Christmas is coming! Will Bitcoin continue to decline?
Today is December 23, 2024, Monday. Bitcoin and Ethereum continue to decline, but altcoins show some resilience against the drop. It is expected that after the overall market stabilizes, altcoins should experience a decent rebound. From the liquidation chart of the exchanges, it can be seen that the long positions in the futures market have already been largely liquidated. Even if Bitcoin drops to 85,000, it can only trigger a liquidation of 1.17 billion USD; conversely, if Bitcoin rises to 105,000, it can trigger a liquidation of 2.4 billion for short positions. After a period of extreme negativity, a sharp drop will inevitably lead to a rebound. In the short term, if Bitcoin retests the previous low of 92,000 USD, as long as it does not break below it, I personally believe there is a high probability of a rebound.
From historical data, the months from January to April in the year after Bitcoin's halving tend to see significant price increases. This was the case in 2017 and 2021, and I believe this bull market will not be an exception. Therefore, it's hard to buy a bull's return; cherish the recent corrections.
In this bull market, Ethereum is much weaker than Bitcoin. From the daily chart, Ethereum has shown three consecutive bearish candles and is trending towards retesting the previous low. In the short term, if it retests, pay attention to the previous low support level of 3,100. Even if it breaks that, it will likely pull back to around 3,000, and Ethereum's rise won't end so easily. The decline is for a better rise; a significant drop is used to shake out weak hands, making the majority lose confidence, allowing the main force to better push prices up. Therefore, those looking to buy the dip on Ethereum can accumulate in batches around or below 3,100 USD. A sharp drop will inevitably lead to a rebound, and the average cost for most people is in this range, where panic will prevent many from holding on. Thus, after the adjustment, Ethereum is expected to challenge the previous high resistance level of 3,600. Cherish the opportunity to buy low!
"If you are blindly guessing trends in the market alone, it will always backfire!
If you lack technical and news support and only look at the decline charts and hype charts to make trades! Then it will not last long!
You can follow my profile and pinned post for early insights, so we can discuss and analyze the current market together, and go further and last longer in this market!"
#币安Alpha公布第5批项目 #币安LaunchpoolBIO #圣诞行情分析 $ZEN $PEPE $XRP
Today is December 23, 2024, Monday. Bitcoin and Ethereum continue to decline, but altcoins show some resilience against the drop. It is expected that after the overall market stabilizes, altcoins should experience a decent rebound. From the liquidation chart of the exchanges, it can be seen that the long positions in the futures market have already been largely liquidated. Even if Bitcoin drops to 85,000, it can only trigger a liquidation of 1.17 billion USD; conversely, if Bitcoin rises to 105,000, it can trigger a liquidation of 2.4 billion for short positions. After a period of extreme negativity, a sharp drop will inevitably lead to a rebound. In the short term, if Bitcoin retests the previous low of 92,000 USD, as long as it does not break below it, I personally believe there is a high probability of a rebound.
From historical data, the months from January to April in the year after Bitcoin's halving tend to see significant price increases. This was the case in 2017 and 2021, and I believe this bull market will not be an exception. Therefore, it's hard to buy a bull's return; cherish the recent corrections.
In this bull market, Ethereum is much weaker than Bitcoin. From the daily chart, Ethereum has shown three consecutive bearish candles and is trending towards retesting the previous low. In the short term, if it retests, pay attention to the previous low support level of 3,100. Even if it breaks that, it will likely pull back to around 3,000, and Ethereum's rise won't end so easily. The decline is for a better rise; a significant drop is used to shake out weak hands, making the majority lose confidence, allowing the main force to better push prices up. Therefore, those looking to buy the dip on Ethereum can accumulate in batches around or below 3,100 USD. A sharp drop will inevitably lead to a rebound, and the average cost for most people is in this range, where panic will prevent many from holding on. Thus, after the adjustment, Ethereum is expected to challenge the previous high resistance level of 3,600. Cherish the opportunity to buy low!
"If you are blindly guessing trends in the market alone, it will always backfire!
If you lack technical and news support and only look at the decline charts and hype charts to make trades! Then it will not last long!
You can follow my profile and pinned post for early insights, so we can discuss and analyze the current market together, and go further and last longer in this market!"
#币安Alpha公布第5批项目 #币安LaunchpoolBIO #圣诞行情分析 $ZEN $PEPE $XRP