Recently, Bitcoin's price has continued to rise, once standing at $99,000 per coin, setting a new historical record. In the short term, Bitcoin may seek new support or resistance levels amidst fluctuations, while in the medium to long term, its price direction will depend on multiple factors such as global liquidity, economic prospects, and regulatory attitudes.
Data shows that Bitcoin significantly increased in December after halvings in 2012, 2016, and 2020. In December 2012, it rose from $12.57 to $13.45, with a return rate of 7%. In December 2016, the return rate was 30.8%, and in December 2020, it was 46.92%. The return this month is still worth looking forward to. It is noteworthy that Bitcoin recorded a 7.35% increase in September this year, achieving the best performance in history. Historically, whenever Bitcoin has a positive September, it tends to rise until the end of the year.
Chu Yuechen: December 2 Bitcoin ETH market analysis and trading reference
Bitcoin has basically been fluctuating around the range of 95000-98000 from last week until today. This morning, Bitcoin encountered pressure around 98200 and has pulled back, currently fluctuating around 96500. Overall, Bitcoin has not chosen a direction to break through. In our previous articles, we have detailed various factors that make us bullish on Bitcoin. We have also entered long positions multiple times at 92000 and 95000, both yielding considerable returns.
From the 4-hour chart, Bitcoin's short-term support remains in the range of 94500-95000, which has been verified multiple times last week. Therefore, if there is an opportunity in this range during the day, we still need to lay out long positions. Since it's a volatile market, we don't need to set the target too far; a profit target of 2000 is sufficient, with a stop-loss of 1000 points.
Additionally, looking at ETH from the daily chart, last week Bitcoin stabilized at a high level, and ETH had some catch-up growth, even leading relative to some altcoins. This is a good phenomenon for the entire cryptocurrency sector. After Bitcoin rises, stabilizes at a high level, and other varieties rotate in and out for catch-up growth, the overall market capitalization of the crypto field is also growing.
ETH intraday focus on the 3600 integer level and the support level of 3530. In contract trading, you can use 3530 as the stop-loss level to enter long positions. How you do it depends on how much you can bear, so I won't say much more here.
As we mentioned above, based on historical experience, Bitcoin has seen price increases in September and December after each halving. As for whether this month can validate this experience, we shall wait and see.
Market conditions change in real time, and there may be a delay in article publication. The strategy points are for reference only and should not be used as the basis for entry. Investment involves risks, and profits and losses are self-responsible. Daily real-time market analysis, along with experience exchange groups and practical discussion groups, are welcome for real-time guidance. There will be irregular live broadcasts in the evening to explain real-time market conditions.
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