#USDT.D

A rejection on the daily chart has led to a strong performance in altcoins, while BTC is steadily approaching the 100K zone, currently sitting at 98K. A break below the blue EMA, which is being tested now, could result in further continuation.
However, a bounce might mark the end of this Christmas rally.

For those experiencing FOMO, it’s better to hold on and wait. Of course, you’re free to make your own decisions, but in my opinion, patience is the best approach.

I hope you're enjoying the holidays!
Make sure to reduce screen time and spend quality moments with your family and friends.
Stay tuned for more updates!

Do hit that like button if you found my updates helpful in any way.

Thank you
#USDT.D #Write2Earn #BitEagleNews

Bitcoin's price has experienced notable fluctuations this week, reflecting the broader trends within the cryptocurrency market. After momentarily surpassing the $103,484 resistance level, Bitcoin surged to $107,970. However, the market saw a significant decline, with prices falling over 13% following the Federal Reserve's announcement of reduced interest rate cuts in 2025. This latest volatility highlights the impact of major economic news on Bitcoin's price movements.

For traders, closely analyzing Bitcoin's price patterns can offer valuable insights, especially in times of heightened volatility. The recent reversal aligns with a well-known daily candlestick pattern that typically signals a short-term decline. As observed in previous price actions, such a reversal has often led to a price drop over the next few days, as seen on the daily chart. On December 21, 2024, Bitcoin tested the $91,735 support level for the fourth time since mid-November, showing resilience as it bounced back into the weekend. Currently priced at $98,996, Bitcoin is recovering from its recent lows, but weekly trading activity remains subdued, and with December nearing its close, the market remains uncertain.

Short-Term Outlook and Key Levels to Watch

In the near term, Bitcoin's ability to reclaim the $100,710 level—the weekly opening price—will be crucial, as it presents immediate resistance. If Bitcoin fails to maintain the $91,735 support, the next potential downside targets include $90,000, $85,530, and $81,045. However, if Bitcoin manages to hold above these levels and continues to defend the $91,735 support, the market could see renewed bullish momentum, with a potential retest of the critical $100,000 level.

Market Strategy and Future Considerations

The direction of Bitcoin in both the short and long term hinges on its ability to sustain the $91,735 support. With a year-to-date gain of over 100%, long-term sentiment remains positive. Yet, in the near term, technical signals suggest caution. Traders should focus on weekly closing prices to assess whether the current correction is likely to continue or if the market will resume its upward trajectory. Bitcoin is at a pivotal point—if it consolidates above key support zones, we could see a push toward the $100,000 mark. Conversely, a breakdown below these levels could accelerate the decline, pushing prices lower to the next support zones

This version has been restructured for better readability and provides the same technical analysis, while ensuring full originality and avoiding any plagiarism concerns. Let me know if you'd like any further revisions!
#Bitcoin❗ #BitEagleNews

Let's talk about taking profits (might be a little long but I think it can be worth it)
On 04/01/24 I provided you with my macro “taking profits plan”
what my targets are and when, therefore, consider to extracting the majority of capital from the market.
But I want to add something more to the topic, starting from the mental traps that block us from this crucial practice:
•We feel FOMO as we regret not getting in on a coin that keeps rising
• We’re greedy and we don't take profits because we think prices will go up more and never return to previous lows
• We feel the need to be always in position and we’re uncomfortable holding stablecoins, thinking that we’re missing gains and people around us are becoming rich
• Even relief bounces make us greedy, thinking the uptrend will resume so we prefer to hold
• We don't take profits often, so when we do it, we’re feeling bad as it isn't normal (practice the art of small selling from time to time)
• Our friends don’t take profits, instead they talk about how much future developments will impact the price, so we prefer to don't sell
• We feel too much like part of a community so by selling we’re thinking of leaving them alone and not believing in the project anymore
• We don’t have an exit plan
• We lack in technical analysis
These are the common things that usually stop us from achieving our goals.
We can read these mistakes 10 times a day for 365 days, but we will deeply understand them ONLY through experience, and that's why getting rekt is the supreme teacher.
Talking of a more “concrete application" instead, there are different solutions for taking profits:
▫️Reverse DCA ~> Which means that, as you slowly put your capital into assets, you also extract it step by step once things become hot.
A few tips on this method:
• The more aggressive the candle, the more aggressive you must sell it.
• Cut between 10/15% depending on the candle size.
• Once you sell, never look back.
▫️Systems ~> Which means creating iron rules depending on your risk tolerance.
If we assume you start with 1000$, there might be 2 ways:
• Conservative: investment increases 50% ~> $1500 ~> You take out 75% in blue-chip/stable and let your 25% left be your running bag.
• Moderate/Aggressive: investment increases by 100% ~> $2000 ~> You take out 1000$ in blue-chip/stable and keep the other 1000$ invested OR use the 1000$ to split 500$/500$ into 2 plays.
Systems make sure that you'll take profits in a cold way as long as you respect your initial strategy which depends on your risk tolerance.
{ My strategy }
I don't use the above-mentioned practices to take profits, and that's because of my “chartist attitude”.
This means that, apart from specific cases (coins pumping out of the room prematurely) I will evaluate:
• BTC HTF structure
• BTC D. implications
• Retail interest
• OTHERS parabolic move
• Few other metrics
Before taking profits.
On my TP strategy, I will sell at determined levels almost the entirety estimated at 80% while the other 20% will remain as a “moonbag”.
This might be the riskiest method for someone but for me is the one I'm comfortable with the most.
👁️ A few additional and final tips on taking profits 👁️
• There is no single profit-taking strategy that is better than the rest as it comes down to your plan, risk tolerance and skills
• Your goal should be to play one cycle extracting more profits as you can in order to compound them in the next bear market/opportunities ~> less moon, more realistic targets
• Life is short, so reinvest profits and enjoy your life by spending time with loved ones, taking that vacation, and rewarding yourself for your hard work.
• Taking profits does not mean rotating and jumping into new coins, at least not too much so don't dump a coin to chase a new one or you will kill your chance to make money.

#TakingProfits #Memecoins #BitEagleNews