Bitcoin has rebounded from the bottom and is currently consolidating around the first resistance level of $98,000. It has not yet broken out of the large consolidation range. It is expected to consolidate around here for about a week before an effective breakthrough. Don't rush; be a little more patient!
Tomorrow, January 6, the U.S. Congress will certify Trump's official election. January 20 is the official inauguration day. Caution is advised for shorting in the next two weeks. Today's pullback should be a buying opportunity and to add positions. Just set a defense near 97200. Currently, shorts have little potential, and trial and error is not very meaningful. Many people are stuck below, hoping for a drop to 80k or 70k.
I suggest that before mid-March, it's better to buy on dips and avoid shorting. To make big money in a bull market, one still needs to buy on dips. As long as you don't chase the top, you won't get hurt.
Many altcoins began to rise again this weekend; some altcoins started to rally early. Currently, the overall trend of altcoins is not yet unified, but they are gradually completing bottom repairs. It is currently early January. I personally believe that there will be another shakeout to kill the longs, and then around mid to late January, the second wave of the main upward trend will begin, with some later altcoins possibly reaching early February.
As for the amplitude of the shakeout before the main upward trend restarts, it depends on the strength of each altcoin and the extent of BTC's consolidation and pullback. Weaker altcoins may drop back to previous lows, while stronger altcoins might only experience a deeper correction.
Currently, many altcoins are still in the bottom range. For spot trading, from December 20 until today, there has been a two-week sufficient time for everyone to dollar-cost average at the bottom. Therefore, if there is another pullback recently, it might be the last good entry opportunity.
doge
It seems that it has almost stabilized within the dense area now. This price is expected to rise to 0.46 at any time. At that time, the whole zoo will be filled with barking, and the entire market will welcome a new wave of animal frenzy.
goat
From the overall pattern, the wave has not yet completed. Future prices below 0.3 for a correction will likely end the short-term downtrend, and at that time, the overall price will welcome a moderate rebound!
cow
After the previous large bullish candle, it fell to a strong support point and then rebounded. This basic trend has not been broken, and since it's related to Trump, there will be a different landscape in two weeks!
pengu
From last night's performance, I knew it was going to rise. There isn't much selling pressure, and with that kind of wash and trend, there is likely to be a larger move in the future. Please remember it is very likely, not certain!
This round of sharp decline has passed, and the next will only gradually break through in the process of consolidation and adjustment. If you still don't believe enough, please silently recite: the bull market is on its way, and this round I will definitely become rich! Hahahahaha.
