitcoin's pullback to the daily EMA52 line.
Once Bitcoin starts to rebound, altcoins will follow suit.
Daily resistance levels are 100820-112000-126000-134000, and support levels are 92060-87300-78850.
The hourly trend is currently experiencing a pullback within the 2-hour rebound of the 1-day EMA52 line, which is also within the 1-hour pullback and the 15-minute pullback. In the short term, it is possible to short at 96760-98000-99235 and go long at 93400 and 91600.
According to Bitcoin's liquidation heatmap, we can see the price is rising, with a large number of significant short positions waiting to be liquidated at the 97450-99100 and 99550-101150 areas. In the 94150-91350 area, there are also a large number of significant long positions waiting for liquidation.
