December 24th, Old Leeks Discussing Coins

Market Analysis Review

Bitcoin and Altcoin had a slight rebound today, the market sentiment is still decent. The rebound of altcoins is relatively normal, with most altcoins bouncing back by several points to a dozen points today. The market has begun to show a recovery sentiment. As long as Bitcoin's subsequent market gradually stabilizes and continues to break through, altcoins will usher in a new round of movements. The recent grasp of this is still good. Yesterday was the time to increase positions; if you don’t add positions at the low points and wait for the market to rise before buying, isn’t that just being a pure novice? It has been clearly stated before that the market will move back and forth for 2-4 months. It has only been a little over a month since then. The pullback is for a better rise, but a premise is that during this time, don’t think about making grand plans; don’t chase after the rise. If you need to run, then run; if it comes down, then buy. Only in this way will your capital account continue to grow, rather than ending up with losses when the market is over, which would be nonsense. For instance, during this round of market pullback, we still made profits. With a wave of AGLD taking off, directly swapping positions and starting to profit again today, this kind of operation will only make the capital system grow larger and larger. It’s not about fearing to sell at a loss; it’s about fearing that your losses keep increasing and you get stuck deeper and deeper.

Today's Highlights

Bitcoin's rebound started just around the lowest point of 92,000 today, but yesterday's closing was an entity bearish line, which isn’t very good according to the trend. Recently, particularly pay attention to whether the support at 90,000-92,000 will break. If it doesn’t break and rebounds, the resistance above should be focused on the range of 98,000-102,000. At this stage, there isn't too much commentary on Bitcoin, more so just looking for the best oscillating market.

ETH closed with a small bearish cross on the daily level yesterday; it hasn’t broken below 3,200 and is currently in a stabilizing state. However, 3,500-3,600 is still the short-term resistance position that needs attention. The key focus is the subsequent position of 3,800 points. Only if 3,800 breaks and stabilizes will it be crucial to see if it can touch a historical high again. According to future trends, as long as Bitcoin stabilizes at the 3,800-point level again, it’s highly likely that Bitcoin will return above 4,000 to touch the historical high in the range of 4,500-4,800. Whether it can break the historical high and move stronger is uncertain; this is not defined, but according to the trend, the range of 4,500-4,800 will be reached.