Bitcoin suffered its worst Q4 performance since 2018, with the market rebound proving weak. Meanwhile, gold, silver, and stocks continued to rise.
1011 was a fatal blow to the entire crypto market. The Christmas rally did not bring a sustained upward trend, and there are still many uncertainties causing market concern in January. For example, January data may affect expectations of interest rate cuts, and whether MSCI will remove MSTR, etc.
The 4-hour chart is currently showing weak fluctuations, lacking the momentum for a sharp drop or a sharp rise. Entering January has added further uncertainty, so patience is advised.
BTC
From a daily chart perspective, the price of BTC is still within a "potential downtrend continuation" range. In detail, it is currently experiencing a pullback after encountering resistance at the MA30. If we apply this context to the 4-hour and lower timeframes, the densely packed bearish pattern above indicates that the initial rebound in price will be limited in height or duration. Chasing the price upwards is not advisable. The main trading strategy is to place sell orders at various timeframes. Upward price movements have prerequisites and require close monitoring of the market.
Short-term support is at 85860~84990 (monitor closely and trade quickly); the second support is at 83540~82110 (look at the long term and trade short-term).
The current position is a resistance zone. The upward resistance levels are 93280~95030 (after reaching this level, a pullback to 90750~89950 is a good opportunity to buy). The second resistance level is 100661~103700 (after reaching this level, a pullback to this short-term resistance level is a good opportunity to buy).
ETH
Ethereum is experiencing weak fluctuations. After dipping below the 2900 level in the early morning, it rebounded but then faced resistance at the 3000 level and fell back, currently consolidating around 2930. ETH is currently moving in the expected downward direction, having broken below the 2950 area on the 4-hour chart and showing signs of resistance during any rebound.
The next move might extend to the daily candlestick chart, retesting support around the 2750 area. Then, we'll wait and see if it rebounds and enters a period of consolidation (2750-3400), or if it breaks down to find the next support level.
$LIT
Last year, $LIT was known for its wild price swings, designed to profit from market fluctuations. It relisted yesterday, and it's expected to drop to around 2 after the airdrop. Buy in batches around 2 to profit from the rebound! Potential targets are 2.35, 2.05, and 1.85. However, the exact price will depend on the price drop after the airdrop.
TST
TST's manipulators have started causing trouble. The price has been rebounding on smaller timeframes and is currently near the resistance line. Once it breaks through, there will be at least one wave of accelerated upward movement. It is estimated that the manipulators have collected most of their holdings. Many coins are starting to cause trouble, especially those with contracts or those about to be listed. Entering at low prices can yield a large profit, as selling pressure is low and it is easy to pump the price.
Binance Life
The IP itself carries a huge following, and on the 17th, the official app even pushed out a push notification saying "New spot listing, this is a test coin," which is highly likely to pave the way for the future listing of Binance Life spot tokens.
Binance's price action has seen a deep pullback and a prolonged period of consolidation, falling from a high of 0.517 to the current 0.12. Early profit-takers and those with weak conviction have been largely shaken out. The current bottom is very solid, and the price structure is extremely clean.
It is expected that before New Year's Day, Binance will activate the popularity and market enthusiasm for BSC through Binance Life, and we will usher in another golden season for BSC!
PIPPIN
PIPPIN is one of the strongest single-player cryptocurrencies this season! It has already risen more than 20 times from the bottom, specifically targeting short sellers! This monstrous coin doesn't seem to be reaching its peak yet. It looks like it could trigger a sudden surge in short sellers at any time. Aren't the short sellers going to be in trouble?
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