Master Translator Discusses Hot Topics:
The 100,000 milestone has been broken, and the big bull has arrived as promised! Watching the Nasdaq and S&P 500 continuously set new all-time highs, the market atmosphere is truly exciting. BTC has also broken through 100,000 this morning, setting a new record. We are witnessing history once again!
Most of the friends who have been reading the Master Translator's articles for a long time already understand, this wave of rise is completely in line with the Master Translator's expectations, and the next target range is obvious. 110,000-123,000 should be the most likely trend (mid-term 110,850-123,600), and ETH is not to be outdone, with a target of 4,880 to be reached this month or next!
Reviewing, the Master Translator clearly stated in the article on December 2nd that after the release of the Fed's Beige Book, the market will embark on a unilateral upward trend. He also stated very clearly that as long as BTC pulls back to around 93,800, it would be a mid-term bottom-fishing position. BTC's lowest point on the evening of December 3rd was just above 93,600, and no lower price has appeared since then.
On the evening of December 3rd, BTC bottomed out around 93,600 and then began to slowly rebound, completely confirming the Master Translator's view. To say that the mid-term bottom-fishing long position layout this morning has already gained more than 10,000 points, the heart feels more comfortable than anything else, this steady income is a kind of solid confidence.
Additionally, here I will answer some questions from fan friends: Regarding Altcoins, we need to treat them calmly. There are many friends in the market now who are frantically chasing Altcoins, but to be honest, the Master Translator really doesn't recommend touching them. In the early stage of the bull market, the trend is often that Altcoins have a round of rise, and then the funds will quickly flow back to BTC.
At this time, BTC will continue to dance alone, rather than the "BTC rises, ETH rises, Altcoins come again" rhythm like when small bulls and bears alternate. So the risk of Altcoins is still relatively high in the current market environment, don't be fooled by their temporary popularity, they still have a gap compared to BTC and ETH.
Ultimately, doing well with BTC and ETH, these two "true bulls", is the most stable way. The Altcoin operation that is too greedy, you have a great chance of becoming cannon fodder when the market pulls back.
Then I want to talk about those short friends, especially those who are always watching BTC fall, I really feel anxious for them. The overall trend is still bullish, but the shorts are always hoping the market will fall to 70,000 or 80,000, and end up just watching themselves miss the pump.
The recent needle drop, those shorts may feel they've found an opportunity, but have you seen BTC today? It has already broken through 100,000, and the shorts are still bearish.
Sometimes I don't understand why there are so many people focused on the downside during the bull market stage, adjustments are only short-term, why not go with the trend and get on this wave of rise? Either they don't understand, or they have ulterior motives!
The Master Translator himself has experienced so many market fluctuations and understands a truth: when large-cap coins start to rise, small-cap coins may pull back for a while, but the period from last month to March next year is the golden period with the greatest wealth effect for this bull market.
In the upcoming major trend, the entire market will transition from "BTC dancing alone" to "a frenzy of coins". Retail friends, we must seize every opportunity to buy the dips and ensure that we have firmly boarded the train, don't get off halfway.
Also, don't show off those seemingly high-end technical indicators, don't let emotions control you, focus on the trend, otherwise in the end you won't even know how you played yourself!
Master Translator Looks at the Trend:
Resistance Levels:
First Resistance: 103,300
Second Resistance: 104,700
Support Levels:
First Support: 101,500
Second Support: 100,000
Recommendation for Today:
After BTC broke through the 100,000 USD resistance, the buying momentum further entered the market. Currently, it is in an upward space and has not yet formed a selling pressure at the top.
The key point to focus on now is whether it will rebound after a slight adjustment, or rebound after further adjustment, grasping this is very important. Since the historical high has been broken, it is not recommended to chase long positions, but to enter after a pullback.
After breaking through the 100,000 resistance, 100,000 USD will become an important support level. In the short term, if the 102,000 to 103,000 area can stabilize, you can consider entering a super short-term long position.
According to the support levels provided by the Master Translator in the chart, you can operate based on the upward line in short-term trading. If you expect a pullback, you can focus on the support lines below for positioning.
The current market has experienced a rapid rebound and entered an overbought area, while forming a downward divergence. At the high point, the Master Translator does not recommend directly shorting, but to be aware that the overbought condition may continue to form. When a divergence appears, please maintain an adjustable outlook for operation.
Master Translator's Wave Preset for 12.5:
Long Entry Zone: 98,888-98,250, Target: 101,500-104,700 (Don't do it if not reached)
Short Entry Zone: Not Considered
The content of this article is exclusively planned and published by Master Translator Chen (public account: Coin God Master Translator Chen), who is the same name across all platforms. If you want to learn more about real-time investment strategies, unwinding, spot, short, medium and long-term contract trading methods, operation skills and K-line knowledge, you can join Master Translator Chen's learning and exchange group. The group has now opened a free experience group for fans, as well as community live broadcasts and other high-quality experience projects!
Warm Reminder: The only public account (the one in the image above) that is written by Master Translator Chen. All other advertisements at the end of the article and in the comments are not related to the author! Please be cautious in identifying the authenticity, and thank you for reading.
