The crypto market yesterday was still focused on the performance of BTC, with Bitcoin experiencing a period of consolidation and maintaining high levels. Most mainstream trends were weaker than Bitcoin, with Bitcoin reaching a level close to its previous high, feeling like it could break a new high at any moment. Sure enough, it broke through in the morning, but it is expected that the short-term growth after the breakthrough may be limited, and there will still be a pullback to consolidate. This article is just a personal review and does not constitute any investment advice.
BTC is expected to consolidate around $105,000, with the daily trend continuing to rise and break through highs, but the deviation from the previous high will not be too much, or it is said that there should still be a major correction before January 27. $BNB is expected to fluctuate between $700 and $740, with an overall weak performance yesterday. It needs to wait for the consolidation period after BTC's breakthrough to explode, after all, the recent airdrops have not boosted it, and it will drop a bit again after the airdrops end. For Ethereum $ETH, institutional holdings continue to increase, and it is still worth looking forward to, suitable for buying on dips, especially once BTC breaks through new highs, there will be more room for growth.
Some important news highlights:
1. President Trump said in an interview with CMBC that the US will use cryptocurrencies to do some great things, with the goal of becoming a leader. Trump also mentioned that the US will strive to maintain a leading position in the field of artificial intelligence. When asked whether a Bitcoin strategic reserve similar to the oil reserve will be established, Trump said yes, I think so.
2. French Hill, a US Congressman from Arkansas (a crypto supporter), defeated three opponents and won the position of Chairman of the Financial Services Committee.
3. The former Prime Minister of Thailand suggested studying the use of Bitcoin and government bond-backed stablecoins in tourist areas.
Coming back to today's daily $BTC market analysis, from the K-line, the 1-hour level is bullish, the 4-hour level is bullish, the 12-hour level is bullish, and the daily level is bullish. The intraday resistance is $107,500 and the support is $103,000. Overall, if Bitcoin breaks through the highs without strong volume, the upside after the breakthrough may not be large, and there may be a major correction. At this time, do not rashly open positions to avoid being harvested.
Bitcoin breaks new highs again! Ambush 4 Altcoins that could surge 100x this bull run!
ADA
Cardano (ADA) is a promising Altcoin that has risen 258%, consolidating its position as a leader in the Altcoin space. Its trading price is between $0.96 and $1.25, slightly below the $1.35 level. Analysts expect a rapid rebound once this level is broken, making it an excellent portfolio growth alternative. Technical indicators support this optimism - ADA's 10-day moving average has crossed above the 100-day average, indicating strong upward momentum. The Relative Strength Index (RSI) of 47 means the asset can rise without becoming overbought. Cardano's ability to overcome challenges and instill confidence in the market may shift the Altcoin landscape during the altseason. For investors seeking life-changing returns from modest assets before the bull run begins, ADA is an opportunity not to be missed.
KAS
Kaspa (KAS) is trading at $0.1553, making it a strong contender for index-beating growth in the bull market. The token reached a peak of $0.19 before retracing to $0.16, indicating increased demand and volatility, a typical sign of a cryptocurrency primed for a major breakout. Kaspa's technical indicators are encouraging: an expanding wedge pattern breakout and an RSI of 64.84 signal a bullish trend. Kaspa's ambitious journey to $1 (a market cap of around $250 billion) is achievable, given its current market size of $39.7 billion. Developers and investors are excited about its Proof-of-Work consensus process and fast transactions. If Kaspa can break its all-time high of $0.2075 and surge to $1, it presents a rare opportunity for early adopters to multiply small positions into million-dollar portfolios, making it a crypto gem that could turn into a life-changing investment before the bull run ends.
TRX
TRON (TRX) has become a crypto heavyweight, attracting savvy investors with its astounding gains. On December 3, 2024, TRON's price increased by 107.57% to $0.4407. Although TRON's trading price of $0.2838 is volatile, its blockchain ecosystem remains resilient. Beyond just price action, TRON's strong network activity indicates it is a game-changing investment. TRON possesses all the characteristics of a portfolio multiplier, being a cost-effective Altcoin with the potential to generate substantial profits by the end of the bull run.
XLM
Stellar (XLM) is poised for significant growth in the next bull run, as it disrupts the cryptocurrency industry through its diverse partnerships and robust technical structure. Stellar's groundbreaking collaborations with Fělix and Bitso are revolutionizing remittances for Latin American immigrants in the US, which is noteworthy. These partnerships use blockchain technology and the USDC stablecoin to address fundamental financial needs, enabling faster, cheaper, and more secure cross-border fund transfers to Latin America. XLM's recent surge is due to the utility of this initiative and increased investor interest. Positive technical patterns, such as a symmetrical triangle and a descending wedge, indicate a price surge to $0.90. After the recent pullback, increased buying volume and a strengthened $0.41 support level have improved XLM's upside prospects. Stellar's novel use cases and growing adoption provide an extremely attractive opportunity for investors to turn small positions into $1 million portfolios before the bull run ends.
