Welcome to our latest crypto market outlook for December 18th!
While everyone is busy with Christmas shopping, we traders prefer altcoin shopping. Here's my wish list: AEVO, ZRO, KSM, PHA, and TURBO.
Today, we will cover the following topics:
- USDT.D and BTC Analysis
- 5 Altcoins Analysis
- Quotes / Advices
- Closing Remarks
USDT.D and BTC analysis
USDT.D has been in an accumulation phase throughout this month. Is this accumulation a precursor to a bullish reversal, or is it a build-up leading to a break below 3.75%?
If the 4% level is broken to the upside, expect a significant bearish correction in the crypto market as mentioned in our last market outlook.
Conversely, if the 3.75% level is broken to the downside, further upside in the crypto market is anticipated.
USDT.D will remain bearish in the medium term unless the 4.12% high is broken to the upside.
BTC is now in price discovery mode, making it impractical to aim for arbitrary price targets—the sky is the limit.
Currently, BTC is retesting a strong structure at $103,000. If this level is broken to the downside, a deeper correction toward the $100,000 round number is likely.
As mentioned in the last roundup article, every correction should be viewed as a dip for BTC and a good opportunity to consider trend-following long positions.
For the bulls to regain short-term control, a break above the orange channel is required.
5 Altcoins Analysis
AEVO is retesting a strong structure marked in green, which intersects with the blue trendline, serving as a non-horizontal support.
As long as this support holds, the bulls will remain in control, making it an opportunity to look for trend-following long positions.
In the medium term, as observed on the 4-hour chart, AEVO is in a correction phase, trading within the flat channel marked in red.
For the bulls to regain control and initiate the next bullish impulse, a break above the $0.505 structure is necessary.
ZRO has been one of the top performers this month, breaking above its recent all-time high at $5.
Currently, ZRO is retesting the $5–$5.35 support zone, presenting an opportunity to look for long positions.
Conversely, if the $7.274 major high is broken to the upside, a continuation toward the $10 round number is anticipated.
Next is KSM, which previously rejected the $33–$35 support zone, as highlighted in our last altcoins article.
Currently, KSM is retesting this support zone. We will consider new long positions as long as the support and the lower red trendline hold firm.
Analyzing PHA, as it retests the $0.15 round number and a strong structure, we will be looking for trend-following long positions.
In the short term, PHA has been in a correction phase, forming a falling channel marked in orange.
For the next bullish impulse to begin, a break above the recent high at $0.165 is required.
Last but not least, TURBO has been one of the top-performing memecoins.
After surging over 100%, it is currently in a correction phase, retesting the lower bound of its rising channel, which intersects with a demand zone marked in blue.
As always, avoid catching a falling knife and wait for the bulls to take control before making a purchase.
In TURBO’s case, waiting for a break above $0.0106 will serve as confirmation of bullish momentum.
Quotes / Advices
Novice Traders trade 5 to 10 times too big…
~ Bruce Kovner
Closing Remarks
In summary, USDT.D is in an accumulation phase, awaiting a decisive breakout while Bitcoin is in price discovery mode with no clear resistance levels.
AEVO: Retesting a strong structure with bullish prospects above $0.505.
ZRO: Testing the $5–$5.35 support, with potential for further upside if $7.274 is broken.
KSM: Retesting the $33–$35 support zone with opportunities for longs.
PHA: Aiming for bullish momentum above $0.165 after retesting $0.15.
TURBO: A top-performing memecoin correcting within a rising channel, awaiting bullish confirmation above $0.0106.
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