Where the Market Stands: BTC, SOL, and More

Welcome to our latest crypto market outlook for January 8th!

The market is trading at a discount, making it the perfect time to shop for 2025. Here's my watchlist: ALICE, EAI, ENA, PHA, and SOL.

‍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 daily chart retesting the upper bound of its falling channel. — *USDT.D Chart - Daily Timeframe*

As anticipated in our last market recap, USDT.D has rejected the 3.75%–4% support zone and is currently retesting the upper boundary of the falling channel, highlighted in red.

If the upper red trendline and the last major high are broken to the upside, a deeper bearish correction in the crypto market can be expected.

USDT.D 1h chart retesting a minor structure at 4.15%. — *USDT.D Chart - 1H Timeframe*

For the bears to take control of USDT.D and trigger a bullish wave in the crypto market, a break below the last minor low at 4.15% is required.

BTC daily chart hovering within a range in the shape of a head and shoulders pattern around the $100,000 mark, — *BTC Chart - Daily Timeframe*

BTC is still in the process of completing the head and shoulders pattern discussed in our previous BTC update.

If the $91,000 support level is broken to the downside, the head and shoulders pattern will be activated, which could have a negative impact on the crypto market.

BTC 4h chart retesting the lower bound of its range at $91,000. — *BTC Chart - 4H Timeframe*

Meanwhile, BTC is expected to range between $91,000 and $100,000.

As BTC nears the lower boundary of the red wedge pattern and the $91,000 support level, we anticipate the bulls will regain short-term control.

5 Altcoins Analysis

‍After rejecting the upper boundary of the flat rising broadening wedge highlighted in orange, ALICE has entered a correction phase.

As it approaches the lower boundary of the wedge and the $1 round number, we will be monitoring lower timeframes for trend-following long opportunities.

ALICE daily chart retesting the lower bound of the rising broadening wedge pattern and $1 round number. — *ALICE Chart - Daily Timeframe*

On the 4H timeframe, from a medium-term perspective, ALICE is retesting the lower boundary of a flat range shaped like a channel.

As long as the lower red trendline remains intact, I anticipate the bulls could take over at any moment.

ALICE 4h chart rejecting the lower bound of a minor rising channel. — *ALICE Chart - 4H Timeframe*

After encountering resistance near the $0.30 round number, EAI has entered a correction phase, forming a falling channel.

As it retests a strong support zone and structure, we anticipate the bulls will take over and initiate the next impulse movement.

For the bulls to confirm control, a breakout above the upper red trendline is required.

EAI 4h chart in a correction phase in the shape of a falling channel. — *EAI Chart - 4H Timeframe*

Next is ENA, which has shown remarkable strength by holding firmly above its structure.

As long as the last major low at $0.088 remains intact, we anticipate the bulls will soon step in, driving another bullish impulse toward the upper boundary of the rising channel around $1.40.

ENA 4h chart retesting a strong support and round number $1. — *ENA Chart - 4H Timeframe*

Analyzing PHA, after surging by over 300% as highlighted in our last PHA update, it encountered resistance near the $0.50 round number and has since entered a correction phase.

Currently, PHA is approaching a strong demand zone, and we anticipate the bulls to step in for another impulsive move.

PHA daily chart in a correction phase and retesting a strong demand zone. — *PHA Chart - Daily Timeframe*

The recent correction phase has been confined within the falling channel highlighted in blue.

For the next impulsive movement to be confirmed, a breakout above the upper blue trendline is required.

PHA 1h chart showing the falling channel that we need a break above for the bulls to take over. — *PHA Chart - 1H Timeframe*

Last but not least, SOL is currently hovering around a key support zone, presenting an opportunity to accumulate more at a discounted price.

As long as the $185 support level holds, we will be anticipating the bulls to step in.

SOL 4h chart retesting the lower bound of its rising channel and $190 support. — *SOL Chart - 4H Timeframe*

For the bulls to fully take control and shift the momentum in their favor, a breakout above the $200 round number is required.

In the meantime, SOL remains bearish in the short term and could still dip further within the $185–$190 support zone.

SOL 1h chart showing the structure at $200 that we need a break above for the bulls to take over. — *SOL Chart - 1H Timeframe*

Quotes / Advices

‍If you personalize losses, you can’t trade.
~ Bruce Kovner

Closing Remarks

‍In summary, USDT.D is at a critical juncture, with potential bearish or bullish outcomes depending on key levels. BTC is ranging between $91,000 and $100,000, with significant implications if the $91,000 support level breaks.

ALICE is in a correction phase, with potential bullish setups forming around the $1 support.

EAI is approaching a demand zone, where a breakout above key resistance could signal a bullish impulse.

ENA is holding strong support at $0.088, with bullish targets near $1.40.

PHA is nearing a demand zone, requiring a breakout above the falling channel for further upside.

SOL is at an attractive accumulation zone around $185, with a bullish confirmation expected above $200.