The leading cryptocurrency is fighting to close the final hours of the year above $42,500. Although altcoins have loosened a bit, the possibility of an early ETF approval next week could reignite excitement. On the other hand, volumes have weakened somewhat due to the holiday. So, what did the famous crypto commentator say about BTC and API3 Coin in the last analysis of the year?
Bitcoin (BTC) Chart Analysis
The popular crypto commentator known by the pseudonym Efloud shared his current perspective on Bitcoin in great detail on the last day of the year. The analyst, known for his success in critical price regions, shared the following chart and wrote;
“As you all know, I have been opening long positions on every pullback since $28,000 and sold 90% of my BTC at $44,600, which I couldn’t short sell.
Just like with altcoins, I continue the tactic of selling at resistance and buying at support in my spots. We have almost benefited from the entire rally, and I am sure it has positively affected you both mentally and financially.
I still care about the $39,800 levels that I mentioned in my long-term analysis. If the price pulls back to these levels, I may form a new long position with the help of micro-LTF confirmations in these areas or after the green box breaks later.
The gain of the WO region will provide short-term relief. However, I do not recommend taking big actions in a region where BTC is moving horizontally between the red lines and the green box. Using this area as a range and trading after deviations will be beneficial for the success probability of your positions.”
API3 Coin Commentary
API3 Coin, still quite popular on social media, has prompted Efloud to release a new chart due to the many questions he received. The levels marked on the chart by the expert may offer profit opportunities as volatility is expected to increase in the coming days.
Efloud wrote;
“Normally I don’t update unless there’s a reason, but I’m leaving this here as the last analysis of the year since many people have asked recently.
Currently, there’s a 15% profit following the pullback after the channel break.
We had seen 30% profits not long ago. However, it experiences a serious correction with the slightest sale in a low-volume environment.
I carry it as a spot. If you have bought it, don’t forget to take profits from time to time and/or move the stop-loss to the entry point. I have done the best analysis I can for you. You are in profit. The rest is up to you.
I will update again when I think it’s important.”
