- The 100,000 Bitcoin resistance, active for 18 days, may soon break or hold at the midpoint, highlighting the unpredictability of the market.
- Strategic timing during Bitcoin cycles provides opportunities for investors, as altcoins often peak two weeks after Bitcoin.
In an article on TradingView, renowned crypto analyst Alan Santana notes that the “Bitcoin 100K” resistance was triggered on November 22 and has been running for 18 days now.
Santana points out that this barrier could break now, tomorrow or until the end of February. Highlighting the unpredictable nature of the market, he asserts: “Anything is possible.”
Bitcoin: Stability Paves the Way for Altcoin Growth
According to Santana’s analysis, altcoins were largely influenced by recent market fluctuations, notably the upheavals of December 5 and 9; Bitcoin is rather unscathed.
He tells traders that many chart setups and trades are now back within the entry price range, providing a fantastic chance to re-enter the market at reasonable rates.
“Retracements and corrections are a buying opportunity,” says Santana, noting that this is the first occurrence since Bitcoin’s surge a month ago. He advises a disciplined approach: buy near support when prices are low and sell when resistance levels are reached.
Santana believes this is perfect for the entire crypto market as it approaches the $100,000 threshold. A strong Bitcoin provides a solid foundation for the market, allowing altcoins to grow when Bitcoin drifts sideways.
Although the opposition to the 100,000 will likely stay in the middle, he believes that when Bitcoin fluctuations, the altcoin market will see a notable increase. Thousands of altcoins are trying to catch up, and some are reaching new all-time highs while others remain clearly undervalued. Santana thinks it could be months before the market returns to balance.
Previously, a CNF report highlights the importance of timing during Bitcoin market cycles. Historically, altcoins typically peak two weeks after Bitcoin, while the profit opportunity during its cycle lasts around 26 days. For investors trying to maximize their returns, strategic planning becomes absolutely vital at this stage.
Meanwhile, reflecting a 20.51% increase over the last 30 days, Bitcoin is exchanged hands towards $97,542.85 at the time of writing. This trend matches Santana’s view of market possibilities during retracements, even with recent corrections.
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