- Bitcoin’s 100K resistance, active for 18 days, may break soon or hold midterm, highlighting market unpredictability.
- Strategic timing during Bitcoin cycles offers opportunities for investors, as altcoins often peak two weeks after Bitcoin.
In a post on TradingView, renowned crypto analyst Alan Santana notes that the “Bitcoin 100K” resistance was triggered on November 22 and has been operating for 18 days now.
Santana points out that this barrier might break right now, tomorrow, or as late as late February. Highlighting the unpredictable nature of the market, he asserts, “Anything is possible.”
Bitcoin: Stability Sets the Stage for Altcoin Growth
According to Santana’s analysis, altcoins have been largely influenced by recent market swings, including shakeouts on December 5 and 9; Bitcoin has been rather unharmed.
He tells traders that numerous chart setups and trades are now back within the entrance price range, thereby offering a fantastic chance to re-enter the market at reasonable rates.
“Retraces and corrections are an opportunity to buy,” Santana says, stressing this as the first occurrence since Bitcoin’s major increase a month ago. He counsels a disciplined approach: buy near support when prices are low and sell when resistance levels are reached.
Santana believes that this is perfect for the whole crypto market as it gathers around the $100,000 threshold. Strong Bitcoin lays a solid basis for the market, which lets altcoins grow when Bitcoin drifts sideways.
Although the 100K opposition is probably going to remain in the middle, he believes that when Bitcoin swings, the altcoin market will experience a notable increase. Thousands of altcoins are trying to catch up, and some are reaching new all-time highs while others remain undervalued clearly. Santana thinks it might take months before the market finds balance.
Previously, a CNF report highlights the significance of timing during the market cycles of Bitcoin. Historically, altcoins usually peak two weeks after Bitcoin, while the profit opportunity during its cycle lasts about 26 days. For investors trying to maximize their returns, strategic planning becomes absolutely vital at this juncture.
Meanwhile, reflecting a 20.51% increase over the last 30 days, Bitcoin is swapped hands at about $97,542.85 at the time of writing. This tendency fits Santana’s view of market possibilities during retraces even with recent corrections.
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