590,000 people liquidated! Be cautious about shorting? Night strategy for Bitcoin on December 10
Morning data shows that within 24 hours, over 590,000 people were liquidated, with this round of decline resulting in $1.775 billion liquidated, and over $1.6 billion in long positions being liquidated.
On-chain liquidation heatmaps indicate that if the price drops below $9,300, $72.95 million will be liquidated, and if the price rises to $100,500, $77.13 million will be liquidated. Currently, the price is around $97,500, and relatively speaking, the liquidation pressure on both sides is comparable.
On-chain data shows that in the spot ETF market, yesterday Bitcoin ETF saw a net inflow of $483.22 million, while Ethereum ETF had a net inflow of $149.7 million. The spot ETF market remains in a net inflow state, which is undoubtedly bullish!
Looking at the charts, the daily line closed bearish in the morning but with a long lower shadow, indicating a bullish outlook! However, the auxiliary indicators KDJ and MACD are both showing death crosses pointing down, which looks bearish! This could also be the impetus for another downward spike today!
On the four-hour chart, the price broke below the lower Bollinger band in the early morning and has now corrected to above the lower band, with all three bands pointing down. The three pillars within the day all have long lower shadows, and KDJ's three lines are crossing upwards. The MACD double lines are turning upwards from a low position, with volume decreasing! The four-hour chart shows bulls in control. Therefore, for tonight's operations, Conan suggests primarily looking for long positions on pullbacks! Key resistance levels to watch are 98,500, 99,000, 100,500, and 101,500, while support levels to watch are 97,000, 96,500, 96,000, and 95,000.
Evening strategy for Bitcoin on December 10: Aggressive traders can enter long on pullbacks at 96,500-97,000, while conservative traders can enter at 95,500-96,000, with a stop loss below 95,000. The target is to look for 97,500-98,000-98,500, and if broken, look for 99,000-100,000-105,000.
For short positions, enter short if 98,500 does not break, but if it strongly breaks, enter short in the 100,000-100,500 range with a stop near 101,000, targeting 99,500-99,000-98,000, and if broken, look for 97,500-97,000.
Evening strategy for Ethereum on December 10: Aggressive traders can enter long on pullbacks at 3,650-3,700, while conservative traders can enter at 3,550-3,600, with a stop loss below 3,500. The target is to look for 3,750-3,800, and if broken, look for 3,850-3,900.
For short positions: If 3,800 does not break, try to enter short; if it strongly breaks, consider entering near 3,900, with a stop near 3,950, targeting 3,750-3,700.
Large holders and institutions continue to increase their holdings. Currently, the market shows signs of bottoming out, and this round of decline has liquidated a large amount of positions. Everyone must keep their positions well to prepare for the policy stimulus after Trump's return to power! $BTC