As the year draws to a close, the leading cryptocurrency, Bitcoin, struggles to maintain a closing price above $42,500. Despite a slight relaxation in altcoins, the excitement could surge again with the possibility of an early ETF approval next week. However, trading volumes have weakened due to the holiday season. A renowned crypto commentator has shared his final analysis of the year for Bitcoin and API3 Coin.
Known for his accurate predictions on critical price zones, the analyst, who goes by the pseudonym Efloud, has sold 90% of his Bitcoin holdings at $44,600, which he had been accumulating since the price was at $28,000. He continues to apply a strategy of selling at resistance and buying at support levels, a tactic that has allowed him and his followers to benefit from nearly the entire rally.
Efloud still considers the $39,800 level significant for long-term analysis and suggests that a pullback to this price could provide an opportunity to establish a new long position with the help of micro-LTF confirmations or a later breakout of the green box. He advises against taking significant action in the zone between the red lines and the green box, recommending to use this range as an interval and to trade after deviations for a higher probability of success.
Turning to API3 Coin, which remains popular on social media, Efloud has released a new chart in response to numerous inquiries. The marked levels on the chart could offer profit opportunities as increased volatility is expected in the coming days.
Efloud notes that a 15% profit has been realized following a pullback after a channel breakout, with the coin having previously seen 30% gains. However, he warns of significant corrections with any small sale in a low volume environment. He advises those holding the coin to periodically take profits and/or move their stop-loss to the entry point, emphasizing that he has provided the best analysis possible and the rest is up to the investors. He promises to update his analysis when he deems it significant.
The analysis reflects a cautious optimism for both Bitcoin and API3 Coin as the market navigates through the final days of the year, with strategic trading and vigilance being key to capitalizing on potential gains.