Cryptocurrency Market Analysis: 12.4 Bitcoin Volume Returns! Short-term Fluctuations and Long-term Trend Dynamics! Latest Market Analysis

Article Published on 2024.12.4—02:05

Current Bitcoin Price: 95700. Let’s recap the strategy from yesterday. The primary strategy was to buy on dips, as I have consistently emphasized. In the context of a strong bullish trend, the main approach is to buy on pullbacks. Therefore, when Bitcoin hit a low of 94000, our task was to execute this strategy, ultimately achieving a profit of 2000 points at 96000, further validating my earlier analysis.

Now let’s look at the upcoming analysis. First, from the price trend analysis, the current candlestick pattern is fluctuating around 96000, showing strong upper and lower shadows, indicating a fierce battle between bulls and bears. The daily chart shows consecutive bearish candles, reflecting significant selling pressure in the short term, but there is clear support below. The technical indicator MACD on the 4-hour chart is below the zero line, with DIF and DEA close to convergence, and the momentum bars are shortening, suggesting a weakening of downward momentum, with the potential for a golden cross and continuation of the bullish trend.

The Relative Strength Index (RSI) is around 47, not entering the overbought or oversold zone, indicating a relatively neutral market without extreme emotions. The EMA trend indicator price is currently below EMA7 but close to it, while EMA30 and EMA120 are above. The short-term trend is relatively weak, but there is still some support in the medium to long term, indicating that the bullish trend persists without breaking down. Additionally, the increased trading volume indicates heightened market activity, suggesting that major players are in the accumulation phase and may stretch to hit new highs at any time. Therefore, the strategy remains focused on buying on dips, with short positions as a secondary consideration.

Today's Key Predictions

Buy Point: 94000, Add Long at 93000, Stop Loss at 92500, Target at 97000

Sell Point: 97000, Add Short at 98500, Stop Loss at 99000, Target at 95000

The above is a brief analysis of the current market for investors' reference.