December 27th Old Leeks Talk About Cryptocurrency

Market Review and Analysis

Yesterday, after an overall market pullback, there was no piercing price action, but the overall pullback strength of the market wasn't very strong. The feeling is that the current trend is in a slow decline. On the daily chart, the closing is a solid closing trend. Today's intraday market can observe the overall rebound strength. If the rebound strength is very poor, the market will still go through a period of consolidation. Bitcoin and Ethereum won't rebound much and will test lower levels again. The market's enthusiasm will wear off, leading to another period of stagnation, and altcoin prices will continue to grind at the bottom without a significant upward movement in a short time.

Today's Highlights

BTC's market is starting to fluctuate on the four-hour chart. According to the current four-hour trend, the support level to pay attention to today is around the 95,000 point line. If the market breaks below this minor defense level on the intraday chart, it will again probe downwards into the 92,000-93,000 range. The resistance levels above remain unchanged, focusing on the 98,000-102,000 range. Only if the market breaks through and stabilizes above the 102,000 level will it rally again.

ETH's market trend also did not show any piercing price action yesterday, with the lowest point around 3,300. Today, this low can serve as a support level for intraday trading. Focus on the rebound strength today, particularly the 3,500-3,600 range. If the market can break above 3,600 on the daily chart, it will again challenge the key level of 3,800. Only if the market breaks through and stabilizes at this key point will it start again. Altcoins will generally follow suit, with the degree of following varying, some may be a few points while others may be ten to twenty points.