The probability of the Federal Reserve cutting interest rates by 25 basis points in December has reached 85.1%. At the same time, the National Center for Public Policy Research in the United States has suggested that Amazon adopt a Bitcoin reserve strategy. Some Amazon shareholders have also urged the company to consider including Bitcoin in its asset treasury.
Bitcoin is currently consolidating around $10,000. From the monthly chart, the overall trend is still bullish, although the daily chart shows short-term weakness, the impact is not significant. The 4-hour chart shows a short-term downward trend, and the intraday trend is bearish. In summary, there is a possibility of short-term volatility and downward movement, but the medium and long-term outlook remains bullish.
Ethereum has recently underperformed Bitcoin. The 4-hour and daily charts both show a downward trend, while the monthly chart still maintains a bullish pattern. Ethereum is currently in a consolidation and repair phase, and is expected to break through its historical high after the consolidation. The market's bullish sentiment towards Ethereum continues to strengthen, and the future outlook is promising.
Analysis of mainstream coins:
BNB: The current trend is linked to the market correction, but the overall trend remains bullish. The possibility of BNB breaking through $1,000 in this bull market is relatively high.
XRP: Ripple surged about 400% in November, and is currently in a correction phase. It is expected that December will still be dominated by consolidation, and the short-term upside may be limited.
SOL: SOL's current trend is linked to the overall market, and the price has approached its high. The outlook for a significant further upside in the short term is not optimistic, and the current price level carries risks.
Doge: Dogecoin has seen a short-term correction during the day, but is expected to have another wave of upside in December.
BCH: Bitcoin Cash's trend is closely following Bitcoin, and it still has significant upside potential in the future. Holding is recommended.
AR: AR is linked to the overall market, and still has a large upside space in the future. Holding is recommended.
UNI: The short-term price is approaching a high, and may enter a consolidation and repair phase. However, UNI still has upside potential in this bull market.
OP: The trend is linked to Ethereum, and the bullish space in this bull market is still there. Holding is recommended.
Market Summary
The cryptocurrency market has seen significant volatility recently, with Bitcoin remaining stable at high levels, while Altcoins have seen a slight correction. This correction is a normal adjustment, and there is no need to be overly concerned. Based on the overall data analysis, the market is likely to continue its upward trend after the correction. Overall, December is still a bullish month, and the overall market direction has not changed. Just continue to hold!
Finally, there are actually many other things that have not been written in, such as specific opportunities and specific decisions. These things are often not something that can be summarized in an article.
If you want to learn more about the wealth code, or if you have any doubts, follow the public account: Caijing Dongchen
