12.19:BTC has undergone a full retracement, and the price has shown a bottoming out pattern

BTC was once again splashed with cold water amidst the noise of the market. The price dropped from a historical high of $108,353 at 10 PM on the 17th to a low of $98,802 at 10 AM today, with a decrease of $9,551, experiencing a significant decline. In fact, due to the high market sentiment, a frenzy of buying led to a large number of long positions, making it inevitable for a washout. The medal reminded everyone in the analysis article the day before yesterday that when the bullish pattern of the market was obvious, they should avoid chasing after buying on the rise, and instead buy in batches after a sufficient pullback. The price deliberately dropped below $100,000 at the moment, and the medal believes that the pullback is nearing its end, and the price will enter a mode of oscillating upward.
Due to the Fed's interest rate cut landing last night and the increase in next year's inflation expectations, the US stock market experienced a panic selling. As an asset, BTC was also affected by the selling behavior. The main concern in the market is that the interest rate cut process will slow down, resulting in a decrease in liquidity and an early sell-off due to the impact on the rise in asset prices. The above factors combined have triggered a downward trend. Xunzhang believes that BTC has been consolidating around 97,000 for a long time, reaching 20 days. The chips in this area are relatively solid, and the expected price will be supported above 94,000. After experiencing a period of consolidation, it will still enter a mode of upward movement.
In the mainstream altcoin field, the medal has already given everyone an outlook on the trend in the first two articles. Including a big cleanup in the market after the extreme decline on the 10th, the medal immediately made an analysis, stating that the price would oscillate at the bottom and then show a clear upward rebound, followed by a significant drop when the market believed it was bullish, testing the support near the bottom shadow, resulting in a clear pullback. The medal has seen this pattern many times, reminding everyone to grasp this rhythm, buy low and sell high, and continue to accumulate chips near the bottom shadow. Currently, the trend and expected trend remain consistent, with most coins rebounding and then falling back to the support area near the shadow after the big drop on the 10th.
At present, the medal believes that it is already possible to increase the position of high-quality currencies. At the same time, due to a relatively sufficient decline, the spot position can reach a relatively high position, and then quietly wait for the market to warm up. The market sentiment is still there, the bull market foundation is healthy, and some high-quality currencies are still on the rise, and will not be terminated by the short-term plunge. At present, there is still more than a month before the old special comes to power, and there is still time for speculation to heat up.
For the future trend of BTC, due to the obvious buying interest after the price fell below 100,000, there was a long lower shadow candle on the hourly chart. The medal believes that the market adjustment has been completed and the price will start a oscillating upward movement. Even if there is further suppression in the short term, it will be difficult for the price to fall below the strong support level of 94,000. This area is also the support and rebound level at 4 am on the 12th and 1 am on the 11th, and the bullish defense is relatively strong.
On the spot participation, from the recent trend observation, it is recommended to choose high-quality currencies such as PENDLE, ETHFI, Link, FTM, ENA, etc. At the same time, it is not recommended to liquidate in a panic, after all, the price is a value lowland after a significant pullback, it is not very cost-effective to cut meat at this time.
​Based on the above analysis, Medal believes that the mainstream altcoins have completed the expected retracement near the shadow support, and the price will continue to show a clear rebound trend after oscillating at the bottom, continuing the bullish path.
Risk Warning: Due to significant market fluctuations, it is not recommended to participate in contract trading with a large position. It is advisable to focus on spot trading for stability.
Currency friends must see: the main players have various operating methods, and ordinary participants are easily confused and cause losses.